click here to subscribe to this publication
in this issue:
Filling "The Hole"
Downtown Works
Next Stop:North End Terminal
South ForumArea Incentives
Streetscape Phase II 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.
Filling "The Hole"
The Downtown Parking Authority has selected a development project to be built in conjunction with a public parking garage on the "The Hole in the Ground" site at Main and Gayoso.The new development is a five-story, mixed-use project that will include 96 rental apartments, approximately 9,800 square feet of ground floor retail space, and 215 public parking spaces.
A Plan for Main Street
In early 2000, the Center City Commission commissioned a Main Street Development Plan that created a vision and guiding principles to revitalize Main Street. Guiding principles from the plan included:
- Establishing Main Street as the spine for a new Downtown neighborhood that connects and enlivens area attractions and activities and
- Development of a catalytic demonstration project through public/private partnerships on the block of Main Street from Union Avenue to Gayoso.
Next Steps Toward a New Main
April 27 marked a new chapter in the Main & Gayoso story when the DPA made its selection from four viable development proposals for the site. The development group for the 100 South Main project consists of Greenhat Partners, Slovis & Associates, Henry Turley Company, Calvin Anderson, Gregory Duckett, Willie Gregory, and Herbert Hilliard. DPA owns the land and will manage the parking garage.
The total project cost is $18.8 million, and the project includes 20 percent of W/MBE ownership participation. Construction is scheduled to begin by the end of the year.
Click here to download the Main Street Master Plan.
For more information about downtown development projects, click here to view the CCC's Current Projects list.
[back to table of contents]
Downtown Works
Several Downtown stakeholders - including CB Richard Ellis, Belz Enterprises, Parkway Properties, Center City Commission, and the Memphis Regional Chamber of Commerce - have launched a campaign to increase awareness about the benefits and amenities of working in Downtown Memphis. One goal of the new campaign, Downtown Works, is to disspell misconceptions about Downtown office space and the Downtown working environment.
The campaign delivers such key points about the Downtown office market as:- Downtown office rates are competitively priced. On average, Downtown's Class A office space is $5 (30-40%) less expensive per square foot than Class A office space in the East Memphis submarket.
- Downtown has convenient, affordable parking. With 40,000 parking spaces in the area, every Downtown office building is ensured comfortable proximity to covered parking. In addition, a study done by Colliers International in 2006 concluded that Downtown Memphis has THE most affordable Downtown parking rates in the country.
- Downtown is safe. In fact, according to the Memphis Police Department, Downtown is the safest precinct in the city, accounting for less than 4% of crime citywide.
- Commuting to Downtown is easy. With two interstate systems feeding into Downtown, it is less than a 30-minute car ride to Downtown Memphis from anywhere in the city.
- Downtown has unique office spaces. From loft studios to corporate office buildings, Downtown offers the gamut of office spaces to meet the needs of both small and large companies - and has the only river views in the city.
- The Downtown working environment has no rivals. With great restaurants, nightlife, sports, and services all within walking distance, Downtown offers a working community unlike anywhere else in the city.
[back to table of contents]
Next Stop: North End Terminal
Memphis Area Transit Authority is building a new trolley stop at 447 North Main Street in front of the North End bus terminal.
The North End terminal is a destination for approximately 80% of MATA's buses. The terminal has also been a busy, albeit unofficial, stop for the Main Street trolleys, and the new split-platform structure will provide safe, convenient passenger access.
The North End trolley stop will incorporate design elements from existing stops along the Riverfront Loop and the Madison Avenue line. It will have a wheelchair ramp, an overhead canopy, and landscaping along the perimeter.
The project cost is $585,000; construction is scheduled to be completed by the end of the year. Barnes & Brower, Inc. is the general contractor.
For more information about Downtown development projects, click here to view the CCC's Current Projects list.
[back to table of contents]
Developer Resource Spotlight: South Forum Redevelopment Area Incentives
In 2004, the Center City Commission led a community initiative to create a redevelopment plan for the South Forum neighborhood. That plan became public policy in 2005, and the redevelopment of this neighborhood - which covers a 150-acre area roughly bounded by Mulberry, Danny Thomas, Linden, and GE Patterson - is a high priority for the CCC and the community.
The Center City Commission has modified its financial incentive programs in order to encourage and facilitate development in the plan area. Eligible projects that are located within the boundaries of the South Forum Neighborhood can now accumulate an additional 3 years in the PILOT program (toward a maximum total of 15 years) and/or $20,000 in the Development Loan program (toward a maximum loan of $90,000).
For more information about CCC development incentive programs, contact Jay Goff, Development Project Manager, at 575-0582 or goff@downtownmemphis.com.
Click here to download the South Forum Master Plan
Click here to download the Development Loan application.
Click here to download the PILOT program application.
[back to table of contents]
Streetscape Improvement Project, Phase II
The Center City Commission is preparing to implement Phase II of the Downtown Streetscape Improvement project.Ritchie Smith Associates has been selected to provide professional design services for this phase of the project, which will include replacement of North Court from Second Street to Main Street, as well as sidewalk improvements on Main Street, Jefferson Avenue, and Second Street around the Court Square Center project.
Streetscape Phase II will take an estimated 16 months to complete from design and planning through construction. The total project cost is $550,000.
For more information about Downtown development projects, click here to view the CCC's Current Projects list.
[back to table of contents]
Development Briefs
Save the Date! The Center City Commission's Annual Meeting will take place on Thursday, July 19 at the Peabody Hotel from 11:30 a.m. to 1:30 p.m. Special guest speaker is Brad Segal, founder and president of Denver-based Progressive Urban Management & Associates, and one of the nation’s leading authorities on downtown trends and issues. Mr. Segal will present a thought-provoking look at global trends and how those trends will affect Downtown Memphis. Please contact Stephanie Ziemba, Director of Marketing and Special Events, for more information.
The second season of the Memphis Farmers Market is in full swing at the Central Station Pavillion. The market is held every Saturday from May through October between the hours of 7:00 a.m. to 1:00 p.m. and features fresh produce, artisanal goods, and craft items from more than 50 hand-selected vendors. The new market café serves breakfast and lunch.Carlisle Corporation has announced that its One Beale project will include a 240-room Hyatt Regency Memphis Hotel and Spa. Hotel amenities will include two restaurants, a coffee shop, a spa and treatment facilities, a lobby with private bar, a fitness and workout facility, and a 10th floor swimming pool and sundeck. The $175 million One Beale project will include 150 luxury condominiums; condo owners will have access to hotel amenities.
One Beale will be the featured catalytic project at the next Inside Downtown, the Center City Commission's monthly networking event for urban advocates. The meeting will take place on June 6 at 4:30 pm in the newly designed One Beale sales office and model at 263 Wagner (formerly Joe's Crab Shack). Chuck Pinkowski, local hospitality market consultant, completed the feasibility study on the hotel portion of the project. Mr. Pinkowski will discuss what it took to get this project going and its anticipated impact on the local market. Please RSVP to Leslie Gower, Director of Communications, at 901.575.0561 by June 4.
The first annual Mid-South Fall Retailer Kickoff 2007 will take place August 22 - 23 at Grand Casino Tunica. This networking and dealmaking event will feature national, regional, and local retailers. Activities include a golf scramble, BBQ dinner and buffet, and live entertainment. Proceeds from the event will benefit Memphis Business Academy. Visit www.RetailerKickoff.com or contact Katrina Shelton, Business Recruitment Manager, for more information.The Center City Commission's W/MBE Committee is hosting a bus tour of the Central Business Improvement District. The tour will highlight the many development projects that are currently underway or recently completed, explain their potential impact on the district, and provide aspiring developers with insights that will translate into ideas for future projects. The tour will be held on Wednesday, May 30 and will depart from the CCC offices (114 N Main) promptly at 2:00 p.m. Seating is limited; please contact Jerome Rubin, Manager of Diversity Outreach, at 901.575.0581 to RSVP.
TDOT has begun construction on the North Parkway Realignment Project, which will connect North Parkway directly to Auction Avenue at Danny Thomas Boulevard. The $6 million project will also include realignment of Jackson Avenue with Mill Avenue.
Larry A. Bloom has joined the Center City Commission staff as Public Safety Coordinator – a position designed to serve as a liaison between private businesses, security, and public safety agencies on issues affecting Downtown Memphis. His initial responsibilities will include overseeing the continued implementation of the Downtown Memphis Public Safety Plan, as well as developing and implementing new strategies to enhance public safety.The Center City Commission is considering nominations for two vacancies on the Design Review Board (DRB): one graphic design professional, and one downtown business person who is also a downtown resident. The DRB serves to review applications and make decisions regarding building façades and site plans for public projects and projects that receive CCC incentives, as well as review applications and grant approval for signs within the CBID. This board meets on the 1st Wednesday of each month at 5:00 p.m. Please forward résumés for consideration by May 31st to Christine Taylor at taylor@downtownmemphis.com or via fax at 901.575.0541.
Construction is near completion on the Riverbend Place Apartments. VOB Development, LLC held a ribbon-cutting and grand opening event on May 23. The $3.8 million project consists of four two-story buildings with a total of 30 affordable apartment units at the intersection of North Main Street and Looney Avenue.
[back to table of contents]
New Downtown Businesses
Westin Memphis Beale Street Hotel, 170 Lt George W Lee Ave, (901) 334-5900
Tyiese Scarpa, Women's shoes and accessories, 515 S Main St, (901) 521-4660
Daily Grill, American cuisine, 170 Lt George W Lee Ave, (901) 334-5950
Circa restaurant, French and Mediterranean cuisine, 119 S Main St, (901) 522-1488
Runway Boutique, Women's boutique clothing and accessories, 522 S Main St, (901) 525-0024
Blues City Pastry Shop & Coffee Bar, 153 S Main St, (901) 576-0010
Winfield Shoes & Accessories, Men's shoes and accessories, 2 S Main St, (901) 490-0542
[back to table of contents]
Available Property Spotlight:
603 Monroe
Originally built in 1915, this two-story wood structure has a full basement, commercial kitchen, and bar/restaurant space.
The property is located between Lauderdale and Marshall Avenue within Downtown's eclectic Edge Neighborhood and within walking distance of Sun Studio, several art galleries, and Hattiloo Theater.
The sale price is $349,000. Note: The restaurant and the lease for the adjacent parking lot are also available for a separate sale price of $65,000. Contact Tucker Beck at Crye-Leike Commercial, 901.378.1300, for more information.
To review other available properties in Downtown Memphis, click here.
[back to table of contents]
Upcoming Meeting Schedule
Design Review Board: Wednesday, June 6 at 5 pm
Center City Revenue Finance Corporation: Tuesday, June 12 at 9:30 am Center City Development Corporation: Wednesday, June 20 at 9 am
Center City Commission Board: Thursday, June 28 at 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.
[back to table of contents]
Center City Commission Staff
Executive
Jeff Sanford, President
Nicole Hernandez, Director of Executive Programs
Jerome Rubin, Manager of Diversity Outreach
Development
Andy Kitsinger, VP of Planning & Development
Lorie Chapman, Urban Planner
Jaske Goff, Development Project Manager
Katrina Shelton, Business Recruitment Manager
Dawn Vinson, Development Project Manager
Financial
Jim Street, Chief Financial Officer
Marketing
Lee Warren, Senior VP of Marketing
Leslie Gower, Director of Communications
Sridhar Sunkara, Director of Information Systems
Stephanie Ziemba, Director of Marketing and Special Events
Lizzy Street, Marketing Intern
Operations
Janet Pfaff, Senior VP of Operations
Larry Bloom, Public Safety Coordinator
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
Christopher Henes
Carl Hibler
Charles Jackson
Tara Maxwell
Bobby Parker
Timothy Parks
Johnnie Willis
[back to table of contents]
Email your questions or comments to Dawn Vinson, Editor.