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


bluff2085

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16 hours ago, JTM1 said:

This is very nice and will certainly add to the growing density of downtown.  I was hoping for something more of a  Brownstone type townhome in this area.

There is an old metal building that sits across from this location. It appears to be an old gin, I wonder what will become of that building?  

Yes, there is lettering on the side that says OL COTTON GIN. I would guess it will sit there until someone decides to develop the property and will tear it down. Maybe someone will get creative and keep it as an event space or restaurant. 

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  • 2 weeks later...

Upscale club/bar to be located on 2nd St between Kooky Canuck and Automatic Slims

https://www.bizjournals.com/memphis/news/2022/01/13/supper-club-on-2nd-bar-restaurant-joseph-johnson.html

 

Coleman Taylor Transmission leaving the Edge to make way for future apartments - The Rise at the Ravine

https://dailymemphian.com/subscriber/section/neighborhoodsdowntown/article/26430/edge-districts-revival-may-extend-to-union-ave

Edited by MDC26
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  • 2 weeks later...

It's all beginning to make sense now about the river being the front door to the city.  With the increase in boat traffic, they need to add an art structure that is fitting for boats. I don't remember who posted it, but someone on here posted something about a lighthouse that could be used  for observation and souvenir shop.  

I noticed the Cobblestone Landing area is showing a dock that has music venues and restaurants. The area where I thought would be a good location for the proposed aquarium is where they're going to construct the Ferris wheel. I guess over by the Pyramid would be the next best area and Bass Pro can be a corporate sponsor.  

 

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1 hour ago, JTM1 said:

It's all beginning to make sense now about the river being the front door to the city.  With the increase in boat traffic, they need to add an art structure that is fitting for boats. I don't remember who posted it, but someone on here posted something about a lighthouse that could be used  for observation and souvenir shop.  

I noticed the Cobblestone Landing area is showing a dock that has music venues and restaurants. The area where I thought would be a good location for the proposed aquarium is where they're going to construct the Ferris wheel. I guess over by the Pyramid would be the next best area and Bass Pro can be a corporate sponsor.  

 

That was me.  Circular observation towers such as the Space Needle, Tower of the Americas, Stratosphere, CN Tower, Reunion Tower, and Skylon Tower seem to be good tourist draws and add something cool to the skyline. These observation towers are plentiful, so I'd want something more unique.  An obelisk would go well with the Egyptian theme, but you've got the Washington, Beacon Hill, and San Jacinto monuments.  Then you have column towers such as WWI Liberty Tower in KC, and Perry's Victory and Peace Tower.  There's also the two most unique are the Arch and the Statue of Liberty, but you can't copy those.  So that's why I thought of the light house.  It could go along with the Egyptian them too, like the Alexandria lighthouse.  Recently, there was an article in the Daily Memphian https://dailymemphian.com/subscriber/section/opinion/article/26347/revisiting-something-wild-something-beautiful revisiting John Vergos' idea of making Memphis/Mississippi River Bluffs a UNESCO World Heritage site.  The light house could be part of that where at the base there was a museum or information about Memphis/Mississippi River/Bluffs.  You could go to the top of the light house to observe the path of the river, and during floods, see how far the river widens.  The spot where I thought it could be built is on Mud Island where the Memphis Belle was displayed. 

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3 hours ago, JTM1 said:

It's all beginning to make sense now about the river being the front door to the city.  With the increase in boat traffic, they need to add an art structure that is fitting for boats. I don't remember who posted it, but someone on here posted something about a lighthouse that could be used  for observation and souvenir shop.  

I noticed the Cobblestone Landing area is showing a dock that has music venues and restaurants. The area where I thought would be a good location for the proposed aquarium is where they're going to construct the Ferris wheel. I guess over by the Pyramid would be the next best area and Bass Pro can be a corporate sponsor.  

 

Where did you see cobblestone landing with dock, music venue and restaurants?  There is a dock there currently for the local riverboats. I think they are upgrading it with the cobblestone landing project. 

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7 hours ago, MDC26 said:

That was me.  Circular observation towers such as the Space Needle, Tower of the Americas, Stratosphere, CN Tower, Reunion Tower, and Skylon Tower seem to be good tourist draws and add something cool to the skyline. These observation towers are plentiful, so I'd want something more unique.  An obelisk would go well with the Egyptian theme, but you've got the Washington, Beacon Hill, and San Jacinto monuments.  Then you have column towers such as WWI Liberty Tower in KC, and Perry's Victory and Peace Tower.  There's also the two most unique are the Arch and the Statue of Liberty, but you can't copy those.  So that's why I thought of the light house.  It could go along with the Egyptian them too, like the Alexandria lighthouse.  Recently, there was an article in the Daily Memphian https://dailymemphian.com/subscriber/section/opinion/article/26347/revisiting-something-wild-something-beautiful revisiting John Vergos' idea of making Memphis/Mississippi River Bluffs a UNESCO World Heritage site.  The light house could be part of that where at the base there was a museum or information about Memphis/Mississippi River/Bluffs.  You could go to the top of the light house to observe the path of the river, and during floods, see how far the river widens.  The spot where I thought it could be built is on Mud Island where the Memphis Belle was displayed. 

The old Memphis Belle area would be ideal for the lighthouse. The Memphis sign has been a success and your lighthouse idea would be just as successful.

Reading Mr. Conway's article was the first that I heard of the Vergos idea about Memphis becoming World Heritage site.  

5 hours ago, MDC26 said:

Where did you see cobblestone landing with dock, music venue and restaurants?  There is a dock there currently for the local riverboats. I think they are upgrading it with the cobblestone landing project. 

It was on slide 10. 

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On 2/1/2022 at 12:43 AM, MDC26 said:

This is really impressive! I love how Memphis is embracing the riverfront with development, as the heart of the city. Will be exciting to see it grow and develop. 

Does anyone know an update with the Walk project, by Beale Street? Has that started construction? I know COVID delayed it, but I was hoping construction for phase I is underway. Another super exciting project to watch.

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16 hours ago, Memphis4ever said:

Here are some apartments behind the snuff district

20220211_131611.thumb.jpg.d2af32080cc20b909a308e3931e00b33.jpg

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here are some pictures from the snuff district looks like new windows have been installed in the historic building

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Looking good. That building and are will be really cool when finished. 

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  • 2 weeks later...

Good to see this one moving forward!

Downtown’s Butler Row project moves ahead with $2.8M buy

https://dailymemphian.com/section/business/article/27190/capital-square-buys-downtown-property

Capital Square bought the Butler Row property at 509 S. B.B. King Blvd. from Drapac Capital. Construction on the mixed-use project is set to begin later this year. 

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22 hours ago, MDC26 said:

The exterior of the Walgreens building downtown @ Main & Madison has been completed, and they also renovated the 2nd floor for apartments.  

 

WG.png

I am so glad they renovated this building.  Our Walgreens was one of the worse looking one compared to those i see in other downtowns.  These smaller renovations really start to make a difference in terms of a more refreshed walking experience.

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On 2/26/2022 at 5:19 PM, MLBrumby said:

At least you guys have a downtown drug store. Chattanooga doesn't have one. And I'm pretty sure Nashville doesn't either. 

For the longest time there was a Walgreen's in downtown Nashville next to The Arcade.  Did that one close down?

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25 minutes ago, MLBrumby said:

I stand corrected!  Glad it's there. Wish we had one here. There is one on the North Shore, and it's reasonably convenient for a third of downtown residents. 

I really wish the North Shore Walgreen's was built up to the street like the rest of the businesses on that corridor, but I am glad it's there.

Edited by BnaBreaker
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Good news indeed!

Intrator secures initial funding, ready to proceed with $1.1B Pinch development

https://www.bizjournals.com/memphis/news/2022/03/02/intrator-pinch-district-funding-columbia-pacific.html

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Quote

 

After years of delays caused by the pandemic, the proposed, $1.1 billion, multiblock development in the Pinch District led by Tom Intrato is again moving forward.

In recent weeks, Intrator has consolidated his Pinch holdings and debt into a single entity: Memphis Pinch LLC. And he has secured $20 million in financing from Seattle-based investment firm Columbia Pacific Advisors.

Now, with COVID restrictions being lifted nationwide, Intrator said he is only waiting to sign a development agreement to begin the process of getting permits for the project.

“As things are now coming down, we are very adamant on getting moving there,” Intrator told MBJ Tuesday, March 1. “Openly, I have full intentions to develop what we had proposed and went through City Council and County Commission [with] and got those approvals.”

The Pinch project was announced in November 2019, and a 30-year PILOT and other incentives were approved by a Downtown Memphis Commission board in December 2019; by the Memphis City Council and Shelby County Commission in December 2019; and by the State of Tennessee in March 2020.

Intrator said the project will resemble what was initially proposed, although he does expect some retooling to match a post-pandemic world.

“I think it's very realistic to presume that some of the office spaces will be converted to more multifamily,” Intrator said. “I think there will be some rematching like that. But overall, with the magnitude, we have the full intention to go ahead with what we had planned.”

The Pinch project has been stuck in silence since the pandemic hit, but it wasn't because the plan was forgotten, Intrator said. Everything just had to take a back seat as the City of Memphis responded to the crisis.

Now, he said, the project faces a realistic path to fruition.

“We've already allocated funds for the permitting process, which would be the next stage,” Intrator said. “The development agreement needs to get signed, then we will go through the designing and permitting. And once we complete permitting, we should be able to go vertical.”

Will Nelson, director of real estate lending at Columbia Pacific Advisors, said the firm was drawn by Intrator himself to invest in the project.

"We invest in people, and so the fact that he wasn't out rubbing pennies together to find a deal [was attractive]," Nelson said. "He spent a lot of time getting to know the Memphis market. He likes the Memphis market, he's lived there."

Nelson said Memphis' recent growth was also attractive to his firm, and Columbia may finance even more of the project once it breaks ground.

"Memphis needs quality housing," Nelson said. "You're seeing it in how fast apartments are leasing, you're seeing it in the fact that stakeholders are the ones taking over office [space] — they're not going anywhere, and they're reinvesting into Downtown. That's a passion play, and that's likely going to be great runway for [Intrator] and his project."

Intrator believes the actual groundbreaking could still be a significant time away, but he's hoping to get underway in 12 to 18 months. For now, Intrator is focused on getting a development agreement signed so he can begin the permitting process. 

“I hope that [a development agreement] happens sooner rather than later, of course, but that could be 30 days, and it could be a year,” Intrator said. “Once that happens, there's approximately another year to get through the permitting process.”

Intrator is working with LRK as the architect for the Pinch development. He doesn’t expect there to be one single general contractor and predicted that, given the scope of the project, several general contractors could be selected.

With all the other projects going on in Memphis’ core, he believes Downtown will continue to grow as a destination for investors and grow into a major secondary city like Nashville or Austin.

“I'm probably even more optimistic today about the city than I was in the past,” Intrator said. “But we need to go through the dance.”

As originally proposed, phase one of Tom Intrator's Pinch District plan included:

  • Residential: 976,000 gross square feet / 801,000 net square feet, approximately 942 units
  • Hotel: 290,000 gross square feet / 240,000 net square feet, 406 rooms
  • Retail: 169,000 gross square feet / 160,000 net square feet
  • Office: 222,000 gross square feet / 200,000 net square feet (at least 150,000 square feet to be built spec at the start of the phase)
  • Total: 1.66 million gross square feet / 1.4 million net square feet of space
Edited by VSRJ
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