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

[VSRJ]

New Tom Lee Park Design Unveiled

https://www.bizjournals.com/memphis/news/2019/02/02/first-look-new-tom-lee-park-design.html

Quote

 

Memphis residents are getting their first chance to see what their riverfront can become.

The major modifications to the Memphis riverfront was revealed Friday, Feb. 1, as the Memphis River Parks Partnership held a grand opening of the Tom Lee Park Engagement Center at Beale Street Landing.

The engagement center hosted a large architectural model, renderings, animations, and virtual reality walkthroughs of the future Tom Lee Park.

The opening coincided with the start of Black History Month; the park is named after Lee, an African-American river worker who saved the lives of more than 30 passengers of the sinking steamboat M.E. Norman, which overturned in 1925 near Memphis.

Tom Lee Park is a popular location for walkers, joggers, rollerbladers, and cyclists and hosts events throughout the year, including the Beale Street Music Festival that kicks off Memphis in May.

Carol Coletta, president and CEO of the Memphis River Parks Partnership, said the organization has spent more than $100,000 making sure it can continue to satisfy the needs of Memphis in May, including the legions of teams that come out for the World Championship Barbecue Cooking Contest in May.

“After hearing from more than 4,000 residents and visitors and learning from more than 100 years of riverfront planning, we’re thrilled to share a design that Memphians can call theirs,” Coletta said. “Not only will the park host major civic celebrations and festivals, it will be a crossroads for all of Memphis.”

The redesign of Tom Lee Park has been led by Chicago-based architecture and urban design practice Studio Gang, in collaboration with New York-based landscape architecture and urban design studio SCAPE. Local students from Douglass High School and through the nonprofit Knowledge Quest served as embedded designers through the Youth Design Leadership Program.

 

 

[VSRJ]

Hopefully this is the start of the long-await Pinch District redevelopment...

St. Jude plans patient family housing in Pinch

https://www.bizjournals.com/memphis/news/2019/02/05/st-jude-plans-patient-family-housing-in-pinch.html

[VSRJ]

More great job growth and redevelopment news for Downtown Memphis:

https://www.commercialappeal.com/story/money/business/2019/02/12/fedex-bringing-jobs-gibson-guitar-building-downtown-memphis/2845194002/

FedEx Logistics moving headquarters to former Gibson Guitar building in Downtown Memphis
 

Quote

 

A FedEx company is moving its corporate headquarters to Downtown Memphis and creating 689 jobs along with it.

FedEx Logistics is relocating to the Gibson Guitar Building, Gov. Bill Lee and local officials announced Tuesday at the former guitar factory off Beale Street.

This is Lee's first economic development announcement since taking office.

"I'm happy it's in Downtown Memphis," Lee said.

Richard Smith, chief executive of FedEx Logistics, said the location is "ideal" for the future of the company and suggested that the number of employees in Downtown could grow to as many as 1,200.

FedEx Logistics’ lease at the building will begin in April 2020, the company said in a release. FedEx will expand the building from 154,000 square feet to just under 200,000 square feet, the release said.

Smith said in explaining the move to merge FedEx Logistics offices into one campus that younger generations want to work in "bustling urban cores."

Representatives of the FedEx division examined the factory building last year but decided to walk away when other issues absorbed top executives at the division.

“I still think that was a pretty cool idea,” Smith said last month about relocating to the factory property off Beale. “The challenge was one of timing.”

The move gives  FedEx Logistics a noticeable location next to the most prominent public arena in the area, FedExForum.

 

Edited February 12, 2019 by VSRJ

[VSRJ]

Office tower, hotel pitched next to FedEx Logistics HQ at Gibson

https://www.bizjournals.com/memphis/news/2019/02/12/office-tower-hotel-pitched-next-to-fedex-logistics.html

I went ahead and made a separate thread as this will likely be a big development to follow: 

 

[MLBrumby]

So is that 3 new towers downtown, the Beale Landing and a renovation of the tallest building in town. Plus the CC expansion?  Great!

Edited February 12, 2019 by MLBrumby

[DRG901]

16 minutes ago, MLBrumby said:

So is that 3 new towers downtown, the Beale Landing and a renovation of the tallest building in town. Plus the CC expansion?  Great!

-One Beale has an office tower planned in a later phase (mid-rise apartments/hotel currently starting construction)

-100 N Main itself  is set to be redeveloped into apartments--  The new 26 story Loews Hotel is also part of this development to the north, and there are also  plans for 2 new 30 story office towers south of the 100 N Main building.

- Also the Union Row project is set to have 2 office towers as well as a hotel tower in the first phase.

-And now the announcement of this.   Been a nice few months for big projects downtown!

 

Also, it's nice to see this forum back to life-- long time lurker but rarely post!

 

[bnacincy]

Great News! Go Memphis Go!

[smeagolsfree]

If one of you gentlemen is so inclined to make a development map for Memphis, just email NEO and he will share what you need to so to get it set up. It would be a good thing to do for the Page.

[VSRJ]

Hopefully this theater will fare better than Muvico at Peabody Place.

Malco: Powerhouse Cinema will open Downtown in March

https://www.dailymemphian.com/section/business/article/3092/Malco-Powerhouse-Cinema-will-open-Downtown-in-March

[Tennessine]

Hell yes. Love these projects. I see you, Memphis. Such an underrated city.

[VSRJ]

Blue Monkey developers to start mixed-use project

https://dailymemphian.com/section/business/article/3221/Blue-Monkey-developers-to-start-mixed-use-project

Quote

 

Construction may soon start Downtown on a three-story, mixed-use building with a ground-floor deli restaurant and four apartments above.

The $1.6 million building will rise at 529 S. Front next to the Blue Monkey, according to a building permit application filed this week.

The site is 0.6 acres at the vacant, northwest corner of Front and G.E. Patterson.

The same partners who own both the Downtown and Midtown Blue Monkey restaurant/bar locations will be majority owners in the mixed-use building.

Each of the three floors will be 2,600 square feet, with the first floor to be occupied by a yet-to-be-named deli in the front and a commercial kitchen in the back, said one of the partners, Michael Johnson.

The top two floors will each have two apartments of about 1,250 square feet each.

 

 

[VSRJ]

It seems like Downtown Memphis takes one step forward and two steps back...

Raymond James to move from Downtown to East Memphis

https://dailymemphian.com/section/business/article/3317/Raymond-James-to-move-from-Downtown-to-East-Memphis

[VSRJ]

THANK YOU! This was such a ridiculous lawsuit. Hopefully it's smooth sailing from here for the much-needed development.

Chancellor throws out Sheraton lawsuit against City of Memphis

https://www.bizjournals.com/memphis/news/2019/02/25/chancellor-throws-out-sheraton-lawsuit-against.html

[James Owen]

On 2/25/2019 at 1:01 PM, VSRJ said:

THANK YOU! This was such a ridiculous lawsuit. Hopefully it's smooth sailing from here for the much-needed development.

Chancellor throws out Sheraton lawsuit against City of Memphis

https://www.bizjournals.com/memphis/news/2019/02/25/chancellor-throws-out-sheraton-lawsuit-against.html

I never understood why they would even sue to keep the Loews hotel project from happening. If the owners of the Sheraton are that concerned about competition, they should put their money where their mouths are and actually invest in making substantial improvements to their hotel property.

[VSRJ]

$47M renovation planned for Downtown Doubletree, will become four-star hotel

https://www.bizjournals.com/memphis/news/2019/03/05/47m-renovation-planned-for-downtown-doubletree.html

Quote

 

Investors are planning to redevelop Downtown's DoubleTree by Hilton hotel.

Ohio-based Continental Hospitality Group and Memphis-based Wright Investments are applying for a 15-year PILOT (payment-in-lieu-of-taxes) for the project from the Downtown Memphis Commission's (DMC) Center City Revenue Finance Corp. The hotel is located at 185 Union Ave.

The project would have a development budget of $47 million. The firms plan to renovate the 280-room, limited-service hotel into a full-service, four-star hotel, according to the DMC staff report.

"The upgraded hotel, meeting spaces, and food and beverage offerings will improve the offerings to these users," the staff report said. "The improvements to the public realm brought by the planned new construction and exterior changes achieve DMC’s goal of ensuring that all four corners at this intersection are highest and best use."

According to staff report, the proposed building will be 192,000 square feet along with a 69,000-square-foot parking deck. The project is conservatively estimated to generate $13 million in incremental taxes to state, local, and municipal entities over the 15-year PILOT period.

The redevelopment of the property will include relocation of the main entrance to B.B. King Boulevard, a new hotel drop zone along B.B. King, a new or relocated front desk and lobby area, upgraded atrium area, relocated lounge and kitchen on the main floor, an enhanced or reconfigured banquet kitchen, new flexible space along Union Avenue, a renovated ballroom, expanded meeting space, renovated guest rooms, upgraded guest bathrooms, exterior enhancements, and elevator upgrades.

 

 

Edited March 6, 2019 by VSRJ

[Dale]

Is 100 N Main moving along ? Haven’t heard anything for awhile.

[VSRJ]

1 hour ago, Dale said:

Is 100 N Main moving along ? Haven’t heard anything for awhile.

Nothing as of late (that I'm aware of). The focus seems to be on getting the Loews hotel off the ground: https://www.bizjournals.com/memphis/news/2019/03/14/bill-extending-deadline-for-downtown-loews-clears.html

Edited March 18, 2019 by VSRJ

[Dale]

14 minutes ago, VSRJ said:

Nothing as of late (that I'm aware of). The focus seems to be on getting the Loews hotel off the ground: https://www.bizjournals.com/memphis/news/2019/03/14/bill-extending-deadline-for-downtown-loews-clears.html

Thanks, keep us posted!

[VSRJ]

Not crazy about this design, but it's better than nothing, I suppose.

Demolition begins for Beale Street hotel project
https://dailymemphian.com/article/3932/Demolition-begins-for-Beale-Street-hotel-project

[Tennessine]

I like that there's a vintage Beetle, a Hummer, and a Mini Cooper all in the same shot

[VSRJ]

This could be dangerous...

Handy Park renovation on Beale may start with Insomnia Cookies

https://dailymemphian.com/section/business/article/3953/Handy-Park-renovation-on-Beale-may-start-with-Insomnia-Cookies

 

[VSRJ]

Another step taken for One Beale's riverview hotel

https://dailymemphian.com/article/4155/Another-step-taken-for-One-Beales-riverview-hotel

Quote

 

Foundation work may start soon on One Beale’s nine-story hotel that will offer drinks and food with a river view.

The Hyatt Centric will provide amenities to Memphians and out-of-town guests alike, developer Chance Carlisle said Monday.

A permit application, estimating the foundation work will cost $1.9 million, was filed late last week by 33 Beale Street Hotel Company LLC, the joint entity formed by Hyatt Hotels and developer Carlisle LLC.

The Hyatt Centric is estimated to cost $70 million to $75 million to build.

 

Additional info from the architect (HBG): http://www.hbginc.com/projects/on-the-boards/hyatt-centric-hotel-at-one-beale/#.XKI4_phKiUk

[VSRJ]

Construction begins on new Shelby County Health Department headquarters

https://dailymemphian.com/section/businessreal-estate/article/4125/Construction-begins-on-new-Shelby-County-Health-Department-headquarters

Quote

 

Construction has begun on a new $25 million Shelby County Health Department headquarters. 

The new facility is at the corner of Jefferson Avenue and North Manassas Street and keeps the same address, 814 Jefferson. Once construction of the new building is complete, the old buildings will be torn down and a new parking lot will be added. 

Discussions about the new headquarters began several years ago after a study on the current site recommended building a new facility instead of renovating the current one. One building was constructed during the 1950s and the other in the 1970s.

 

[BnaBreaker]

Why are there so many people hanging out around the Health Department?  

[VSRJ]

I'm not crazy about this design, but it sure beats the empty plot of land there now (and the Benchmark that stood there prior).

$15 million permit filed for former Benchmark Hotel site Downtown

https://www.bizjournals.com/memphis/news/2019/04/15/15-million-permit-filed-for-former-benchmark.html