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East Memphis and University District News & Developments

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Possible mixed use in the works for East Memphis:

Racquet Club in East Memphis closing

https://dailymemphian.com/article/1400/Racquet-Club-in-East-Memphis-closing

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Mark Fogelman, president of Memphis-based Fogelman Properties’ multifamily real estate company, said, “If this parcel becomes available, in my opinion it would be one of the best development sites the city has seen in years. You could envision a combination for both high-end, high-density rental and for-sale multifamily, as well as high-end retail space.”

Elliot Embry, vice president with NAI Saig, said, it’s probably one of the largest tracts of developable land in East Memphis.

“I think it’s ideally suited for a mixed-use development with higher-end apartments or condominiums,” Embry said. “If you look at the East Memphis market, there’s kind of a lack of that type of higher-end residential.”

 

 

Edited by VSRJ
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Maybe the 100th time's a charm?

Memphis to take bids for Fairgrounds hotel-retail site and Mid-South Coliseum

https://dailymemphian.com/section/business/article/1399/Memphis-to-take-bids-for-Fairgrounds-hotel-retail-site-and-Mid-South-Coliseum

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Buoyed by a state-approved tourism development zone, the city of Memphis will take bids for a hotel-retail developer on the Fairgrounds site as part of a $161 million public-private project and go after a private operator as well to repurpose the Mid-South Coliseum.

Mayor Jim Strickland said Monday the city will start the process to take requests for proposals for the private part of the development, 13 acres on Central Avenue, in addition to courting corporate sponsors for the naming rights on a youth sports complex to be a major part of the Fairgrounds site. A developer would be selected in early 2019, according to city information.

Private investment in the project is expected to be $61 million, and the city will put in $90 million, city officials said.

Not only does Memphis want to go to work on a facility that will reshape 22 acres on the Fairgrounds property, it hopes to revive older buildings, too. Ultimately, city officials said, improvements could be the catalyst for bringing the Mid-South Coliseum back to life after more than a decade of dormancy.

 

 

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The city has made a great effort upgrading the Liberty Bowl as much as they can. I know one of the more recent proposals includes demolishing and rebuilding one of the pressboxes.  I really hope that the city hits it out of the park with whatever is done to the fairgrounds. If done right that area can bustle with year round activities highlighted be Tigers games in the fall.

Also, with the closure of the East Memphis Racquet Club, the city/university might want to look at putting tennis courts in the fairgrounds or on the Park Ave Campus.

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Developers plan new homes near U of M

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The satellite imagery has not been updated to reflect the completion of Highland Row (but you can see one of the development's restaurants, Char, labeled).

https://www.bizjournals.com/memphis/news/2019/01/17/developers-plan-new-homes-near-u-of-m.html?iana=hpmvp_memp_news_headline

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A pair of developers who have been focused on East Memphis for the past five years are turning their attention to the University District.

Richard Wood and Brandon Ayers recently bought 2.3 acres on Ellsworth Street between Midland and Central avenues and are planning to construct 22 homes there.

"We got tired of building the $800,000 and $900,000 houses [in East Memphis]," Wood said. "The $380,000 to $400,000 range was the cost we wanted to get into building. ... Finding dirt [in Memphis] where we can build a $400,000 house [was tough]."

The property had been owned by Milhaus Development LLC — the developers behind the adjacent Highland Row development — and then Cameron Taylor and Lee Patton of Patton & Taylor Enterprises LLC.

Ayers came across the property while living in Highland Row, and Wood said his relationship with Taylor helped him secure it.

They closed on the $1.5 million purchase in December.

"I think it will be a really nice addition [to the neighborhood]," Wood said. "In that area, you’re so close to everything that our target audience will be pretty broad."

The houses will contain three or four bedrooms, three-and-a-half bathrooms, and two-car garages in spaces between 2,300 square feet and 2,600 square feet.

Wood said he hopes to break ground on the first two homes in the next few weeks but will wait on the other 20 until he has a better grasp on home demand by type.

He said he's confident in the project, though, because of the success other infill neighborhoods in recent years have had, including the development at East Parkway's intersection with Sam Cooper Boulevard.

He expects all 22 homes to be built within the next 2.5 years.

 

 

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FINALLY!

U of M files $25M permit for new recreation center

https://dailymemphian.com/article/3323/U-of-M-files-25M-permit-for-new-recreation-center

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A $25 million building permit has been filed for construction of a new recreation center at the University of Memphis.

The new 80,000-square-foot recreation center will be located on Southern Avenue, adjacent to the existing Larry O. Finch recreation center, which will remain, and the new pedestrian land bridge that is expected to be completed in August. 

The new facility will feature a demonstration kitchen for nutrition classes, classrooms for exercise and sport science students, a gymnasium and fitness space and an outdoor pool, said Amanda Whitaker, senior project manager at ANF Architects.

In a recent podcast with The Daily Memphian's Tigers beat reporter, Jonah Jordan, U of M president David Rudd talked about the latest developments for the university's new indoor practice facility, as well as the new recreation center. 

 

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Edited by VSRJ
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Multifamily project planned at McDonald's site near U of M

https://dailymemphian.com/section/business/article/4066/Multifamily-project-planned-at-McDonalds-site-near-U-of-M

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The former McDonald’s restaurant location at South Highland and two adjacent parcels on Spottswood Avenue could become a new multifamily development near the University of Memphis.

An application before the Board of Adjustment in April seeks several variance exceptions to allow construction of 15 four-bedroom units and five three-bedroom units that will have 75 parking spaces on site for residents.

 

 

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