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BrandonTO416

Gayoso Place - 20 story tower for Memphis

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http://www.bizjournals.com/memphis/stories...15/daily37.html

March 19, 2004

Demolition paves way for Gayoso Place

Demolition begins today on the former Cook & Love building at Main Street and Gayoso where the new $42 million Gayoso Place development will be constructed.

Gayoso Place will include a 20-story residential tower of 286 apartment units and a parking garage operated by the Downtown Parking Authority that will have 441 spaces.

The parking garage will be built on the first three floors of the building with the residential tower above. The first floor of the building will have 7,000 square feet for retail space. Construction on the project is slated for this fall with an anticipated completion date in 2006.

Gayoso Place will be the cornerstone of six projects being developed on Main Street between Union and Gayoso. This block, which is being billed as "New Main," will be transformed into a neighborhood with more than 500 residents and 50,000 square feet of restaurants and shops.

Nearly $60 million in public and private funds will be invested to revive the block over the next few years.

New Main is a public and private venture led by the Memphis Center City Commission, the primary leader in the comprehensive redevelopment of the Central Business Improvement District Downtown.

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I like the idea of 500 residences being developed on this block. ;) The dotted line shows the portion of Main Street that is shut off to automobiles and is trolley-only.

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Great news! I heard about this a few weeks back. It's nice to see that the project is going ahead.

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