in this issue:
PyramidPossibilities
City House Condosin South Main
Uptown ResidentialUpdate
FedEx Forum
Infrastructure
Minority Developer Forum
Development Briefs New DowntownBusinesses
Available PropertySpotlight
Upcoming MeetingSchedule
CCC ContactInformation
The Downtown Developer
is a 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.
New Uses Sought for The Pyramid
New uses for The Pyramid are being explored by a mayoral appointed team called the Pyramid Utilization Committee (PUC). The PUC will ultimately select a developer for the facility and/or property. The Center City Commission is represented on the team by president Jeff Sanford, board members Steve Cohen and Marilyn Loeffel, and affiliated board members Ken Goff and Jimmie Tucker.
The committee will conduct a series of public meetings to solicit ideas for The Pyramid from the community at large. Public input will be incorporated in the request for proposals to be issued to developers in early fall.
To make your ideas for The Pyramid heard, attend the first public meeting August 19 at the Botanic Gardens at 5:30 pm.
For information on public meetings for The Pyramid, contact Nicole Hernandez, CCC Special Assistant to the President and Manager of Stakeholder Relations, 901.575.0542.
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City House Condos
Construction on the first phase of a $10 million upscale condominium project in South Main, City House, officially began with a groundbreaking ceremony on July 14.
The new residential complex will contain a total of 36 units spanning three five-story buildings in the vacant land between the Blue Monkey and Emerge Memphis on G.E. Patterson. Of the 24 condos to be constructed in the first phase, more than half of the condos are sold. First phase construction is expected to be complete in spring 2005.
Condos range in size from 1,050-1,840-square feet and in price from $160,000-$330,000. Units in this gated community will feature topline amenities like stainless steel appliances, Corian countertops, 10-ft ceilings, hardwood floors and covered parking. Buildings include party size roof decks and sitting areas for individual use.
A 3,600-square foot commercial ground floor space will front on G.E. Patterson and a 2,000-square foot commercial space in the final phase will face Mina Ave.
Project developer Architectural CustomWorks hopes to begin construction on the final phase this fall.
For sales information on City House, contact Tom Davis at Henry Turley Company, 901.550.7478.
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Uptown Residential Update
Of the 1,000 new homes planned for the area called Uptown, 435 apartment units are complete, and construction is underway on a 114-unit apartment complex and 400 single-family homes.
To support this new development, work has begun on more than $12 million in public infrastructure improvements to streets, curbs and gutters, and sidewalks, and installation of new lighting and landscaping.
The Metropolitan ApartmentsConstruction is underway on this new 114-unit apartment complex that lines Danny Thomas north of Auction. The apartments offer a mix of units for median income and some public housing residents. The first phase of The Metropolitan will be ready in early September and the second phase should be complete in late November.
For leasing or property information for The Metropolitan, call LEDIC at 901.578.2988.
Single-Family Homes
Design templates of some of the houses to be built in Uptown can be seen at Uptown's seven-house demonstration block. Plans call for constructing nearly 400 houses, including 100 market-rate houses, 120 Hope VI houses, and 175 public housing rentals. Construction of the houses will be phased in groups of fifty and include a mixture of the three types of housing.
For information on Uptown homes, contact Alex Mobley at Uptown at 901.525.4880.
Uptown Square
The substantial renovation that turned the former public housing project Lauderdale Courts into a 347-unit market-rate apartment complex called Uptown Square is complete as of last week. The complex is already 75% leased. Most tenants are downtown doctors, professionals and students while 21% of the units are reserved for public housing residents returning to the neighborhood. Facilities include a swimming pool, fitness room, billiards and game room, and wireless access to University of Memphis, and other amenities. Uptown Square is also the site of Elvis' apartment where he lived with his parents during his teen years. Plans for the apartment will be announced on August 9.
For leasing or property information on Uptown Square, call Sue Stovall at 901.523.8662.
Greenlaw Apartments
Of the 88 units in Greelaw Apartments, only 4 units remain unleased. Much like The Metropolitan, this tax credit property provides a mix of housing units for public housing and median income residents.
For leasing or property information for Greenlaw Apts, call LEDIC at 901.578.2988.
The Uptown project is managed by the Uptown Partnership. For more information, visit their website at www.uptownmemphis.org.
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New Infrastructure Around FedEx Forum
As the September opening of the FedEx Forum draws near, work on the $2.8 million in public infrastructure improvements surrounding the new $250 million arena is underway.
Street paving of Third Street between G.E. Patterson and Beale, Fourth Street between Peabody Place and Linden, Hernando between Linden and Pontotoc, and Peabody Place between Third and Fourt Streets has started.
Under the supervision of the Center City Commission, the renovation of Blues Alley (the alley between Beale and the FedEx Forum) is well underway with a completion date of mid August. The improvements to this alley between Third and Fourth Streets will include sidewalks, street lights and stamped asphalt paving that will match the existing paving on Beale Street.
In addition many of the curbs, gutters and sidewalks on the roadways in the vicinity of the new arena that were in a state of disrepair have already been replaced over the past few weeks.
For more information on the public improvements around the FedEx Forum, contact Butch Eder eder@downtownmemphis.com or 901.575.0592.
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Minority Development Forum
The Center City Commission's M/WBE committee is seeking ways to encourage more minority participation in developing Downtown Memphis.
To that end, the committee is hosting a Minority Development Forum on August 5 at 6:30 pm in the Central Station Board Room for minorities interested in becoming a part of Downtown development. Representatives from several local banks will discuss ways for aspiring minority developers to increase their success in obtaining financing for their projects. Panelists will share advice on how to be prepared when applying for a commercial loan and candid reasons that hinder applicants from qualifying.
For information on the CCC Minority Development Summit, contact Nicole Hernandez, CCC Special Assistant to the President and Manager of Stakeholder Relations, 901.575.0542.
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Development Briefs
The Center City Commission presented its annual Vision Awards at its open house on June 29. The Vision Awards honor an organization and an individual that have made outstanding contributions to the revitalization of Downtown Memphis. This year's winners are developer Tony Bologna and the Memphis Grizzlies.
More than $2 billion in private and public projects are underway or recently completed in Downtown Memphis. To get a birds-eye view of these projects, download and print the Center City Commission's "Context Map" (on the right) which shows where development is taking place.St. Jude Children's Research Hospital has begun demolition that will clear the way for a new $80 million, 7-story diagnostic imaging and radiation oncology facility. The facility is the first of two towers to be built on North Parkway near Danny Thomas. This construction is a part of the total $1.2 billion St. Jude campus expansion project.
Effective July 16, the Center City Commission issued a Notice to Proceed on the renovation of Court Square Park to Omega General Contractors. The contract calls for completion in 100 calendar days which will have the construction completed by the last week in October. Improvements to the park include restoration of the gazebo and Hebe Fountain, lighting, new park benches, and landscaping.
More than 50 people camped out overnight to purchase homes in one of the last new residential communities being built on Mud Island. Lenox Homes' Island Point 84-house community, situated behind the Riverset Apartments, will begin construction this month. All of the homes, which range in price from $145K - $218K, have sold.
Phil Woodard has plans to turn this South Main warehouse into a renovated 20-unit condominium building. Woodard is in design discussions with architect Coleman Coker. Located on G.E. Patterson, these condos will neighbor the new City House project.
The Memphis Grizzlies received honorable mention honors from the PRISM Awards (Professionalism, Results and Innovation in Sport Management), for outstanding Community Relations. The PRISM Awards, sponsored by the Sports Business Daily and handed out by the University of Massachusetts Department of Sport Management, are presented annually to franchises at both the major and minor league levels that demonstrate excellence.
The Greyhound Terminal across from AutoZone Park on Union Avenue is moving to a new location near Memphis International Airport. The move will pave the way for new redevelopment possibilities in Downtown. The new site for the terminal and relocation date have not been announced.
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New Downtown Business
Famed Memphis restauranteur Jimmy Ishii is opening Bluefin Edge Cuisine and Sushi Lounge by Sekisui at 135 South Main (Peabody Place Trolley Stop) in September.Also opening at the Peabody Place Trolley Stop is Heavenly Ham, which will be moving into the former "Market on Main Street" site.
Uptown Place, a retail center on Auction between Main and Second Street, has new tenants that are open, including a Shell Station with a Subway Sandwich Shop, and Insights, a black belt academy.
Sal's Famous Hot Dogs, is open at 175 South Third at Peabody Place, serving sandwiches, hot dogs and desserts.
Health Herbs & Harmony, a health food store and deli, is moving from its Central Station location to 45 South Main Street and will be open in early August.
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Available Property Spotlight:
Old County Jail, 463 North Front Street
This unique property across from The Pyramid at Auction and Front has an interesting history.
It is the site of the county's first jail, which was built in 1867 and burned beyond repair in 1903. In the 1930's, the most expensive dog pound in the nation was constructed here. The pound closed in the 70's and remained vacant until four years ago when Ned Reynolds relocated to Memphis from Manhattan, bought it, cleaned it, and moved in.
This 24,672-square foot property boasts unobstructed views of the River and The Pyramid and is situated along the trolley line. Made of reinforced poured concrete, the building on the site is 10,000-square feet and, due to its sound structure, offers upward expansion possibilities. Interior divisions that once separated the dogs have been removed.
Reynolds has taken the property off the market until plans have been decided for The Pyramid but is willing to discuss offers. Sale price for the property is $2.5 million. Monthly lease at $10K.
For more information on the property, contact Ned Reynolds at 901.529.9013.
To review other available properties in Downtown Memphis, click here.
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August Meeting Schedule
Design Review Board: Wed, August 4 at 5 pm
Center City Revenue Finance Corporation: Tues, August 10 at 9 am
Center City Development Corporation: Wed, August 18 at 8:30 am
Center City Commission Board: Thurs, August 26 at noon
The above meetings will be held at the Center City Commission, 114 North Main Street. For more information, contact Dawn Vinson at 901.575-0555.
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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
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:
Eugene Brassell
Fannie Garner
Mika Hilliard
Bobby Parker
Richard Richardson
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Email your questions or comments to Leslie Gower, Editor.