in this issue:
RedevelopingLandmark Buildings
Up and Going in the Uptown Neighborhood
National Civil Rights Museum
Expansion
New Living Spacesin South Main
Brodnax Building Renovation
Progress on Main Street Redevelopment Development Briefs Available PropertySpotlight
September 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.
Downtown Memphis is undergoing an explosive $2.3 billion building boom, an urban renaissance that is transforming the heart of the city.
The face of Downtown is changing with landmark projects like the new Downtown arena, Peabody Place Entertainment & Retail Center, the expansion of the Memphis Cook Convention Center with its new 2,100 seat Cannon Center for the Performing Arts, a new 750 student K-6 school, the Uptown Neighborhood Redvelopment Plan and the Riverfront Development Corporation's Riverfront Master Plan. As important as these large-scale projects are, the smaller development projects and their tenants define the character of the city . . . a new flower shop, a farmer's market, independently-owned restaurants, renovated loft living spaces, New York-style grocers, unique gift stores and galleries, and amenities that have transformed Downtown Memphis into one of the largest urban neighborhoods in the South.
With so much happening, we hope that you'll find this monthly update of development projects in Downtown Memphis informative.
Jeff Sanford, President
Memphis Center City Commission
Development Plans for Rhodes Jennings and
Court Annex Buildings
A developer has been selected to preserve and redevelop two landmark buildings in Downtown Memphis that are on the National Register of Historic Places.
In June, the Center City Development Corporation (CCDC) issued a request for development proposals for the Rhodes Jennings and Court Annex Buildings near Court Square. After an intensive interview and review process, CCDC selected CGI Partners, a Prague-based organization that has teamed with local partners.
CGI's plan calls for transforming the buildings into a residential complex complete with basement level parking, ground level retail and office space, and loft-style residences.
CGI's first goal is to stabilize both buildings which suffer from serious structural deterioration, collapsed roofs, and water damage. Renovations call for existing structures to serve as the framework for new internal structures with sensitive space restoration of the unique and historical building facades.
Click here to read the buildings' history and description.
Up and Going in the Uptown Neighborhood
Two substantial residential developments, a new retail center, and construction of a bank have kicked off the redevelopment efforts planned in the Uptown area. Click here to see a map of new developments in UPTOWN.
The Center City Revenue Finance Corporation (CCRFC) approved 20-year PILOTs (Payment-In-Lieu-of-Taxes) in July for two residential development projects in Uptown, including the Greenlaw Apartments. This $6.2 million project, located in the heart of the Greenlaw Neighborhood, will consist of 66 newly constructed units in 22 former
public housing buildings. Construction is expected to begin in the fall of 2002. The other residential project is the historic rehabilitation of the public housing development Lauderdale Courts, to be renamed is UPTOWN Square Apartments. This $27.2 million project will include renovation of the existing 442-unit public housing project built in 1938. When complete, the development will consist of 347 newly renovated units targeted to low and middle-income households with 76 units reserved for public housing residents.
To service the residents in the Uptown neighbhorhood, a new retail strip center is being built on a lot that has been vacant for years. The retail center, entitled SAM (Second Auction Main) because of its location, will house 25,000 square feet of retail space on the first floor, including a convenience store with a gas station and several other small retailers. Ten residential units are planned for the upper floors. This is a $2.3 million project with construction expected to begin in mid-September with an anticipated completion date in April, 2003. The project received an 18.5 year PILOT from CCRFC in August.
The corner of Auction and Front is the future site for the new Cordova-based First Alliance Bank. This 6,000 square foot, full-service bank will have a drive-up, 24-hour ATM and extended bank hours. Construction on this $2 million project is expected to begin in October with completion anticipated for early spring. The project received a 14-year PILOT from CCRFC in August. This venture represents one of the first major private investments in the Uptown area and one of the first, new freestanding banks in Downtown in years.
The Uptown Initiative is a 15-year, $193 million joint venture between the Memphis Housing Authority, City of Memphis, Henry Turley Company and Belz Investco to redevelop and revitalize the land north of the Downtown core (in the North Central Business Improvement District). Over 1,150 rental or for-sale residential units will be built in this area. The estimated economic impact of the redevelopment of the Uptown neighborhood will be in excess of $1.5 billion.
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National Civil Rights Museum Expansion Nears Completion
The National Civil Rights Museum expansion, which began in February 2001, is expected to be complete by late September. This $11 million expansion adds 12,800 square feet to the Museum, including two remote buildings connected to the Museum by a tunnel, a new outdoor promenade area, conversion of a gift store into a bistro, and a new gift store facing Main Street. The expansion will now include the the building where James Earl Ray fired the shot that assassinated Martin Luther King, Jr. Click here to see the expansion plans.The Museum will also expand its exhibits beyond civil rights to focus more on human rights. New exhibits will explore the growth and changes that have taken place in Memphis since 1968.
For more information about the National Civil Rights Museum, contact Rhonda Turner, Public Relations Director at the Museum, at (901) 521-9699 x225.
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New Living Spaces in South Main
Woodard Properties is in the midst of renovating two historic buildings in the South Main Arts District for residential developments. Renovations are planned for the 13,000 square foot E-Z Storage Building located at 493 South Main. Plans include retail tenant space on the bottom floor and three residential loft apartments on the two upper floors. Each loft will be a spacious 2,600 square feet and rent for about $1,800 per month.
This $700,000 project received a $58,500 development loan from CCDC in July and a 10-year PILOT from the CCRFC in August. This project is expected to be complete in February 2003.
Just around the corner, twenty-one condominiums are under construction in the historic, seven-story ICB Building at 135 G.E. Patterson. This is a $3.5 million project expected to be complete by February 2003.Woodard Properties has developed seven residential properties in the South Main area over the past six years.
For more information, contact Phil Woodard at (901) 365-1125.
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Bringing Back the Brodnax Building
Renovations are underway in the historic Brodnax Building located on the corner of Main and Monroe. The building, which has been vacant for more than a decade, contains five stories and a basement. The basement and first floor, which total 7,200 square feet, are being marketed for bar and restaurant tenants. The second and third floors, each 4,000 square feet, will be renovated for office tenants. The top two floors will contain one large 2,400 square foot residential apartment per floor.
Total project cost on the building is estimated at $1 million. This project received a 20-year PILOT from the Center City Revenue Finance Corporation in May.
For more information, contact developer Gail Palmer-House
at (901) 649-5642.
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Main Street Demonstration Block UpdateAs part of the Center City Commission's Main Street Redevelopment Plan, the CCC has been working with the owners of the eighteen buildings located on Main Street between Gayoso and Union to revitalize the currently neglected area.
The Downtowner Magazine published an article in its August issue that gives an overview of the Main Street Plan and its current status. Click here to read the article.
For more information on the Main Street Demonstration Block, contact Laura Morgan, CCC Director of Development, at (901) 575-0584.
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Development Briefs
Construction on the new Downtown Arena officially began with a groundbreaking ceremony held on June 20. The arena is scheduled to open in the fall of 2004.
Butler Street Bazaar, the first Downtown farmer's market, opened over Labor Day Weekend at 11 West Butler Street in South Main. The bazaar will offer organic produce on Saturdays and Sundays initially, with hopes of eventually staying open all week. For more info, call 527-9700.
EmergeMemphis, the first business incubator in Memphis, held its grand opening on July 18 in its new warehouse-style office building. EmergeMemphis was created to support entrepreneurial growth in Memphis by offering business consulting, financial oversight, access to business development firms and low overhead shared services to area entrepreneurs. Sixteen companies are currently "incubating" at EmergeMemphis.
The 16-floor, boutique Madison Hotel opened in June offering 110 sleeping rooms, 44 suites and conference room capacity for 130. Grill 83, the hotel's bar and restaurant, opened in mid-August.Construction on the $92 million Memphis Cook Convention Center expansion and its new 2,100-seat Cannon Center for the Performing Arts is anticipated to be complete by the end of this year.
WREG Channel 3 has found a unique venue for its new television studio at the Peabody Place Entertainment and Retail Center . In "Today Show" fashion, a glass-enclosed, state of the art studio will have streetscape viewing of traffic in Peabody Place. Channel 3 will have daily programming from the studio entitled, "Live! from Peabody Place", which will include a new news talk format on weekday mornings. Airing from the studio is expected to begin in early fall.
Pat O'Brien's on Beale Street is scheduled to open in early September, marking the first Pat O'Brien's franchise and the first new building in the downtown historic district in about 20 years. This $5.4 million project received a $62,000 development loan from CCDC.
Dawn Lopez has been selected as the Project Coordinator for Light It Up, a program designed to illuminate Downtown. Dawn will be working at the Center City Commission offices and can be reached at (901) 575-0564.
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Available Property Spotlight
The Welcome Wagon Building: 30 North Second Street
Built in 1903, the Welcome Wagon building , also known as the Snyder Building, is located on the corner of Second Street and Court Avenue overlooking Court Square. This is a multi-tenant, four-story office building with a basement and an attic totaling 31,380 square feet. Parking is accessible in four nearby garages.
For more information on this historic building, contact Cavett Fallis at The Garland Company, (901) 527-7779, x 231.
To review other available properties in Downtown Memphis, click here.
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September Meeting Schedule
Design Review Board: Wed, Sept 4 at 5 pm
Center City Revenue Finance Corporation: Tues, Sept 17 at 9 am
Center City Development Corporation: Wed, Sept 18 at 8:30 am
Center City Commission Board: Thurs, Sept 26 at noon
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 Downtown Neighborhood Association will meet on Thursday, September 19, 6:30 pm at The Madison Hotel. For more meeting or membership information, call 525-7510.
The Memphis Renewal Community Conference will be held on Monday, September 16 at the Memphis Cook Convention Center from 8 am to 1:15 pm. Businesses within Memphis Renewal Community should attend to learn how to lower federal tax liability. For more information, click here or call Dottie Jones at the City of Memphis, (901) 576-6567.
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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, VP of Marketing
Leslie Gower, Director of Communications
Dena Owens, Marketing Manager
Sridhar Sunkara, Information Systems Manager
Operations
Janet Pfaff, VP of Operations
Gaston Davis, Blue Suede Brigade Manager
Dave Rice, Operations/Environmental Coordinator
Christine Taylor, Office Manager/Administrative Assistant
Bonita Trezevant, Parking Manager/ Environmental Coordinator
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