Downtown Memphis is undergoing a remarkable renaissance. Over $2 billion in development projects are underway , prompting Southern Business & Development to name Memphis “major market of the year” based on capital investment and newly created jobs.
Thanks to a strong public and private sector effort led by the Memphis Center City Commission, the block on Main Street between Union and Gayoso Avenues is now a part of this urban renewal. New residential and retail spaces are replacing blighted, neglected properties on this block located in the heart of Downtown Memphis.
Renamed New Main, the historic block is transforming into an urban-chic neighborhood that soon will be home to more than 500 people. Over $57 million in investments in this one-block area are bringing more than 70,000-square feet of retail and restaurant space and new convenient parking in a 440-space public parking garage. Exciting projects will bring life back to historic buildings and thoughtful new construction is replacing property beyond repair.
New Main boasts a prestigious address amid the most vibrant entertainment district in the region. Near New Main is Peabody Place Entertainment & Retail Center, AutoZone Park, the Orpheum Theatre, and the new $250 million FedEx Forum. Beale Street, Tennessee’s top tourist attraction, and the mighty Mississippi River are just two blocks away. Attractions and events around New Main draw over 7 million visitors each year.
New Main is also centrally located in the highest concentration of employees within a 250-mile radius. Surrounding the block are major office buildings and employment centers where 80,000 employees work. The Main Street and Riverfront Loop trolley lines, which transport over 1 million riders annually, pick up and drop off passengers directly on the block for easy access to all of Downtown Memphis.
about the block
New Main is located between Union and Gayoso Avenues in the core of Downtown Memphis. Within a half mile of New Main, you'll find:
A Vibrant Entertainment District: Beale Street, Tennessee’s top tourist attraction by revenue that welcomes more than 5 million guests each year
AutoZone Park, award-winning minor league baseball stadium that breaks national attendance records April through September
FedEx Forum, a new $250 million NBA arena that serves as home to the Memphis Grizzlies and hosts more than 100 annual events
Tom Lee Park, home to Memphis in May, which draws over 250,000 people annually, and other events throughout the year
Orpheum Theatre, the region’s grand theatre with more than 500,000 guests each year
Trolley Line, a six mile loop around Downtown and two miles east to the Medical District that transports over 1 million riders
each year
Office Centers:
Surrounding New Main are office centers and complexes that employ over 80,000 workers, including Peabody Place Office Tower, AutoZone Corporate Headquarters, Pembroke Square, Morgan Keegan Tower, Commerce Square, First Tennessee Building and Civic Center Complex
A Variety of Hotels:
More than 2,200 guest rooms are offered in hotels like the historic Peabody Hotel, the boutique-style Madison Hotel, the nation’s top ranked Hampton Inn, a new Marriott Residence Inn, the Memphis Cook Convention Center’s expanded Downtown Marriott, and The Marriott Springhill Suites. More hotels are coming soon, like a new $30 million Westin Hotel near the FedEx Forum and a renovated Chisca Hotel.
Convenient Parking:
Parking is easily accessible to New Main with more than 16,000 parking spaces located within a half mile in nearby garages and lots
about the projects
Historic renovations and new construction are underway in six projects on the block. Renovations are being made where possible but due to years of neglect demolition was required on some buildings. Projects include:
Main Street Flats
Main Street Flats is a project consisting of five buildings on the southwest side of the block. New Main's first completed residential development is within Main Street Flats, the Cornerstone Apartments, bringing 15-loft apartments above 5,000 sf of retail space and ten underground parking spaces.
Residential developments are planned for Main Street Flats' four attached buildings and will offer 14,000 sf of first floor commercial space.
Available commercial space: The Cornerstone Apartments, 6,000 sf; Other Main Street Flat buildings: 14,000 sf combined Commercial leasing information: Adam Slovis, 901.260.7221
100 South Main
Across from Main Street Flats is 100 South Main, the largest project on the New Main and one of the most ambitious development projects in all of Downtown. Construction begins this fall on a new $42 million, 20-story residential tower above a new five-story 441-space public parking garage. The residential tower will offer 286-apartments with views of the River. The first floor of the project will have 7,000 sf of retail or restaurant space on Main Street.
Available commercial space: 7,000 sf Commercial leasing information: Nashoba Group, 901.507.0334
This residential project includes an historic renovation of the Omni Building that will attach to new construction. The $3.5 million residential development will bring a total of 17 new apartments and condominiums to the block and over 7,000 sf of first floor commercial space.
Available commercial space: 7,000 sf Commercial leasing information: Henry Turley Company, 901.526.0621
This property's prominent location is on the corner of Union Avenue and Main Street is highly visible. This project is along the pedestrian path to nearby restaurants, AutoZone Park and hotels along Union Avenue, and is located on a Main Street and Riverfront Trolley stop. Plans call for a $4 million renovation to convert two buildings into 30 apartments on upper floors with 18,000 sf first floor commercial space.
Available commercial space: 18,000 sf Commercial leasing information: R&M Enterprises, 901.681.9670
This 26,000-square foot building is for sale by the Center City Development Corporation (CCDC). CCDC is seeking development proposals for this three-story, historic property located on the northeast corner of Main Street and Barboro Alley. Building specs and information is available on this website. Click here for more information.
Available commercial space: 25,875 sf total; 8,625 sf first floor Commercial leasing information: Center City Commission, 901.575.0540
Downtown Memphis is undergoing a remarkable renaissance. Over $2 billion in development projects are underway , prompting Southern Business & Development to name Memphis “major market of the year” based on capital investment and newly created jobs.
about the block
Main Street Flats is a project consisting of five buildings on the southwest side of the block. New Main's first completed residential development is within Main Street Flats, the Cornerstone Apartments, bringing 15-loft apartments above 5,000 sf of retail space and ten underground parking spaces.
