in this issue:
Note: The Downtown Developer e-newsletter will now be distributed on a bi-monthly basis.
2004 DevelopmentRecap
South ForumPlan Drafted
UT College of Medicine Facility
New Main
News
New Apartments Near AutoZone Park
Minority Development Forum
Mexican Restauranton Main
Development Briefs New DowntownBusinesses
Available PropertySpotlight
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.
Closing the Door on 2004
New development surged in Downtown Memphis during 2004 with nearly $500 million in construction and renovation projects completed!
Projects completed in 2004:
The year ahead continues to look bright for Downtown with more than $147 million in construction projects underway and $234 million slated to begin.
For more information on current projects in Downtown Memphis, visit the CCC Current Projects List.
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Redevelopment Plan Drafted for South Forum Area
The Center City Commission has completed a draft of a redevelopment plan for the area south of the FedExForum, called the "South Forum District". The boundaries of this 150-acre area are roughly Danny Thomas, Linden, Mulberry and GE Patterson. The study area was defined to capitalize on development and residential momentum in the adjacent South Main Arts District on the west and the thriving Sports & Entertainment District on the north - which includes AutoZone Park, Beale Street, Peabody Place and the new arena.
The South Forum Redevelopment Master Plan outlines specific block-by-block recommendations for redevelopment, as well as strategies to implement the improvements. These recommendations reflect the 2002 zoning guidelines for this area which, for the most part, limit new uses in the area to residential projects and supporting neighborhood businesses.
The plan will be presented to the Center City Commission board for approval on January 20 and to City Council in March for approval. Click here to view the Executive Summary of the draft.
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UT College of Medicine to Construct New Research Facility
Construction is expected to begin within the coming weeks on a $21 million, 101,000-sf, four-story medical sciences research facility for the University of Tennessee College of Medicine. The new facility, to be constructed on the corner of Monroe and Manassas, will include laboratory and office space for 36 reasearchers and their support staff, in-house conferencing and library rooms, and meeting space.
The design also includes a connector element (either an open plaza or enclosed atrium) that could link the south end of the building to an adjacent site that might be constructed in the future.
For more information on projects in Downtown Memphis, contact Jaske Goff, CCC Development Project Manager, 901.575.0582.
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New Main News
Redevelopment progress continues on New Main, the block on Main Street between Union and Gayoso avenues.
Construction is well underway on a $4 million project located at 85-95 South Main. This project includes the renovation of a historic building and new construction that will bring 15 condos, two penthouses and 7,200-sf of ground floor commercial space to the downtown core. Cash reservations have been placed on all 15 condos. Construction is expected to be complete in May.
A new 48-room boutique hotel is planned for the Family Dollar Building (92-96 South Main). This $1.5 million renovation project of a 26,000-sf historic building will also include 600-sf of ground floor retail space.
Construction is expected to begin on The Vue at South Main in April. The Vue is a $40 million 28-story tower that will include 10,000-sf of ground floor retail space, a 441-space parking garage and 286 apartments.
Wang's Mandarin House, the first restaurant tenant on New Main, is expected to be open in April on the ground floor of the Cornerstone Apartments (113 South Main).
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New Apartments Near AutoZone Park
Renovation plans are underway to turn the 43,000-sf Chauncey-Johnson building (287 Madison) into apartments and commercial space near AutoZone Park and the Downtown Elementary School.
Developer Mike Todd's renovation plans call for ground floor retail and/or office space with 12 apartments above. The basement will be used for a 29-space underground parking facility plus storage for tenants.
Project development will be phased depending on needs of prospective commercial tenants. Phase I construction costs are $150,000. The developer is seeking a development loan from the Center City Development Corporation for facade improvements.
For more information on financial incentives available for Downtown development projects, contact Jaske Goff, Development Project Manager, at 901.575.0582.
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Minority Development Forum
In an effort to encourage more minority participation in development projects, the Center City Commission's W/MBE Committee is hosting a Downtown Minority Development Forum on Thursday, January 27, 2005 at 5:30 p.m. in the Board Room of Downtown’s Central Station (545 S. Main Street).
At this meeting, a panel from various small business assistance/consulting organizations will explain their services and how they relate to the field of development. Representatives will be present from: TN Small Business Development Center, alt.Consulting, MIFA Opportunity Bank, Renaissance Business Center, and MidSouth Minority Business Council. Panelists will discuss services that include basic strategies for aspiring developers, including on business plan development, cash flow analysis, and loan application process.
The CCC’s W/MBE All-Boards Committee is formed of representatives from each of the Center City Commission’s five affiliated boards to help increase minority participation in Downtown development.
For more information on minority developer participation in Downtown, contact Nicole Hernandez, CCC Manager of Stakeholder Relations, 901.575.0542.
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New Mexican Restaurant on Main Renovations are underway that will bring a new three-story Mexican restaurant, Mexican Mango, to a historic building on Main Street.
The 14,000-sq foot building, located at 59 South Main Street, will include 9,000-sf of restaurant space with a rooftop patio and bar. The first floor will include a bar with some eating space while the second floor will be a dining area overlooking the first floor.
Developer Devin Patel hopes this $700,000 renovation project will be complete this spring so that the restaurant could open by Cinco de Mayo.
For more information on projects in Downtown Memphis, contact Jaske Goff, CCC Development Project Manager, 901.575.0582.
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Development Briefs
The Center City Commission is pleased to announce that Andy Kitsinger has accepted the position of Director of Planning & Development. Andy has been an architect since 1986 and most recently was Senior Project Architect with Looney Ricks Kiss Architects. During his tenure with LRK, he served on the development team for several catalytic downtown projects - the FedExForum, AutoZone Park, the Downtown Elementary School and the Uptown Redevelopment Plan. He is Chair of the Landmarks Commission, Past Chair of AIA Memphis, and served as a member of the Riverfront Development Corporation's NEA Competition Grant Committee. In December 2004, the Riverfront Development Corporation completed another project that connects downtown to the riverfront. New paver-style crosswalks have been installed across Riverside Drive at Union, Monroe, Court, and Jefferson Avenues. The project also includes work along Riverside Drive at Carolina and Georgia. The crosswalks will facilitate pedestrian connections to the riverfront.
Right-of-way acquisition for the $6 million North Parkway Realignment project is expected to begin this spring with construction planned in spring of 2006. Plans call for connecting North Parkway to Auction Avenue and phasing the existing North Parkway west of Danny Thomas into the St. Jude campus. Construction will be complete by fall of next year.
Renovations are underway to the Kress Building which will become the historic annex of the adjacent Marriott Springhill Suites. The annex will add an additional 46-suites, meeting space, and first floor restaurant and retail tenants. Renovations to this National Historic Register building will cost $6 million. The National Park Services has approved a second floor connector for the two properties.
The Seaside Institute, in conjunction with Looney Ricks Kiss, is presenting the seminar "Uptown, Downtown, Around Town Memphis", April 27-29. The Seaside Institute is a non-profit organization that promotes and examines New Urbanism, a traditional neighborhood model as found in Seaside, Florida. The seminar will focus on three local case studies: Harbor Town and the Pinch District, AutoZone Ballpark District, and the South Main Arts District. For more information, call 850.231.2421.
The $1 million renovation project to bring Court Square Park and its gazebo back to its original design is expected to be complete by March. New light poles are being installed and walkways are being paved this week. These improvements are funded by the Center City Commission with gazebo improvement assistance by Memphis Rotary Club and lighting upgrades funded by Marriott Springhill Suites and the Sleep Inn at Court Square.
Harbor of Health, a new medical health facility, is expected to open this spring in Harbor Town. This 3-story health center, a $1.2 million joint effort by the Church Health Center, Methodist Healthcare and First Tennessee, will include primary care services and a wellness center with yoga, pilates and health classes.
Over $36 million in renovations are underway to upgrade the 25-story First Tennessee Building (165 Madison Avenue) into Class A office space. This 411,000-sf office building is headquarters to Baker Donelson Bearman & Caldwell, the largest law firm in the region, and will be the future headquarters for First Horizon National, the parent organization for First Tennessee Bank. Renovations are expected to be complete in December 2006.
The Center City Commission has teamed with alt.Consulting to offer small business scholarships to downtown businesses. Scholarship recipients will attend an 11-week FastTrac program and will learn about business loans, marketing, sales planning and financial management. Regular fees for this course are $399. Reduced tuition for CCC scholarship recipients is $100. For more information, contact Nicole Hernandez at 901.575.0542.
Belz Enterprises has announced that Foot Locker, the world’s leading retailer of athletic footwear and apparel, is slated to open at Peabody Place Entertainment and Retail Center in February 2005. Additionally, a 6,500-square-foot Hooters restaurant is scheduled to debut at 250 Peabody Place in spring 2005.
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New Downtown Business
Memphis Coffee Exchange has opened under the same roof as the Memphis Tobacco Bowl at 152 Madison Avenue in the historic Marx & Bensdorf building. The Memphis Coffee Exchange offers fine coffee drinks and pastries along with access to the Tobacco Bowl's humidor and lounge. Wireless internet available. 901.525.2310
Grand Central Subs, is now open for lunch at 51 South Main between Monroe and Union. 901.577.5445.
Bluefin Edge Cuisine, a new sushi bar and lounge, is now open for lunch and dinner at 135 South Main near the Peabody Place Trolley Stop. 901.528.1010 WellWorX Sporting Club is open at 1 North Main (formerly Six50 Sports Club). 901.526.7699.
The Blue Plate Cafe is expected to open by the end of January at 113 South Court, overlooking Court Square. Phone TBA.
H & R Block opened a location at 112 Auction Avenue for tax, mortgage, and financial services. 901.528.1401
Pete's Treats, a "snazzy gift shop for pets and their people", has opened at 502 South Main. 901.272.0001.
Bluff City Bayou, a new cajun restaurant in the medical district, has opened at 694 Madison Avenue. 901.527.0860.
Godfather's Chop Shop, is now open at 293 Jefferson Avenue. 901.523.2020.
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Available Property Spotlight:109 Madison Avenue
The former Merchant Farmer's Bank Building, a three-story building with almost 7,000-sf of space, is available for sale in the downtown core on Madison near Main Street.
This four-story brick building, located at 109 Madison Avenue, is on the trolley line in a highly desirable location near the Madison Hotel, a Walgreens, health club facilities and restaurants.
The asking price for the property is $225,000.
For more information on the property, contact Tucker Beck at 901.378.1300.
To review other available properties in Downtown Memphis, click here.
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Upcoming Meeting Schedule
Center City Commission Board: Thursday, January 20 at 12 noon
Center City Development Corporation: Wednesday, January 26 at 8:30 am
Design Review Board: Wednesday, February 2 at 5 pm
Center City Revenue Finance Corporation: Tuesday, February 9 at 9 am
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.
The Center City Commission office will be closed on Friday, January 21 for its annual staff retreat.
The Downtown Neighborhood Association will meet on January 20 at 6:30 pm at the Rock 'n Soul Museum. For more information, visit their website at www.memphisdna.org.
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Center City Commission Staff
Executive
Jeff Sanford, President
Nicole Hernandez, Special Assistant to the President and
Manager of Stakeholder Relations
Development
Laura Morgan, Director of Planning & Development
Brad Elmer, Development Project Manager
Molly Frey, Real Estate Analyst
Jaske Goff, Development Project Manager
Dawn Vinson, Development Coordinator
Financial
Jim Street, Chief Financial Officer
Marketing
Lee Warren, Senior VP of Marketing
Leslie Gower, Director of Communications and Editor
Sridhar Sunkara, Director of Information Systems
Jerome Rubin, Business Recruitment and Retention Coordinator
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:
Fred Beckham
Eugene Brassel
Fannie Garner
Mika Hilliard
Charles Jackson
Bobby Parker
Richard Richardson
Johnnie Willis
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Email your questions or comments to Leslie Gower, Editor.