Memphis' SouthEnd project

[sleepy]

This is Memphis' downtown SouthEnd project. According to the article, there are 12 separate projects housing 4000 people on 30 acres. Some of the pics/renderings have been posted previously in various spots as separate projects, but this is the first time the development is being seen as a unified whole--SouthEnd--with new streetwork connecting things, etc.

South End is an area of downtown Memphis in the South Main area on some vacant brownfield lots alongside Central Station, and south. I was down there last week, and a couple of the projects look ready for occupancy by the end of summer and the others are in site preparation. But anyway, the project includes the following developments (pics from downtownmemphis.com):

1. City Commons at South End

2. City Commons Too @ South End

3. Rooftops @ South End

4. 629 Front Street (proposed)

5. Carolina Lofts @ South End

6. State Place @ South End

7. Riverside Towers

8. 648 Riverside

9. Hoover Building

10. City House

11. The 444

12. Art House Apts.

From 6/12/05 Memphis Commercial Appeal:

http://commercialappeal.com/mca/local_news...3845788,00.html

"South End project to grow

Developers expect investment to hit $500 million ultimately

"By Carla Underwood

Contact

June 12, 2005

In March 2002 Southland Development Partners of Memphis acquired the old D. Canale cold storage facility in a blighted industrialized section along Downtown's southern edge -- the first purchase in what developers and city officials expect to be a 30-acre mixed-use community offering residents and business owners a virtual city within its own borders.

The project surrounds the South Bluffs area and will be bordered by G.E. Patterson to the north, the railroad tracks south of Georgia to the south, Front Street to the east and the river to the west.

Developers say South End will eventually be home to about 4,000 people housed at a density level of 40 units per acre, compared with Harbor Town's 14 units per acre.

While $285 million of construction is planned or under way on the site, developers expect to increase that investment to about $500 million through additional acquisitions and mixed-use construction within the next five to seven years. Included in those plans are a town center at Channel 3 Drive as well as a long-awaited grocery store and office space."

[knoxster77]

That looks great. Especially, the riverside towers. I can not believe how well Memphis has advanced in the last view years.

[sleepy]

That looks great.  Especially, the riverside towers.  I can not believe how well Memphis has advanced in the last view years.

<{POST_SNAPBACK}>

Yeah, downtown is really chugging along. I guess it started with the new urbanist HarborTown and SouthBluffs in the late '80's, but has really exploded in the past 5 years.

Memphis' downtown population is growing at over 10% a year. It's the fastest growing part of the metro area--even faster than DeSoto County which is the 35th fastest growing in the US. That's probably an anomaly among American cities.

[mandrws1]

This building boom in downtown Memphis is incredible. The Riverside Towers look very nice, but instead of building two 16 story towers, why not just build one 32 story tower. If I were the developer, I would build tall to so that when the value of the land around the towers go up, I would make a killing! I saw the hole on Main and Gayoso and it looks like the Vue is finally going to be built! All 29 stories! I hope that more skyscrapers go up downtown.

[sleepy]

This building boom in downtown Memphis is incredible.  The Riverside Towers look very nice, but instead of building two 16 story towers, why not just build one 32 story tower.  If I were the developer, I would build tall to so that when the value of the land around the towers go up, I would make a killing!  I saw the hole on Main and Gayoso and it looks like the Vue is finally going to be built!  All 29 stories!  I hope that more skyscrapers go up downtown.

<{POST_SNAPBACK}>

I saw that hole too last week.

They had bricks stacked up on the sidewalk, so I guess they'll actually be starting soon.

[ricky_the_great]

It cant be a parking lot still... look at it

[stuckinmfs]

I welcome the coming downtown housing glut. My rent hasn't increased due to the increased competition.

[NickR78]

Most of the new developments are condos. I don't have any hard facts to back this up, but are probably less rental units in downtown now than there were 3 years ago. I read yesterday on downtownmemphis.com that the Rivermark apartments are going condo. In the past year, three large downtown (previously rental) buildings have gone condo: The Shrine, Claridge House, and Rivermark. I know the Rivermark had 200 rental units, and I would estimate there were at least 200 units lost between the Claridge and Shrine buildings combined. The new Vue tower will replenish 280 rental units, and I know there are rental projects planned for South End, but I doubt there will be a housing glut. If anything, condo prices, rather than rental rates, will become more competitive. I lived in Harbor Town for three years while in college, and every year my rental rates increased. The apartment I rented for 770 now rents for 1000--and that was just three years ago.

I'm looking forward to see the plans for the tower at No. 1 Beale. The commercial appeal quoted the developer, Gene Carlisle, as saying " It will be the biggest project ever done in Memphis...costing north of 300 million" South End is a 285 million dollar project...and look at the size of it--it's huge. Can you imagine how another 300 million dollar project would transform downtown? I become really excited when I think about where downtown is going to be in 5-10 years. Lookout Nashville!

[cdarr]

I saw that hole too last week.

They had bricks stacked up on the sidewalk, so I guess they'll actually be starting soon.

<{POST_SNAPBACK}>

I was just there last night. I think the bricks are for the development that's under construction across the street. There was also a stack of bathtubs

The site for The Vue is still being used as a parking lot. I sure would like for them to get started soon. It will be a welcome addition to the skyline.

[stuckinmfs]

I lived in Harbor Town for three years while in college, and every year my rental rates increased.  The apartment I rented for 770 now rents for 1000--and that was just three years ago.

mine used to increase every year too. That has stopped.

[cdarr]

It cant be a parking lot still... look at it

<{POST_SNAPBACK}>

I kept wondering how cars were getting down there too, but then I took a closer look Friday night. The site sits below grade level at Main Street (as your picture shows) but can be accessed from Second via one or two alleys.

Anyway, I hope they aren't having leasing or financing troubles. I really want to see The Vue, 1 Beale and Riverside Towers all built.

[mandrws1]

I actually spoke to a representative of the Nashoba Group last week and he said that it definitely is going to be built. Construction will begin in September and it will be finished in the fall of 2006. He said the floorplans will be ready in about 60 days on the website (www.thevueonmain.com).