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HKG

Apartments for Former UP Bank building

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The daily news reports that the former UP building at 67 Madison Ave. will be converted to mix-use, including 157 luxury apartments (not condos). Finally! This was the building that The Firm was filmed at, and it is on the SE corner of Front and Madison.

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Thats good news! :thumbsup: I love all these buildings going condo downtown because it brings more people to downtown. I think the population will sky rocket in the next couple of years.

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I was hoping for a hotel, but this is the next best thing. On second thought, it's residents so maybe even better. I suspect they'll convert to condos in a few years after the tax breaks expire.

Pic:

original.jpg

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^pic seems to come and go--that's pbase nowadays.

Anyway, with this project and all the other completed, under construction, and proposed developments, it would be interesting to see how Memphis stacked up with other cities in terms of downtown housing units. Last I heard, the downtown "core"--which was the main CBD, Mud Island, and SouthMain--had over 12,000 residents. The CCC defines downtown to include the Medical District and Uptown, which I don't think any Memphian really considers "Downtown".

So out of those true 12,000 downtown residents, I would guess there are around 4,000 housing units. That sounds like a lot, is that possible?

I know there are something on the order of 3000 condo units in conversion, u/c or planned. I guess that would add another 2500 new units and another 5000 or so people to the downtown core.

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The more people, the merrier. From glancing at the topic, I thought the 100 N. Main was going to be converted! That would've been nice.

Why can't Independent Bank put their logo atop 100 N. Main? It looks too tacky with nothing on it. :sick:

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Dang you, Sleepy! You beat me to the photo of 67 Madison :thumbsup: Excellent photo, I might add, and agree that it would have made a great hotel property, although the one down the street (The Madison) is pretty nice. I can see the condo conversion down the road as the tax advantages come to light. Hope the conversion is as nice as the Shrine Building.

I think 4000 units is a reasonable estimate, with that number going higher all the time it seems. Hard to tell which source considers the downtown core; you'd think it would be easy based on the CCC website. Either way, with thousands of housing units existing and thousands more on the way, downtown growth looks unchecked.

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Why can't Independent Bank put their logo atop 100 N. Main? It looks too tacky with nothing on it. :sick:

No doubt! It makes the building look abandoned during the daytime. Surely the management company is trying to find an advertiser. I would have thought Regions would have wanted to replace the UP sign with their logo.

Maybe they have new signs on the way - they just take time to be manufactured?

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I saw a backhoe working by the "Vue on Main" site. Just kidding. I walked by the site yesterday and wonder what other projects were proposed for the site. It is such a waste that everything around there is now being updated, but a massive hole still exists where a phantom building was suppossed to be built. Anyway, the 150 apartments of this new UP Bank project might be the straw that broke the camel's back on the Vue on Main, if the Vue on Main hasn't already been broken.

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I wouldn't be so pessimistic about the Vue. I know when it was first announced, it was going to have some "below-market" units in order to get some HUD money, so it had to go through a lengthy HUD study. Then the price of steel doubled, they redesigned the thing, and had to go back to HUD with the new design. Don't know if HUD is dragging its feet or not (hello, Senator Frist?). I've not read anything further about it, and would think that if it were officially abandoned, it would make news.

I also think that with the condo conversions downtown, apartments would be more at a premium. I think the UP project is way more upscale than the Vue anyway and there may not be direct competition between the two.

I was in Memphis last June, and noticed some men walking out of the Lincoln-American Tower. I asked them when that project would get going, and they said by fall (2005). Well, that project didn't wrap up its complicated financing until a month or so ago.

So maybe that's the same problem with the Vue

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I would have thought Regions would have wanted to replace the UP sign with their logo.

I don't believe Regions would do that since they already have a mini logo on the Morgan Keegan Tower. I hate to be picky, but wouldn't the Regions Bank logo (the old UP logo with the three leaves within a triangle) look better and more noticeable on 100 N. Main than on the fac'ade of the MK? :P

And why can't the owner of Sterick return the building to its original colors, even if there are no tenants occupying the space?

I just want the skyline to look its best - to look progressive; not run down and empty. We have an NBA team, we're not a "backwater" town.

/rant over

Just lookin' out for my city. :wub:

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I don't believe Regions would do that since they already have a mini logo on the Morgan Keegan Tower. I hate to be picky, but wouldn't the Regions Bank logo (the old UP logo with the three leaves within a triangle) look better and more noticeable on 100 N. Main than on the fac'ade of the MK? :P

And why can't the owner of Sterick return the building to its original colors, even if there are no tenants occupying the space?

I just want the skyline to look its best - to look progressive; not run down and empty. We have an NBA team, we're not a "backwater" town.

/rant over

Just lookin' out for my city. :wub:

Seeing as how the STerick owner hasn't seemed to have done a whole lot else to maintain the property, I don't imagine they would feel any impetus to invest money to change the paint scheme. Although I do remember at one time scaffolding set up on the ground around the building.

Isn't the owner of the STerick also the owner of the Hickman to the east of it?

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