29 replies to this topic

[Rardy]

TchulahomaKid38118, on Oct 19 2007, 03:55 PM, said:

I don't know if this has already been posted but I found this interesting article, which is dated back in Sept. of 07', on the Memphis Daily News website stating Memphis as a long haul market. It was interesting to read that a man by the name of Bill Sporano - President of California-based Better Buildings & Apartments LLC- is looking to relocate his business and family from The Bay Area to open up shop here in Memphis in March.

I am pretty excited to hear an outsider so eager to rebuild the blighted areas within the Whitehaven and even the Frayser area. The guy already purchased the Birches Townhomes on the corner of Winchester and Graceland and he also looking to acquire other properties in need of rebuilding. More will catch on to the Aerotropolis concept surrounding the Whitehaven area and new Nike Distribution Center in Frayser and hopefully they will see the vast land in those areas as lucractive. But all of this will take time, no doubt. I really hope that all of this comes together in my lifetime, I'm 24 now.

Rardy, is this the Winchester group that you were referring to?

...I really don't know  

But there's been a ton of out-of-state investors buying apartments, warehouses, and office buildings over the past 2 years.  It's remarkable, but it's only because the price of property here is so cheap.

[Memphis77]

UPDATE on the Graceland area plans. It was on Fox13's site that the City council was to support the plans this week and that the cost of the project is now going to be much more than the $250 million originally anticipated. They're not saying how much it will cost but that it will NOT cause a tax hike or taxes being raised at all. That should be the main issue and shouldn't set this thing back at all. It is being referred to as the single most largest private investment in memphis city history! The project is going to include a massive hotel, a new convention center, a new walkway to Graceland, a streetscape and gateway, and new Elvis-related museums and attractions around Graceland mansion.

Groundbreaking could begin as early as February 2008!!!   

Edited by Memphis77, 06 December 2007 - 07:32 PM.

[Clobber]

Memphis77, on Dec 6 2007, 08:30 PM, said:

UPDATE on the Graceland area plans. It was on Fox13's site that the City council was to support the plans this week and that the cost of the project is now going to be much more than the $250 million originally anticipated. They're not saying how much it will cost but that it will NOT cause a tax hike or taxes being raised at all. That should be the main issue and shouldn't set this thing back at all. It is being referred to as the single most largest private investment in memphis city history! The project is going to include a massive hotel, a new convention center, a new walkway to Graceland, a streetscape and gateway, and new Elvis-related museums and attractions around Graceland mansion.

Groundbreaking could begin as early as February 2008!!!   

February seems a little ambitious to me, but this is great news nonetheless.  Can't wait to read more as the other news outlets pick up the story (hopefully).

[Memphis Love]

wow this sounds great, cannot wait for this project to begin moving.  

[Memphis77]

I saw this on an Elvis forum. It's an article from the Commercial Appeal about business moving forward in the redevelopment of the Airport area, and says that EPE is expected to invest $750 M to $1 billion into the Graceland expansion. That's a whole lotta money to be putting into the King's digs.
http://www.commercia...r-aerotropolis/

[Memphis77]

New info into what's going to happen with the Graceland area, or there lack of. It sounds to me as if Sillerman's planning to controll the entire area and turn it into a new Entertainment district with nightclubs and upscale restaurants and 5 star hotels, all built around Graceland. I could see the Memphis Rock & Soul Museum relocate from downtown at the Forum to the new district for impacting tourism in that area. But first thing's first. The Graceland/Whitehaven area needs to be rezoned from residential to commerical for this to happen. This could turn out to be the future of Memphis tourism and boost the Memphis economy to an all time high.

http://memphisdailyn...e.aspx?id=38205

[Clobber]

I think it would be nice to ADD another tourism attraction/district to what we already have.  As long as it complements what we already have, and raises the tide for all boats, so to speak, this will be a GREAT thing.

[memp600]

Heard this project mentioned the other day on the radio here.  The main guy behind this project has gone into some type of bankruptcy.  He still owns all the land and they said it will not affect what is supposed to happen in Memphis.  Said he still has two projects online even through all of his bankruptcy problems.  One being in Vegas the other being Memphis.  Said that he might have to choose between the two, I believe, and said that the Memphis project will probably go foward if it came to that because of the low cost.  Don't know what the Vegas Project was but the cost was insane because of the real estate prices over there.  Said nothing about the project has changed.  It will still be a huge project with hotels, conventions, etc.  just that it may have to wait until the economy has leveled off.  They seemed pretty optimistic and upbeat about it.

[MtownGuy]

The Vegas project was a proposed Elvis themed resort hotel and casino. It fell though due to the economy. The plans for Graceland are put on hold for now also due to the economy but will begin sooner than later. Now that the economy is looking to pick up to a stable level again, we could see work begin on the redevelopment of the Graceland area within the next 10 months. This is gonna be a 5 or 6 year project that will include both private and public funding. The redevelopment areas are from E.Brooks all the way down to E.Shelby Dr. down Elvis Presley BLVD. But it's definitely gonna happen. The question is when. But when it's all done it will give Memphis in general a whole new outlook globally.

[MtownGuy]

The redevelopment plans for Graceland are back on the table and a meeting is being scheduled for sometime in mid to late January in Memphis to discuss a definitive plan.   http://www.commercia...t-for-redesign/