100 N. Main Redevelopment – hotel, 180-210 apartments, 38,000 SF of retail, restaurant space and rooftop amenities, 2 parking garages

[VSRJ]

I think the likelihood of this happening given the city's agreement with Loews is slim, but it's worth following.

Townhouse takes another shot at TDZ funds for 100 N. Main 

Quote

 

The owners of 100 North Main and a firm that specializes in convention center hotels, Preston Hollow Capital, presented plans to the City of Memphis for a 500-room Marriott hotel within the blighted tower.

The owners, Townhouse Management Co., previously worked with Loews Hotels to develop a convention center hotel in Memphis, before that partnership dissolved in late 2018. The bid this summer was intended as an alternative for city funding to Loews’ current plans to build a hotel across Civic Center Plaza from City Hall.

City of Memphis COO Doug McGowen told the <em>Memphis Business Journal</em> on Thursday, Sept. 12, though, that the City is sticking with its plan to direct Tourism Development Zone (TDZ) funding to Loews.

“I said, ‘Thank you very much. We are moving forward with a development agreement with Loews,’” McGowen said.  “To switch horses midstream would make us an unreliable partner. … [But], should the [Loews] deal go south somehow or we strike something crazy underground …  we’ll be searching for other operators.”

McGowen expects to sign the agreement with Loews by Sept. 20. 

 

Behind paywall: https://www.bizjournals.com/memphis/news/2019/09/13/townhouse-takes-another-shot-at-tdz-funds-for-100.html

 

Edited January 19, 2022 by VSRJ

[MLBrumby]

Why the hell add the 1980s flair? Are these people serious about reusing this tower? What are they going to do with the space ship on top? Can't they save lots of money changing the exterior and bring the interior up to current standards?

 

Edited September 15, 2019 by MLBrumby

[James Owen]

An interesting redesign compared to the last set of renderings, but I cannot help but wonder if Townhouse is really desperate at this point to get some of that TDZ funding the city wanted to give Loews for their development. I think there are several avenues available to where both Loews and Townhouse's projects can co-exist. Doesn't have to be one or the other, and if Shulte (owners of the Sheration) still has a problem with having nearby competition, they need to stop fighting the city and state in court, and actually invest in making improvements to their own property to where they can better compete with a Loews and/or Marriott.

[VSRJ]

9 hours ago, James Owen said:

Doesn't have to be one or the other, and if Shulte (owners of the Sheration) still has a problem with having nearby competition, they need to stop fighting the city and state in court, and actually invest in making improvements to their own property to where they can better compete with a Loews and/or Marriott.

Right. The building looks like a concrete thumb. A reskinning would do wonders, even if it were just to match the wing that was built in the early (?) 2000s.

[dxfret]

IMO the proposed new facade design for 100 North Main is  hideous.  It destroys the verticality of the tallest building in Memphis by breaking it up into unnecessary frames.  I have to wonder what materials could be used, but the renderings look cheap and eerily similar to the Horizon Condo project on Riverside Drive and of some of the casino hotels in Tunica. 

[bnacincy]

That needs to be reworked-very mediocre.......Memphis deserves better.

[VSRJ]

11 hours ago, bnacincy said:

That needs to be reworked-very mediocre.......Memphis deserves better.

I give it a <1% chance of happening, so I'm not too worried about it. But I agree, it could be much better. I think something simpler yet refined would be more suitable. No need to make it so busy.

[VSRJ]

I've renamed this to make it a general 100 N. Main redevelopment thread since the original plans are off the table.

Here's a bit more info on the City's efforts to do...something with 100 N. Main. I'm not particularly optimistic that we'll see any major changes in the immediate future, but I'm glad that the City and the DMC are at least trying.

https://dailymemphian.com/section/business/article/19943/city-of-memphis-could-buy-100-north-main-building

 

[MLBrumby]

There are bound to be local and state tax incentives for relocating companies that may enable a developer (in an opportunity zone) to make a complete renovation cost effective. Has any of that been touched on in the local news? 

[VSRJ]

The story is behind a paywall, but it appears the sale of 100 N. Main from Townhouse Management Co. to DMC has been approved: https://www.bizjournals.com/memphis/news/2021/03/03/new-york-firm-plans-to-buy-court-square-center.html

[VSRJ]

‘Bold’ purchase of city’s tallest building approved

https://dailymemphian.com/section/business/article/20536/downtown-board-approves-purchase-100-north-main

Quote

 

As substantial as the tax incentive and Snuff District development are, the Downtown’s board’s bolder action was to approve the funding for its affiliated Downtown Mobility Authority (DMA) to buy not only the blighted 100 N. Main Building, but the entire Downtown block where the city’s tallest building stands.

The DMA’s $12 million investment includes $10.75 million to buy the property, and another $1.25 million for maintenance and security until a private developer takes it.

The Downtown Memphis Commission, the umbrella organization of the CCRFC, is taking a calculated risk that by briefly owning and marketing the 37-story tower, it can breathe life into the property a lot faster than would the current owner, New York-based Townhouse Management.

 

 

[VSRJ]

I don't have a subscription to the Daily Memphian, but it appears that the DMC will soon solicit proposals for the redevelopment of 100 North Main as well as the block surrounding it.

I'm not how this will change the trajectory — if (legitimate) developers weren't interested before, what will change now?

There are some great photos of the interior of the building here: https://dailymemphian.com/section/neighborhoods/article/22257/100-north-main-building-downtown-memphis

Edited June 1, 2021 by VSRJ

[VSRJ]

New video advertising the DMC's RFP for a developer to bring 100 N. Main back to life:

 

[KJHburg]

any updates on this?  still waiting on the proposals to come in.  I am visiting Memphis for the first time ever in September (hopefully I-40 bridge will be reopen by then)  and I am going to check out the sites in downtown Memphis.  any suggestions would be appreciated and a place to eat or two would be helpful.  I have been to all of Tennessee's major cities but this one and cities to the north south east and west of Memphis but never here.  Oh I will be taking lots of photos for sure of everything. 

[VSRJ]

Nothing that I've heard. The pessimist in me has given up hope that we'll see in activity inside/outside the tower anytime soon. But I hope I'm wrong.

[James Owen]

11 hours ago, KJHburg said:

any updates on this?  still waiting on the proposals to come in.  I am visiting Memphis for the first time ever in September (hopefully I-40 bridge will be reopen by then)  and I am going to check out the sites in downtown Memphis.  any suggestions would be appreciated and a place to eat or two would be helpful.  I have been to all of Tennessee's major cities but this one and cities to the north south east and west of Memphis but never here.  Oh I will be taking lots of photos for sure of everything. 

It'll be a while before we see anything coming out of the RFP process, as is usually the case with everything.

Hopefully the next owners will be more flexible with the city than Townhouse was willing to be.

[MDC26]

On 7/27/2021 at 9:28 PM, KJHburg said:

any updates on this?  still waiting on the proposals to come in.  I am visiting Memphis for the first time ever in September (hopefully I-40 bridge will be reopen by then)  and I am going to check out the sites in downtown Memphis.  any suggestions would be appreciated and a place to eat or two would be helpful.  I have been to all of Tennessee's major cities but this one and cities to the north south east and west of Memphis but never here.  Oh I will be taking lots of photos for sure of everything. 

The I-40 bridge has now reopened, so no worries there.  Downtown, you can see all the sites - Beale St, Sun Studios, Civil Rights Museum, Bass Pro.  There's several breweries and a distillery downtown that you can check out too.  Depending on which week in September, you may be able to catch a Redbirds game.  There's several other museums downtown too.  Restaurants - there's a ton, and most you can't go wrong.  There's the Rendezvous, Central BBQ, and Gus' Fried Chicken which are the most well known.  If you're wanting a fancier restaurant, there's Felicia Suzanne's and Bishop.  Honestly, just google downtown Memphis restaurants, and there's numerous top lists with descriptions, and just see what catches your eye.  If you want to check out some unique late-night spots, go to Earnestine & Hazel's or Paula and Raiford's Disco.  

[VSRJ]

This is the most optimistic I've felt about this project yet. If anyone can revive and redevelop this tower/real estate, it's Orgel.

Orgel, partners make bid to redevelop 100 N. Main

https://dailymemphian.com/section/business/article/23889/billy-orgel-100-north-main-downtown-memphis-commission

Quote

 

Recent proposals for Memphis’ tallest building include a bid from a development team with Billy Orgel, who has a strong track record for adapting historic buildings. 

100 North Main Development Partners, which includes developer and Shelby County Schools board members Orgel and Kevin Woods, submitted a bid for 100 N. Main to the Downtown Memphis Commission, which owns the tower. 

 

 

[James Owen]

11 bids have been submitted for the redevelopment of 100 North Main along with the adjacent parcels on that block.

Per Corinne S Kennedy at The Commercial Appeal: https://www.commercialappeal.com/story/money/business/development/2021/09/02/100-north-main-downtown-memphis-proposals/5693939001/

Quote

• 100 North Main Development Partners. Primary: Kevin Woods    
• 100 North Main Partnership. Primary: Mark Carlson    
• 18 Main. Primary: Tom Intrator    
• Alexander Company. Primary: Joseph Alexander    
• Block Real Estate Services & Sunflower Development Group. Primary: Aaron Mesmer    
• Carlisle Development Company, LLC. Primary: Chance Carlisle    
• Douglas Development Corporation. Primary: Douglas Jemel    
• Flaherty & Collins. Primary: David Flaherty    
• Memphis Tower Group, LLC. Primary: William McCrary    
• Russell Glen & Mathews Southwest. Primary: Terrence G. Maiden    
• Summit Management Corporation. Primary: Gregory Averbuch    

 

[MDC26]

2 hours ago, VSRJ said:

This is the most optimistic I've felt about this project yet. If anyone can revive and redevelop this tower/real estate, it's Orgel.

Orgel, partners make bid to redevelop 100 N. Main

https://dailymemphian.com/section/business/article/23889/billy-orgel-100-north-main-downtown-memphis-commission

 

And don't forget, its the whole block, not just the building.  It also includes the empty lot/parking lot, 4 historic row-style buildings, dog park, and some more parking spot next to the row buildings.  I do hope they keep the 4 buildings and renovate them and build something where the parking lot is.  

[TheKernel91]

Carlisle Corp. plans for 100 N. Main if proposal is chosen. 

[bnacincy]

Love the Carlisle proposal!

When will the final decision be made on the developer?

Love to see this happen.....would be a game changer for Memphis.

This needs to happen and I also think returning Main Street to vehicle traffic would bring some much needed energy to Downtown.

Edited September 3, 2021 by bnacincy
Content

[VSRJ]

Wow. Carlisle's is fantastic. After what they've done with One Beale, I'm at least hopeful that they'd be able to accomplish some form of this.

[James Owen]

9 hours ago, bnacincy said:

Love the Carlisle proposal!

When will the final decision be made on the developer?

Love to see this happen.....would be a game changer for Memphis.

This needs to happen and I also think returning Main Street to vehicle traffic would bring some much needed energy to Downtown.

Right now, they're looking at selecting a developer among the 11 bidders by year's end. However, actual work wouldn't start until late next year at the earliest after all due process is completed.

https://www.actionnews5.com/2021/09/02/downtown-memphis-commission-receives-11-proposals-100-n-main-project/

So far, we only know about the Woods/Orgel and Carlisle proposals. I'm curious to see what the other nine have in mind.

[MDC26]

11 hours ago, VSRJ said:

Wow. Carlisle's is fantastic. After what they've done with One Beale, I'm at least hopeful that they'd be able to accomplish some form of this.

Yes, it does look very good and would be very happy if it comes to be.  However, I still prefer to preserve the historic row buildings on Main.   Carlisle doesn't seem to be highly concerned with historic preservation, as they tore down the Nylon Net building, and until recently, thought 100 N Main should be torn down.  Orgel seems to be more of a historic preservationist.