in this issue:
Growth in theMedical District
New South Main Apartments
South End Apartment Community
Development Briefs Available PropertySpotlight
November 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.
Growth in the Medical District
Memphis' Medical District is flourishing with new developments. Within the past year, over $260 million in new development projects have been slated for the District, helping to position Memphis as a world-class medical center (see map below).
Most recently, the University of Tennessee Health Science Center revealed plans for construction of a new $70 million UT Cancer Instititute that will include research facilities and patient clinic facilities operated by UT Institute's partner, Boston-Baskin. The 80,000 square foot Institute will employ over 100 physicians and 400 administrative personnel.
This state-of-the-art facility will be built on Manassas at Union where the old Kirby Chevrolet building sits and on surrounding vacant land which abuts one of Memphis' most popular tourist attractions, Sun Studio.
Construction is expected to begin within the year with an anticipated completion date of 18 to 24 months after groundbreaking.
For more information on the Medical District, contact CCC Development Project Manager Jaske Goff at (901) 575-0582.
New South Main Apartments
New apartments are going up in the South Main District. The Talbot Square Apartments will consist of two new buildings to be constructed on vacant land next to the old Amabassador Hotel, one building facing Vance and the other fronting Talbot between South Main and Front Street. The 4,800 square foot structure on Vance will contain four, two-bedroom apartments and the 12,500 square foot Talbot building will have sixteen, one-bedroom apartments. On-site parking will be provided for each unit.
Developers J Hollingsworth and Steve Turgeon are undertaking this project. Their past projects include the Exchange Building, Number 10 Main, the Love Cottages renovation, and Parkway Commons.
Project costs are estimated at $1.1 million. The apartments received a 17-year tax freeze from the Center City Revenue Finance Corporation in October. Construction is expected to begin in December with an anticipated completion date of September, 2003.
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South End Apartment Community
Southland Development has plans for a new residential apartment community on the southeast corner of East Carolina and Florida Street. The South End Apartment Community will have 190-market rate apartments in a newly constructed 165,000 square foot building on what is now vacant industrial land. Retail and commercial space will be included on the bottom floor. Construction is expected to begin in September 2003 with a 12-month completion deadline.
Total project costs are $13 million. The apartments received a 20-year tax freeze from the Center City Revenue Finance Corporation in October.
This project represents the first major development on the south side of South Bluffs. The apartments are a part of the first phase of Southland Development's "South End Master Plan", which lays out plans for single-family housing and mid-rise mixed-use buildings to be built in this once industrial area.
For more information, contact Terry Lynch at (901) 680-0590.
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Development Briefs
MATA has announced that the operation of the trolley system will be temporarily shut down beginning on January 5, 2003. The shut down will last between 60 - 90 days in order to install the new eastbound interchange at Madison and Main Street. Shuttles will be provided on alternate routes during this construction phase.
FaxonGillis has started construction on Potter's Lofts, 24 condominiums in two three-story buildings plus four townhomes on the 500 block of South Front Street (just north of Fratelli's Market and the Corkscrew).
The Memphis Grizzlies have pledged $5 million to fund the $10 million Memphis Grizzlies House, a short-term stay residence at St. Jude Children's Research Hospital for patients and their families. The 70,000 square foot facility will accommodate up to 100 families at a time. The center will include recreational rooms and a playground with a half-court basketball site.
COGIC (The Church of God in Christ) and its Florida-based partner, Group One, have announced plans for an $83 million residential and commercial development on four city blocks in the South Main area, just south of the new arena site. The new development, which spans the area from Linden to Vance between Main and Second, will include partial demolition of the Chisca Hotel.
Uptown Memphis has a new logo. "On the Porch" was designed for the up and coming neighborhood to "symbolize a special place where neighbors chat with neighbors, lookout for one another and sit on the porch reflecting on the simple pleasures of a vibrant community life".
Memphis Grizzlies' Shane Battier opened Prime Ministers in October, an upscale steakhouse at 135 Main Street at Peabody Place (formerly Rialto).
Downtown businesses are encouraged to contact Center City Commission's Existing Business Specialist Leigh Ann Simmonswith questions about running your business in Downtown. For relocation, leasing, or general maintenance questions, contact Leigh Ann at 575-0581.
A Nashville-based developer won the bid on the auction of the U.S. Marine Hospital. The developer secured the rights to the property at the October 25th auction with a bid of $350,000 and has announced plans to renovate the hospital into an elderly care facility.
The City school board unanimously agreed to designate the new K-6 Downtown elementary school as an optional school. Of the 745 student roster, 418 slots will be reserved for optional students and 227 spaces will be reserved for non-optional students living in the downtown school zone. The school is scheduled to open in Fall 2003.
Light It Up plans to add new lighting to the Pyramid this month. This will mark the first in a series of Downtown properties to be lit by Light It Up. For more information, contact Dawn Lopez at 575-0564.
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Available Property Spotlight
Hickman Building: Madison at Fourth Street
The Hickman Building is an 80,000 square foot building located in the Downtown core at 240 Madison and Fourth Street across from the new Downtown school. The building has 8 floors and a penthouse with a two-story attached parking garage consisting of approximately 120 spaces. The property is being marketed as a residential property with possible commercial or retail space on the first floor. The building, circa 1929, is on the National Historic Register and was originally built as a medical arts building. Sale price for the building is $1.75 million.
For more information on this historic building, contact Chickasaw Properties, (901) 767-1383.
To review other available properties in Downtown Memphis, click here.
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November Meeting Schedule
Center City Revenue Finance Corporation: Tues, November 19 at 9 am
Center City Development Corporation: Wed, November 20 at 8:30 am
Center City Commission Board: Thurs, November 21 at noon
Design Review Board: Wed, December 4 at 5 pm
The above meetings will be held at the Center City Commission, 114 North Main Street. For more information, contact Diane Word at (901) 575-0542.
The Pinch District Association will meet on Tuesday, November 12 at 6 pm at the North End. For more information, contact Interim President Julie Ray at 578-8002.
The Main Street RFP Selection Committee will meet on Wednesday, November 13 at 11:30 am at the Center City Commission, 114 North Main Street.
The Center City Commission is conducting a public meeting on Thursday, November 14 at 5:30 pm at the Memphis Cook Convention Center, Room L-2 to inform the public that the Downtown trolley system will be out of operation on January 5 for 60 to 90 days. For more information, contact CCC Existing Business Specialist Leigh Ann Simmons at (901) 575-0581.
The Downtown Neighbhorhood Association will meet on Thursday, November 21 at 6:30 pm at Gordon Biersch Brewery, 145 South Main. Call 525-7510 for more info.
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Center City Commission Staff
Executive
Jeff Sanford, President
Diane Word, Executive Assistant
Development
Myron Hughes, VP of Development and Planning
Brad Elmer, Business Development Analyst
Jaske Goff, Development Project Manager
Laura Morgan, Director of Development
Leigh Ann Simmons, Existing Business Specialist
Lillian Smith, Development Coordinator
Financial
Jim Street, Chief Financial Officer
Marketing
Lee Warren, Senior VP of Marketing
Leslie Gower, Director of Communications
Dena Owens, Marketing Manager
Sridhar Sunkara, Information Systems Manager
Operations
Janet Pfaff, Senior VP of Operations
Gaston Davis, Blue Suede Brigade Manager
Dave Rice, Operations/Environmental Coordinator
Christine Taylor, Office Manager/Administrative Assistant
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