in this issue:
South End Extended Profile
Top TenRedevelopment Sites
Streetscape Upgrades Underway
Minority DevelopmentForum
Condo Report 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.
Development Opportunities
Abound in South End Extended
Residential development is booming in the South End where 4,000 to 5,000 new residents are expected to live within the next few years. A Master Plan has been developed for an area within South End where several development projects underway, totalling more than $230 million. To prepare for imminent growth surrounding this hub of development, the Center City Commission has prepared a development profile for the South End Extended area.
South End Extended lies on the perimeter of a master plan area, and will likely be the next phase of development in the southern end of downtown. The South End Extended Development Profile provides a summary of current conditions and block-by-block development opportunities. Also included is an overview of current zoning, land use, and recent public and private investments.
An analysis shows that there is great opportunity for new infill development in South End Extended. The area is characterized by an abundance of vacant land (approximately 42 acres) and underutilized or vacant buildings. Redevelopment of this area would enable Crump Boulevard, the area's southern boundary, to once again become more of an inviting gateway into the Downtown core.
Click here to view the South End Extended Development Profile. (It may take several minutes to download). For a hard copy of the profile, contact Dawn Vinson, CCC Development Coordinator, at 901.575.0555.
For more information on this and other area profiles, contact Andy Kitsinger, CCC Director of Planning & Development, at 901.575.0592.
[back to table of contents]
Center City Commission Spotlights Strategic Downtown Development Sites
Even with Downtown Memphis' development boom over the past decade, many key properties remain undeveloped and underutilized that present excellent opportunities for redevelopment.
The following is the Center City Commission’s list of ten downtown redevelopment sites that are important to the health and vitality of our city. Each site was selected on the basis of the following criteria:
Click here for a printed version of this list.
For more information on any of these properties or development opportunities in Downtown, contact Andy Kitsinger.
[back to table of contents]
Downtown Streetscape Improvements
Ahead of Schedule
More than $3 million in new alley paving, sidewalk improvements and landscaping is underway in the Downtown Core. These improvements are being funded through the Center City Commission by the assessment fee on commercial properties within the Central Business Improvement District.
Construction on the project is currently ahead of schedule with a completion date for all areas by spring 2006. The construction schedule has been coordinated with area business and property owners in order to keep disruption to their clients at a minimum.For more information on current projects in Downtown, visit CCC Current Projects List.
[back to table of contents]
Minority Development Forum
The Center City Commission's W/MBE Committee is hosting a minority development forum on August 3, 2005, in the Central Station Board Room at 6:00 p.m.
Guest speakers will be minority developers Debra Evans and Belinda Watkins of PJP. PJP is a partner in a new residential development that is underway on Main Street. These developers will present their experience in minority-led development projects and offer an exchange for minorities interested in becoming involved in downtown development.
Anyone interested in participating should contact Jerome Rubin, CCC Manager of Diversity Outreach, 901.575.0581.
[back to table of contents]
Downtown Condominium Report
To match pace with the high residential growth rate in Downtown (10.3% versus 1% in the rest of the Memphis), condo development in downtown is on the rise. More than 1,500 new condo units are planned or underway in Downtown. For details, view the Center City Commission Condo Report.
Condo Conversions
As a part of this residential growth, several downtown apartment-to-condo conversion projects have been announced that will take place within the next two years.The historic Ambassador Hotel at 77 Vance, which was converted into apartments in 2004, will be offering 18 condos as existing leases expire.
A $5.5 million renovation will transform the Shrine Apartments into 74 condos on the corner of Monroe and Front within 18 months. Prices will range from $100K for a studio to $675K for a two-story townhome.
The Rivermark Apartments lining Riverside Drive will undergo a $10 million renovation to convert the existing 199 units into River Tower at South Bluffs, a 153-unit condo complex. Units will range from 750 to 2,400 square feet with prices ranging from $130 to $140 per square foot.
Four floors of the Fogelman YMCA, 245 Madison, will be converted into condos, bringing 24 units that will range from 803 to 1,227 square feet and priced from $115,000 to $205,000. The units will be developed by Echelon, the Texas-based company that developed the adjacent Echelon at the Ballpark Apartments.
Bryton Towers in the Medical District is also being converted into 124 condos. Recently completed conversions include the Claridge House and the Paperworks Buildings.
Although the occupancy rate is over 90%, plenty of rental property is still available in Downtown. Approximately 5,888 apartments and rental homes are available in Downtown. For rental property information, visit the Center City Commission's Residential Occupancy Report.
For additional information on downtown residential statistics, contact Molly Frey, CCC Real Estate Analyst, 901.575.0562.
[back to table of contents]
Development Briefs
The conversion of the historic Kress Building into a 47-room annex for the adjacent Marriott Springhill Suites is nearing completion. The building is expected to be complete by the end of September.
Construction is underway on Harbor of Health, a new 7,500-sf health facility on Mud Island that will offer primary care services in addition to a wellness center. The patient care clinic is being 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 will be designed with a waterfront view and offer an assortment of preventive health services like yoga, pilates, aerobics and more. The facility, which was designed by LRK Architects, is expected to open in late September. Visit their website at www.harborofhealth.comThe Center City Commission's Quality of Life Committee will be examining ways to alleviate panhandling in Downtown. The Committee is in the process of analyzing the Center for Liveable Cities'Helping the Progress Continue, a report on Downtown panhandling issues that was completed in 1999.
The Center City Commission has partnered with alt.Consulting to offer small downtown businesses scholarship opportunities for an intensive business management program. The FastTrac entrepreneurship-training program is an 11-week program that teaches small business owners how to respond to the changes that impact profitability and business longevity by providing strategies for company growth. Classes will be held on Thursday evenings starting August 25 at EmergeMemphis. Program costs are normally $499, but reduced tuition for Center City Commission scholarship recipients is $100. For more information about the scholarship program, please contact Nicole Hernandez at the Center City Commission, 901.575-0542.
Harbor Town was one of 11 recipients of the prestigious Urban Land Institute's Awards of Excellence in the Americas. More than 70 entries from North and South America were judged on issues like sensitivity to the community and environmental issues.
LeBonheur Children's Medical Center will move its inpatient care to a new facility that will be built on the site of Memphis Mental Health Institute at Poplar and Dunplap. Plans call for the state to sell the existing Mental Health Institute site to LeBonheur for $12.5 million and use proceeds from the sale to build a new $27 million mental health institute next to The Med. The mental health facility will open 2007. Click here to view details. The Church of God in Christ (COGIC) has announced an $80 million plan to renovate its Chisca Hotel and redevelop other properties on the block at Main and Linden. Plans call for a mixed-used development project that includes the renovation of the Chisca Hotel, a 150-room Hilton Garden Inn and a new 110-unit Hilton Homewood Suites.
The Radisson Hotel was recently sold to Prism Hotels for conversion into a Double Tree Hotel. The hotel is undergoing an $8 million renovation.
[back to table of contents]
New Downtown Business
First Horizon Mint Distribution is now open in the lobby of the First Tennessee Building, 165 Madison. This specialty store sells United States Mint licensed products. 901.523-4447.
Paradise 7 Emporium has opened at 88 North Main offering new and vintage fashions. 901.438.2202
Big Foot Lodge, a family-oriented casual dining restaurant, is now open at 97 South Second. 901.578.9800.
Baptist Rehabilitation Hospital, a physical therapy, wound care and diabetes management facility, has opened at 1111 Union Ave. 901.529.4045.
Healthy Lifestyle Bistro, a natural foods restaurant and shop, is open at 45 South Main. 901.526.1718.
The Zone, a men and women's apparel store, recently opened on the second floor of Peabody Place Retail & Entertainment Center. 901.527.6650.
Sydnie's Gifts has opened in Peabody Place Retail & Entertainment Center selling jewelry, gems, oils and unique gifts. 901.522.9945.
Hooters has opened at 250 Peabody Place. 901.523.9464.
Coming soon to Downtown:
Celebrity's, 340 Beale.
Conte's Italian Kitchen, 149 Madison
Me and Ms. Jones Homecooking, 288 S Fourth
South Philly, 250 Peabody Place
[back to table of contents]
Upcoming Meeting Schedule
Center City Commission Board: Thursday, July 21 at 12 noon
Design Review Board: Wednesday, August 3 at 5 pm
Center City Revenue Finance Corporation: Tuesday, August 9 at 9 am
Center City Development Corporation: Wednesday, August 17 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.
[back to table of contents]
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
Brad Elmer, Development Project Manager
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:
Fred Beckham
Eugene Brassel
Mary Fleming
Fannie Garner
Sally Hayes
Mika Hilliard
Charles Jackson
Bobby Parker
Richard Richardson
Johnnie Willis
[back to table of contents]
Email your questions or comments to Leslie Gower, Editor.