in this issue:
Beale
StreetBooms
SoFo
Update New
Retail
and Residential in
South Main
Sears
CrosstownBuilding
Harbor
ofHealth Opens
Development
Briefs New
DowntownBusinesses
Upcoming
MeetingSchedule
CCC
ContactInformation
The Downtown Developer
is a bi-monthly publication
produced by the
Memphis Center
City Commission
114 North Main Street
Memphis, TN 38103
phone 901.575.0540
toll free 888.303.0002
fax 901.575-0541
downtownmemphis.com
All rights reserved.
Beale Street Booms
History is taking place on historic Beale Street with three new projects in the works that are poised to change the look of Downtown.
One Beale
A new project in progress at Beale Street and Riverside will change the Memphis
skyline and enhance the gateway into Downtown. This grand $150 million,
27-story mixed-use development, called One Beale, will include 75,000
square feet of Class A office space, 168 upscale hotel rooms and 159 luxury
condos ranging from $350,000 to $2 million.
The project developer, Gene Carlisle, is the owner of 90-plus Wendy's restaurants throughout the region. Mr. Carlisle plans to seek a PILOT from the Center City Revenue Finance Corporation.
Demolition is underway and the project is expected to be complete in 2007.
Westin Hotel / Lee's Landing
Financing is secured for a $40 million Westin Hotel to be constructed
just south of Beale on George W. Lee between Second and Third near FedExForum.
This 9-story, 203-room upscale hotel is a project of Senate Hospitality Group
out of Nashville. Local architects Hnedak Bobo Group have been selected to
design the facility. A Starbucks and a restaurant similar to Houston's will be
included in the hotel, which is expected to be complete in 2007.
Financing is expected to be secured soon on anattached development called Lee's Landing. This $11 million project will surround the Westin with a 525-space parking garage and ground floor retail and restaurants.
Beale Street Landing
Across Riverside from One Beale next to Tom Lee Park is the site of what will
be a new
Beale Street Landing. This $27.5 million project spearheaded by
the Riverfront Development Corporation will create a new docking facility for
commercial riverboats and public space to bring people to the river.
Plans call for a floating dock and a chain of terraced islets built at different elevations. The project will cover four acres and extend into the Wolf River Harbor.
The project is also expected to be complete in 2007.
For more information on new development in Downtown Memphis, visit the Center City Commission's online downtown projects listing.
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So Far So Good in SoFo
The City Council recently approved the Center City Commission's South Forum Redevelopment Plan, a guidebook for redeveloping the 150-acre blighted area south of FedExForum to GE Patterson, called SoFo.
Developers are realizing the potential that this area offers with its proximity to the burgeoning South Main Arts District - with more than 5,000 residents and growing - and the burgeoning Sports and Entertainment District - home to FedExForum, Beale Street, AutoZone Park and the Peabody Place Entertainment & Retail Center.
Building on this momentum, SoFo has landed a new $3.9 million, 81-room MicroTel Inn & Suites to be constructed on Second between Vance and Butler. The four-story hotel received a 9-year PILOT from the Center City Revenue Finance Corporation and a $37,000 development loan from the Center City Development Corporation. The project developer, Christine Wimbish-Diatta,
fills
a much-needed niche as one of the first minority women developers in Downtown.
The hotel is expected to be complete by May 2006.
Streets Ministries, a Christian youth organization, is building a 34,500-sf facility to host its youth-oriented programs. The $4.2 million facility is under construction on Vance between Fourth and Danny Thomas and will include a new plaza and landscaped parking lot.
A mexican restaurant, The Happy Mexican, will open in a newly renovated site at St. Martin and Mulberry near the National Civil Rights Museum. Renovations are nearing completion and the project received approval for its signage from the
Design
Review Board in December.
Plans are still in the works for Chisca Plaza, the $80 million, 4-block redevelopment from Linden to Vance, and Main to Second. The project includes the redevelopment of the Chisca Hotel into a 150-room Hilton Garden Inn and a new 110-unit Hilton Homewood Suites.
309 Hernando will undergo a $100,000 transformation to turn an existing single-family home into two rental apartments.
Public improvements that have been slated for SoFo include the city's $2.7 million improvements to church Park, widening of Fourth Street south of Linden, and extending Turley to Pontotoc.
For more information on any of these properties or development opportunities in Downtown, contact Andy Kitsinger.
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New Retail and Residential in South Main
The South Main Arts District has secured a major retailer,
American Apparel, a national clothing chain based out of Los
Angeles. Renovations are underway for the store's new space, the 2,400-sf
building located on the northeast corner of Main and GE Patterson across from
The Arcade.
American Apparel prides itself on finding locations in emerging urban areas. This trendy retailer primarily sells t-shirts, underwear and cotton tops and bottoms to a young, urban market.
The store is expected to be open this spring.
Retail in South Main will support its growing residential population. More condos are being built in the former 42,000-sf Machine Shop building at 465 South Main. The $3 million project will include 14-units and indoor ground-level parking. Units will range from 1,300 to 1,800-sf, and sell between $250,000 and $350,000.
The
project is expected to be complete in summer 2006.
Renovations are now underway to convert the former 124-unit Loft Apartments into The Lofts at South Bluff, a 115-unit condo building. This $23 million endeavor will include added enhancements like a fitness center and deluxe penthouse condo.
To date there are more than $105 million worth of current residential projects in the South Main and South Bluffs areas, resulting in more than new 400 residential units.
For more information on current projects in Downtown, visit CCC Current Projects List.
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Potential Buyer for Sears Crosstown
Historic preservationists and residents in the Crosstown area and Evergreen
Historic District are among the many with hopes that the 1.3 million-sf Sears
Crosstown building has a buyer.
It has been announced that a potential developer, DBS LLC2, plans to transform the 18-acre site into a massive mixed-use development with retail, office and residential.
The building has been identified by the Center City Commission as one of the Top Ten buildings for redevelopment because of its possibility to serve as a catalyst for future Downtown development. The Sears Crosstown also made the "Ten in Tennessee" list of the state's most endangered historical sites.
To view the Center City Commission's Top Ten Redevelopment List, click here.
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Harbor of Health Now Open
Harbor of Health, a premiere 7,500-sf health facility in Harbor Town, is now
open, providing primary care services, a full-time doctor on staff, and a
beautifully designed waterfront wellness center.
The patient care clinic is designed as a high-tech, wireless environment so that doctors and staff can spend more time with patients and less time with paperwork.
The wellness center has a waterfront view and offers an assortment of preventive health services like yoga, pilates, aerobics and more. The facility was designed by LRK Architects. For more information, visit harborofhealth.com.
For a listing of other businesses in Downtown, visit the Downtown Business Directory.
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Development Briefs
The Center City Commission has commissioned The Concilience Group to facilitate the development its next 5-year Strategic Plan that will outline areas of focus, goals and objectives to guide growth for the Central Business Improvement District. Downtown Memphis has undergone tremendous redevelopment and growth during the last five years and the CCC will be looking to the future to best serve the needs of the Downtown community.
The
strategic planning process will begin in January with the plan expected to be
complete in June 2006.
The Cotton Museum at the Memphis Cotton Exchange is now open. The $1 million museum explores the impact that the cotton industry has had on our region and culture. The addition of this museum now makes Downtown home to 18 museums. For more on the Cotton Museum, call 901.531.7826.
The $4 million renovation of the historic Hunt Phelan Inn is complete. The historic site has re-opened with a new upscale restaurant called Dinner at the Mansion and The Veranda Bar. The Inn maintains a New Orleans / antebellum decor to match the historical significance of the home. For reservations, call 525-8225.
Click here if you cannot see the video
The Center City Commission implemented a comprehensive campaign to showcase downtown retail over the holidays. The campaign includes a television commercial produced by independent filmmaker Mike McCarthy that is airing on Channel 3, Channel 5 and TimeWarner cable. A printed brochure called Destination Downtown was distributed to 45,000 people to showcase the variety of products from different downtown retailers. The Do Downtown During The Holidays calendar showcased the variety of holiday events, including the Bank of America Downtown Holiday Parade, Downtown Shopping Saturdays, and the Carol DeForest and Friends Holiday Market to draw visitors to Downtown.
FedExForum has unveiled the Green Room area, a new patio designed to create a space for event goers to mingle before events.
Plans are progressing for River Inn, a new 40,000-sf, 30-room bed and breakfast to be constructed in Harbor Town. The $8.8 million facility will include two restaurants and meeting facilities.
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New Downtown Business
Sgt. Jalepeno's Tortilla Company, 100 Adams on the ground floor of the Comfort Inn
Conte's Italian Restaurant, 149 Madison, 901.526.6837
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Upcoming Meeting Schedule
Design Review Board: Wednesday, January 4 at 5 pm
Center City Revenue Finance Corporation: Tuesday, January 10 at 9 am
Center City Development Corporation: Wednesday, January 18 at 9 am
Center City Commission Board: Thursday, January 26 at 12 noon
The above meetings will be held at the Center City Commission, 114 North Main Street. Meeting times and dates are subject to change. For more information, contact Dawn Vinson at 901.575-0555.
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Center City Commission Staff
Executive
Jeff Sanford, President
Nicole Hernandez, Director of Executive Programs
Jerome Rubin, Manager, Diversity Outreach
Development
Andy Kitsinger, Director of Planning & Development
Molly Frey, Real Estate Analyst
Jaske Goff, Development Project Manager
Dawn Vinson, Development Coordinator
Lorie Chapman, Development Assistant
Financial
Jim Street, Chief Financial Officer
Marketing
Lee Warren, Senior VP of Marketing
Tiffany Amore, Marketing Administrative Assistant
Leslie Gower, Director of Communications and Editor
Sridhar Sunkara, Director of Information Systems
Stephanie Ziemba, Marketing and Special Events Manager
Operations
Janet Pfaff, Senior VP of Operations
Dave Rice, Parking Manager/Environmental Coordinator
Christine Taylor, Office Manager/Administrative Assistant
Gaston Davis, Blue Suede Brigade Manager
Blue Suede Brigadiers:
Eugene Brassel
Fannie Garner
Sally Hayes
Mika Hilliard
Charles Jackson
Bobby Parker
Richard Richardson
Johnnie Willis
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Email your questions or comments to Leslie Gower, Editor.