Sterick Building Redevelopment

[Memphisborn]

27 minutes ago, MDC26 said:

There's been two new grocery stores open up in the South Main area.  Still not ideal for downtown core.  For downtown there is the Walgreens, Express Mini-Mart, and the DGX.  The DGX is probably the best option.  I don't think they have fresh produce, but the have the pre-packaged produce and grab and go stuff, as well as frozen food.  

It will probably be 4 years before the Sterick renovation is completed, but will be nice with it,  100 N Main, and hopefully the Dermon plant goes through.  

Yes it will take sometime for Sterick Redo to happen. I’m just hoping that a five star hotel component will be a part of it. Hilton Conrad would be nice

[Tony Randolph]

I am familiar with those stores, but to me, a grocery store must have fresh fruit and veggies.  South Main is quite a walk from the downtown core and the downtown core has never been able to replace the Easy Way store.  Maybe, the Sterick could have a grocery in one of the upper floors like the John Hancock in Chicago if the pharmacy could be put to better use.   Heck, I would be overjoyed it someone bought the Easy Way store downtown and reopened it as a green grocery.   I doubt this would happen since the demise of Easy Way is a pretty complicated story.

On another note, I promised my son I would take him to the new car show this weekend, and hopefully someone can let me in the Sterick after the show.  I did get a chance to walk in during the Pressbox building right before they started demo, and I thought I walked back into 1976.

[MDC26]

12 hours ago, Tony Randolph said:

I am familiar with those stores, but to me, a grocery store must have fresh fruit and veggies.  South Main is quite a walk from the downtown core and the downtown core has never been able to replace the Easy Way store.  Maybe, the Sterick could have a grocery in one of the upper floors like the John Hancock in Chicago if the pharmacy could be put to better use.   Heck, I would be overjoyed it someone bought the Easy Way store downtown and reopened it as a green grocery.   I doubt this would happen since the demise of Easy Way is a pretty complicated story.

On another note, I promised my son I would take him to the new car show this weekend, and hopefully someone can let me in the Sterick after the show.  I did get a chance to walk in during the Pressbox building right before they started demo, and I thought I walked back into 1976.

Yeah, those stores don't have fresh fruit/vegetables, so maybe something will happen in the future.  There definitely won't be one on an upper floor.  I know the Walk on Union planners were trying to get a grocery store in their development, but who knows when that project will get going.  

[Memphisborn]

7 hours ago, MDC26 said:

Yeah, those stores don't have fresh fruit/vegetables, so maybe something will happen in the future.  There definitely won't be one on an upper floor.  I know the Walk on Union planners were trying to get a grocery store in their development, but who knows when that project will get going.  

The walk why a great concept and design. May have been way too ambitious to begin with. It’s puzzling Covid aside they could have @ least did half the project by now, with all the city/county incentives they received they were in good position to move forward now it’s just prime vacant property in wait and see mode. Smdh 

[Tony Randolph]

Grocery stores are a tough and competitive business to operate and from an operational standpoint, I can see why there are many food deserts and so few grocery companies in Memphis.  Fresh food is highly time sensitive and requires a mass amount of labor to prepare and display.   I know, I used to work in a supermarket.   Back then, grocery labor was dirt cheap.  More expensive labor only adds to the difficulty.   Plus, this is Memphis, and the higher-than-average crime rate must be factored into the equation.

I can see how it could be tough to run a grocery in the Sterick.  I do not know where trucks could back end.  I knew several people who worked at Easy Way downtown, and it was hard enough for them to keep stocked.  I do not know the status of the low-rise buildings across the street, but maybe one of them could be converted into a grocery.

 

[Tony Randolph]

Sure would be cool if all of us Sterick fans could have a walk through before the work begins in ernest.

[The Guardian of Memphis]

20 minutes ago, Tony Randolph said:

Sure would be cool if all of us Sterick fans could have a walk through before the work begins in ernest.

Yes indeed. Especially when it is finished. 

[Memphisborn]

On 4/10/2023 at 11:08 PM, DowntownUrbanite said:

Anything short of a JW Marriott, Ritz Carlton, Renaissance, St. Regis, Waldorf Astoria, Four Seasons, or Luxury Collection would be a slap in the face to the beauty of this building. 

Yes I agree. Was checking out the Joseph in Nashville a luxury collection hotel. A brand like that for Sterick would be ideal. Let’s see what the new owners/ developers decide right now it’s being pitched as apts, restaurant, retail but that could change 

[Tony Randolph]

There is already the Hotel Indigo right next to the Sterick.  Please another hotel a couple of blocks away.  I am no expert, but I think we have enough hotel rooms in the area.

 

[Tony Randolph]

Forgive the above misspelling, I meant to write Plus instead of please.  

[James Owen]

On 6/13/2023 at 12:14 PM, Tony Randolph said:

There is already the Hotel Indigo right next to the Sterick.  Plus another hotel a couple of blocks away.  I am no expert, but I think we have enough hotel rooms in the area.

But not enough when it comes to large full-service hotels, which are needed the most Downtown.

Right now, only The Peabody and the Sheraton can hold 400+ people compared to the smaller-scale limited service ones like the Hotel Indigo, Hotel Napoleon, etc. that have less than 200 rooms.

[The Guardian of Memphis]

On 6/14/2023 at 3:53 PM, James Owen said:

But not enough when it comes to large full-service hotels, which are needed the most Downtown.

Right now, only The Peabody and the Sheraton can hold 400+ people compared to the smaller-scale limited service ones like the Hotel Indigo, Hotel Napoleon, etc. that have less than 200 rooms.

Hopefully when the docks are expanded and we see more cruises we’ll have more hotel rooms. I guess it’s a wait and see approach (and being cautious) unfortunately. 

[Memphisborn]

19 hours ago, The Guardian of Memphis said:

Hopefully when the docks are expanded and we see more cruises we’ll have more hotel rooms. I guess it’s a wait and see approach (and being cautious) unfortunately. 

That’s a good thought. The dock expansion plus additional foot traffic from more cruisers should expand the hotel demand. 

[Tony Randolph]

My son and I drove by the Sterick Building last week and the American flag was flying on the slanted flag pole.  Good to see the ole gal coming back to life.

[MDC26]

Couple articles from Memphis Magazine about the Sterick & redevelopment.

https://memphismagazine.com/features/longform/long-live-“the-queen-of-memphis”/

https://memphismagazine.com/features/longform/the-story-of-the-sterick-building/

https://memphismagazine.com/features/longform/so-what’s-it-like-inside-the-sterick-building-today/

Interesting notes:  - The original color of the building was natural stone color, then it was painted white in 1957, then yellow in 1979.  Was discussed going back to the original natural stone color. 

                                          - In 1945, after the building was sold for the 2nd time, it was streamlined and the 9 foot gothic spires were removed at the top of the building for safety reasons (can be seen in pic below, and I hope they bring these back)   

                                          - Had two underground levels with parking for 50 cars. (I never knew this and wonder where the entrance was.)

                                         - The elevators moved at 900ft per minute and were the fastest in the country

                                         - Tough to keep up, but looks like there's been around 13 different owners of the building.  Equitable Life kept trying to get rid of it, but the Sterick kept falling back into their laps

Edited July 11, 2023 by MDC26

[VSRJ]

Wow! Those are some interesting facts. I had never noticed the spires in older photos.

[MDC26]

58 minutes ago, VSRJ said:

Wow! Those are some interesting facts. I had never noticed the spires in older photos.

I hadn’t either. It also looks like there’s an additional trim at the top of the roof. I think the spires and roof trim make it look even better, and hope the are both reinstalled. 

[Tony Randolph]

I was told the spires and trim had to be removed because of multiple lighting strikes.

[Nothingspectacular]

Interesting article and pics of this old building.  It will take extremely deep pockets and a very long time to restore.   

[MDC26]

14 hours ago, Tony Randolph said:

I was told the spires and trim had to be removed because of multiple lighting strikes.

Yeah the article said pieces were chipping off, and they were worried the whole thing would break off and fall.  If they did re-do them, I'd figure it would be some other martial other than concrete.  

[Tony Randolph]

On 7/13/2023 at 8:33 AM, MDC26 said:

Yeah the article said pieces were chipping off, and they were worried the whole thing would break off and fall.  If they did re-do them, I'd figure it would be some other martial other than concrete.  

Maybe they could use sprayed on concreate over foam like is used for A/C condenser support.  If not that, maybe plastic or wood.

On 7/13/2023 at 7:43 AM, Nothingspectacular said:

Interesting article and pics of this old building.  It will take extremely deep pockets and a very long time to restore.   

Of course it is none of my business, but I wonder if AXA gave a cash settlement to get out of the headache of holding onto the Sterick Building?  This, the tax credits and multiple investors could fund the rehab.  Also, Crosstown Concourse appeared to get down quickly after the pieces came together.

[Memphisborn]

10 hours ago, Tony Randolph said:

Maybe they could use sprayed on concreate over foam like is used for A/C condenser support.  If not that, maybe plastic or wood.

Of course it is none of my business, but I wonder if AXA gave a cash settlement to get out of the headache of holding onto the Sterick Building?  This, the tax credits and multiple investors could fund the rehab.  Also, Crosstown Concourse appeared to get down quickly after the pieces came together.

It’s my hope that Sterick will come online by last quarter 2026. My understanding is the new owners are working feverishly right now for a 2026 opening. We will see several recent proposals have been delayed based on rising cost of materials, inflating bank bonds and loans etc. Good thing is those historic tax credits are there and DMC has several financial incentives the building qualifies for. Fingers Crossed on this one to open 2026

[MDC26]

12 hours ago, Memphisborn said:

It’s my hope that Sterick will come online by last quarter 2026. My understanding is the new owners are working feverishly right now for a 2026 opening. We will see several recent proposals have been delayed based on rising cost of materials, inflating bank bonds and loans etc. Good thing is those historic tax credits are there and DMC has several financial incentives the building qualifies for. Fingers Crossed on this one to open 2026

Yes, the sooner the better, but if the Sterick & 100 N Main are both fully open before 2030, it’s a win. 

[Tony Randolph]

Harris and Company appear to be squared away.  They brought the Hickman Building to fruition fairly quickly.  Which I was glad to see since this city has a history of contracting with those that can talk the talk, but never been able to walk the walk.

Another positive I see is how well Concourse was done.  Hopefully, some of those folks are available and can help with the Sterick.

[Tony Randolph]

On 7/11/2023 at 2:39 PM, MDC26 said:

Couple articles from Memphis Magazine about the Sterick & redevelopment.

https://memphismagazine.com/features/longform/long-live-“the-queen-of-memphis”/

https://memphismagazine.com/features/longform/the-story-of-the-sterick-building/

https://memphismagazine.com/features/longform/so-what’s-it-like-inside-the-sterick-building-today/

Interesting notes:  - The original color of the building was natural stone color, then it was painted white in 1957, then yellow in 1979.  Was discussed going back to the original natural stone color. 

                                          - In 1945, after the building was sold for the 2nd time, it was streamlined and the 9 foot gothic spires were removed at the top of the building for safety reasons (can be seen in pic below, and I hope they bring these back)   

                                          - Had two underground levels with parking for 50 cars. (I never knew this and wonder where the entrance was.)

                                         - The elevators moved at 900ft per minute and were the fastest in the country

                                         - Tough to keep up, but looks like there's been around 13 different owners of the building.  Equitable Life kept trying to get rid of it, but the Sterick kept falling back into their laps

I am pretty sure the underground parking ramp was on the north side of the building.