Downtown Memphis News & Developments (CBD, South Main, Riverfront, Medical District, The Edge, Uptown)

[James Owen]

2 hours ago, TheKernel91 said:

Anyone have a Commercial Appeal subscription? I want to know what is this "Project Afterburner" and how it's suppose to shape the city's future.

https://www.commercialappeal.com/restricted/?return=https%3A%2F%2Fwww.commercialappeal.com%2Fstory%2Fnews%2F2021%2F02%2F17%2Fhow-project-afterburner-became-plan-shape-memphis-future%2F4234070001%2F

That is what ultimately became "Accelerate Memphis", which is a $200 million pitch to reinvest in the city and its assets: https://www.memphistn.gov/wp-content/uploads/2021/02/NEWJan-21-2021-Accelerate-Memphis-Whitepaper-FINAL.pdf

[VSRJ]

More development planned for the Snuff District (hate the name but I'm digging the development):

Snuff District: $62 million apartment complex, retail space, parking garage in next phase

https://www.commercialappeal.com/story/money/business/development/2021/03/02/snuff-district-developers-seeking-tax-incentives-apartment-project/6895294002/

Quote

 

A Memphis development group is planning a six-story mixed-use building in the Snuff District which will have 292 apartments, almost 11,000 square feet of ground-floor commercial space and a two-story, 420-stall public parking garage. 

The Conwood II apartment project at 47 Keel Ave. is part of a larger planned revitalization of the 65-acre district.

Development Group Wolf River Harbor Holdings, LLC, which includes William Orgel, Tom Marsh, Jay Lindy and Adam Slovis, is requesting a 20-year Payment-In-Lieu-of-Taxes Incentive from the Downtown Memphis Commission's Center City Revenue Finance Corporation.

The second-phase building will cost about $62 million. The entire Snuff District overhaul was projected to cost about $200 million. 

 

 

[VSRJ]

I'm assuming they will vacate Peabody Place, which will be a huge blow for Downtown. I'm beginning to think that complex is cursed... I have no idea how they will be able to find a replacement tenant or tenants given the disruption covid has caused to office space. I guess we'll need to get creative again.

ServiceMaster Brands relocating to Atlanta, move to result in local job cuts

https://www.bizjournals.com/memphis/news/2021/03/04/servicemaster-brands-relocation.html

[bnacincy]

Ugh! This reminds me of the early 90's when I was there and Holiday Inn was bought out by a British company named Bass and they relocated to you guessed it.....Atlanta.

Memphis has got to start getting companies in!

Edited March 5, 2021 by bnacincy
Content

[MDC26]

18 hours ago, VSRJ said:

I'm assuming they will vacate Peabody Place, which will be a huge blow for Downtown. I'm beginning to think that complex is cursed... I have no idea how they will be able to find a replacement tenant or tenants given the disruption covid has caused to office space. I guess we'll need to get creative again.

ServiceMaster Brands relocating to Atlanta, move to result in local job cuts

https://www.bizjournals.com/memphis/news/2021/03/04/servicemaster-brands-relocation.html

No, you've got it wrong.  Terminix sold off the Service Master brands recently.  Terminix is $1.8 billion a year company with over 1000 jobs in the Memphis HQ.  The Service Master Brands have around 200 jobs there, and are $240 million a year company.  Just the 200 Service Master Brands jobs are leaving.  The 1000+ Terminix jobs are staying, as well as the Home Shield employees.  (Home Shield was spun off earlier.)  Still sucks to lose the 200 jobs, but not near the blow you thought it was.  I would expect a change in the signage to Terminix sometime soon.  

Edited March 5, 2021 by MDC26

[TheKernel91]

5 hours ago, MDC26 said:

No, you've got it wrong.  Terminix sold off the Service Master brands recently.  Terminix is $1.8 billion a year company with over 1000 jobs in the Memphis HQ.  The Service Master Brands have around 200 jobs there, and are $240 million a year company.  Just the 200 Service Master Brands jobs are leaving.  The 1000+ Terminix jobs are staying, as well as the Home Shield employees.  (Home Shield was spun off earlier.)  Still sucks to lose the 200 jobs, but not near the blow you thought it was.  I would expect a change in the signage to Terminix sometime soon.  

Good. That's a better explanation I seen on this, not even from the news who's making it seem more dramatic.

Edited March 5, 2021 by TheKernel91

[VSRJ]

On 3/5/2021 at 3:13 PM, TheKernel91 said:

Good. That's a better explanation I seen on this, not even from the news who's making it seem more dramatic.

Right. Thanks @MDC26 for clarifying. It would have been great if MBJ made that a little more clear.

[VSRJ]

Some good news for Peabody Place: https://dailymemphian.com/section/neighborhoodsdowntown/article/20767/peabody-place-gets-a-new-tenant-epicenter

Peabody Place gets a new tenant

Quote

 

A nonprofit organization that provides support to entrepreneurs will be moving into one of Downtown Memphis’ highest profile office addresses.

Epicenter announced Thursday, March 18, that it will move its primary office location to the former Ground Floor space at 150 Peabody Place.

Terminix Global Holdings Inc., a provider of home and commercial pest control services, will sublease the 20,000-square-foot space to Epicenter. Epicenter’s current offices are located at 902 S. Cooper St., where it has operated since 2017.

 

 

[MDC26]

The project has an official name and design now:  Orleans Station

https://dailymemphian.com/section/business/article/20841/orleans-station-will-bring-hundreds-of-residents

 

[VSRJ]

Nice! I really like the design, seems as though it will blend with the Edge District nicely. This will no doubt inject even more life into the area. I can't wait to see what the Edge will look like in 5-10 years.

[VSRJ]

I ate at the current SOB a couple of weeks ago. The burger was so good. Glad to see them doing well. I'd be in danger if I lived above the restaurant. But it sounds like they may be short-term rentals.

After pandemic delays, South Main restaurant to make April debut

https://www.bizjournals.com/memphis/news/2021/03/29/south-of-beale-set-to-open-mid-april.html

Quote

 

The newest South of Beale (SOB) in the old Ambassador Hotel at 345 South Main St. is set to open in mid-April, according to Ed Cabigao, who owns the restaurant with his wife, Brittany. 

The Cabigaos bought the Ambassador hotel in July 2019. The pandemic pushed the opening back several times.

The new SOB features a private dining room, and Cabigao said that he's already booked several parties.

The 10 upstairs apartments have also been spoken for — leased by a company that runs Airbnbs.

 

 

[VSRJ]

Nice infill project proposed for South Main:

NY developer proposes 5-story building on S. Main

https://dailymemphian.com/section/neighborhoodsdowntown/article/21047/five-story-building-with-retail-30-apartments

Quote

 

Plans for a new, 5-story building in the heart of the South Main District were made public Wednesday, March 31, by the Design Review Board.

Developer Tom Intrator of New York submitted plans to fill a vacant lot at 386 S. Main with a building that will house ground-floor commercial space and 30 apartments on the upper four floors.

Six lofted apartments with taller windows will be on the second floor, and floors 3-5 will have eight units each.

 

 

[MDC26]

1 hour ago, VSRJ said:

Nice infill project proposed for South Main:

NY developer proposes 5-story building on S. Main

https://dailymemphian.com/section/neighborhoodsdowntown/article/21047/five-story-building-with-retail-30-apartments

 

Looks nice.  Besides the Pinch project, Intrator has quite a few projects planned on Main and Front St.  I believe 18 S Main is the only one that started construction so far.   Hopefully the others will get rolling soon. 

[VSRJ]

I'm surprised the board rejected the 7 Vance plans. Obviously, I would have preferred the existing structure to be kept, but I thought the new building was relatively fitting.

Board approves designs for The Walk and Clayborn Temple, rejects 7 Vance

https://dailymemphian.com/section/neighborhoodsdowntown/article/21162/design-board-approves-design-for-the-walk

Quote

The Design Review Board approved and heaped praises on the design for the massive Walk on Union mixed-use development. But the board rejected the design for the $43 million 7 Vance Building, saying it might fit in Cordova or the suburbs but not in Downtown’s historic warehouse district.

 

[James Owen]

1 hour ago, VSRJ said:

I'm surprised the board rejected the 7 Vance plans. Obviously, I would have preferred the existing structure to be kept, but I thought the new building was relatively fitting.

Board approves designs for The Walk and Clayborn Temple, rejects 7 Vance

https://dailymemphian.com/section/neighborhoodsdowntown/article/21162/design-board-approves-design-for-the-walk

The Design Review Board approved two projects and tabled two. Both the Carlisle and Intrator plans will come back up again after some fine tuning is done to address all the concerns that were raised.

[VSRJ]

I'm a little surprised by the location. It isn't very accessible by foot, but it's a step in the right direction (no pun intended) for Downtown residents longing for a grocery store.

High Point Grocery owner announces Downtown grocery store

https://www.bizjournals.com/memphis/news/2021/04/13/high-point-grocery-owner-announces-downtown-store.html

Quote

 

Rick James, the operator of four Cash Saver stores and owner of High Point Grocery, just announced plans to open a Downtown grocery store by the end of 2021.

The store, South Point Grocery, is poised to be located at 136 Webster Ave., according to a news release.

“I have had an eye toward downtown for 20 plus years, waiting for the population and location to make the venture favorable,” James said in the release. “This site is perfect for our needs and will serve a growing population in the south end of Downtown.”

James is partnering with Archer Custom Builders owner Tom Archer, who told the MBJ in 2018 he planned to turn the Webster building into a grocery store.

 

 

[MDC26]

1 hour ago, VSRJ said:

I'm a little surprised by the location. It isn't very accessible by foot, but it's a step in the right direction (no pun intended) for Downtown residents longing for a grocery store.

High Point Grocery owner announces Downtown grocery store

https://www.bizjournals.com/memphis/news/2021/04/13/high-point-grocery-owner-announces-downtown-store.html

 

Yeah, I remember reading about this awhile ago, so I think it's a couple years in the making.  Kinda off by itself with no residential around, but I think I remember him saying it was the only location he could make it financially feasible.  

 

[MDC26]

The downtown Mason Lodge sold for $2.2 million to Bill Townsend, the owner of the Luciann Theater.  He wants to turn it into an event space and film studio.  

https://www.bizjournals.com/memphis/news/2021/04/13/townsend-buys-masonic-temple-movie-event.html

With this and the Malco Majestic, there's really an effort into bringing in filming industry.  Hope it succeeds.  

[VSRJ]

1 hour ago, MDC26 said:

The downtown Mason Lodge sold for $2.2 million to Bill Townsend, the owner of the Luciann Theater.  He wants to turn it into an event space and film studio.  

https://www.bizjournals.com/memphis/news/2021/04/13/townsend-buys-masonic-temple-movie-event.html

With this and the Malco Majestic, there's really an effort into bringing in filming industry.  Hope it succeeds.  

Agreed. With Memphis' propensity for historic preservation and adaptive reuse, I think the city would be a prime spot for any production needing a historical backdrop.

[MDC26]

1 hour ago, VSRJ said:

Agreed. With Memphis' propensity for historic preservation and adaptive reuse, I think the city would be a prime spot for any production needing a historical backdrop.

That's becoming less and less necessary with CG.  Or they just build it from scratch like the Elvis movie in Australia.  

But for low budget shows and films, it will still be useful.  

[MDC26]

Very sad and scary.  Unfortunately, I think crime has been one of the things that has held Memphis back economically.  It definitely factors in for some people thinking about investing, locating businesses, or moving to Memphis.  

Downtown used to be one of the safest places in Memphis, but it no longer appears that way.  This occurred right in the heart of the entertainment district before 10pm on a Saturday night.  

https://wreg.com/news/man-dead-after-shooting-in-downtown-memphis-2/

[TheExtraEastKid]

Crime happens wherever there's opportunity, Nashville, St. Louis, Birmingham, Raleigh etc are experiencing similar shootings.

Edited April 19, 2021 by TheExtraEastKid

[TheKernel91]

3 hours ago, MDC26 said:

Very sad and scary.  Unfortunately, I think crime has been one of the things that has held Memphis back economically.  It definitely factors in for some people thinking about investing, locating businesses, or moving to Memphis.  

Downtown used to be one of the safest places in Memphis, but it no longer appears that way.  This occurred right in the heart of the entertainment district before 10pm on a Saturday night.  

https://wreg.com/news/man-dead-after-shooting-in-downtown-memphis-2/

Interesting... I just read this article on Dailymemphian.com.  It says  that city leaders say that crime is not a worry as far as job recruitment for companies to expand or relocate here as many think.

https://dailymemphian.com/subscriber/section/business/article/21350/crime-not-a-top-worry-for-business-prospects

Edited April 19, 2021 by TheKernel91

[MDC26]

32 minutes ago, TheKernel91 said:

Interesting... I just read this article on Dailymemphian.com.  It says  that city leaders say that crime is not a worry as far as job recruitment for companies to expand or relocate here as many think.

https://dailymemphian.com/subscriber/section/business/article/21350/crime-not-a-top-worry-for-business-prospects

It may not be the the top factor, or even in the top 5, but it is in there somewhere.  I'm sure it factors in a lot more with people considering moving to Memphis, or others leaving Memphis, and this can affect economic growth by not having as strong as a workforce.  Memphis is ranked 3rd highest in the nation on many lists.  I know this year there has been a rise around the country, not just in Memphis, but the increase in violent crime is disturbing.  Maybe the businesses that go so far as in having discussions with city leaders may not say its a big factor, but there could be large amounts that don't even take Memphis into consideration because of crime, and therefore never speak to city leaders.  I love Memphis and I really hate to see these high levels of crime for the lives it ruins and the neighborhoods and families it devastates.    

[TheKernel91]

 

6 hours ago, MDC26 said:

It may not be the the top factor, or even in the top 5, but it is in there somewhere.  I'm sure it factors in a lot more with people considering moving to Memphis, or others leaving Memphis, and this can affect economic growth by not having as strong as a workforce.  Memphis is ranked 3rd highest in the nation on many lists.  I know this year there has been a rise around the country, not just in Memphis, but the increase in violent crime is disturbing.  Maybe the businesses that go so far as in having discussions with city leaders may not say its a big factor, but there could be large amounts that don't even take Memphis into consideration because of crime, and therefore never speak to city leaders.  I love Memphis and I really hate to see these high levels of crime for the lives it ruins and the neighborhoods and families it devastates.    

I agree, its definitely some businesses that probably wouldn't even consider the move just because. Especially smaller businesses who are looking to establish somewhere long term. Crime does affect the perception of a place, and even worse if you haven't visited or isnt too familiar with it.