MEMPHIS | Development News

[arkitekte]

Towering Progress
Construction of IP’s new East Memphis building reaches next stage
https://www.memphisdailynews.com/new...ring-progress/

The shell of the newest addition to the East Memphis office skyline is complete, setting the stage for exterior work on International Paper’s new building to begin.

“The structure has been built and now they’re starting from the ground up putting the skin on the building,” said Matthew Marzolf, director of development for Highwoods Properties Inc. in Memphis.

The new building will include almost 3.1 million pounds of structural steel, the equivalent of 253 African elephants. The project includes around 10,966 cubic yards of ready-mix concrete material, which equals over 1,100 concrete trucks delivered to the site, and 189 miles of wiring.

While the new 241,000-square-foot building will look slightly different from IP’s current Highwoods’ campus, it will have many of the same touches. The first three floors of the exterior will feature a granite and glass exterior and the rest of the building will be mostly glass.

“The materials will be similar and you will be able to tell they’re related buildings,” Marzolf said. “This will have more glass. The palette is the same but the way it is painted is different.”

The building will also feature abundant landscaping, although maybe not at the same level as the existing IP campus, which features over 30 varieties of trees and has long served as a sort of urban forest along the city’s most-coveted office corridor.

“It will not be landscaped to that extent but we will have landscaping so you will know it is part of the campus across the street,” Marzolf said.

[memphisborn]

Originally Posted by Huntsvillenative

FWIW, I have noticed that the decor and look of downtown San Diego is a lot like Memphis. The HRH they have there is snugged into a small space of the exact square footage parking lot available across the street from the Orpheum Theater. There's enough room there too to build the hotel adjacent to or on top of a 100-car parking deck.

Just glad to see Memphis finally be proactive and act like a major city for a change.

Good point pursuing HRH was a major city like move hope they get it done here"s a pic of what i think it should look like

http://www.memphisrap.com/2014/04/18...-beale-street/

[Wayward Memphian]

Originally Posted by memphisborn

Good point pursuing HRH was a major city like move hope they get it done here"s a pic of what i think it should look like

http://www.memphisrap.com/2014/04/18...-beale-street/

This is the casino-less San Diego Hard Rock Hotel

[DoomJ]

Check this out!

Plans for giant One Beale tower back on the table

http://www.bizjournals.com/memphis/n...the-table.html

I will reserve all further excitement (and reservations) "until all the facts are in."

[MEMFLY]

http://www.bizjournals.com/memphis/n...the-table.html

[arkitekte]

I saw Ed Arnold tweet that there was a big story in the downtown real estate market coming up this afternoon. I didn't expect OneBeale, but I figured a large residential or commercial development might have been what he was referring to. I'm curious to see what develops from this and any new renderings that are released whenever/if they continue to try to develop this property.

I bet kingchef is doing back flips right now.

[DoomJ]

Originally Posted by arkitekte

I saw Ed Arnold tweet that there was a big story in the downtown real estate market coming up this afternoon. I didn't expect OneBeale, but I figured a large residential or commercial development might have been what he was referring to. I'm curious to see what develops from this and any new renderings that are released whenever/if they continue to try to develop this property.

I bet kingchef is doing back flips right now.

I was kinda hoping someone stepped up on the Tennessee Brewery. The "Raymond James looking for space" bit caught me off guard. Like, vacate the old Morgan Keegan for shiny new space?

I don't like darkening one tower for another. Sorta like when the MK Tower was built in the '80s, the Sterick went out.

[arkitekte]

Originally Posted by DoomJ

I was kinda hoping someone stepped up on the Tennessee Brewery. The "Raymond James looking for space" bit caught me off guard. Like, vacate the old Morgan Keegan for shiny new space?

I don't like darkening one tower for another. Sorta like when the MK Tower was built in the '80s, the Sterick went out.

I hear you on the brewery. I mentioned something about the brewery to an architecture/real estate friend of mine over the weekend and he jokingly mentioned that if something could logically be done with it, then it would have already made some progress. I guess that's somewhat true considering Crosstown and Chisca have been bailed out. The two main problems with the brewery is that someone will have to have really deep pockets (and not care about not making their money back in a decently timed fashion) and too many people not caring about it being torn down until it's too late...the current layout is somewhat of a headache to try to redevelop into something mixed use in the future; especially the upper floors.

I think the Morgan Keegan tower would be ok with RJ moving to a new tower; especially with any potential move being 6 or so years from now. That would allow the property owners to find new tenants which shouldn't be as difficult as it has in the past since there's a push to get companies to move downtown. The difference between a move by RJ from the Morgan Keegan Tower and the Sterick is that one is only 29 years old and is in good shape where as the other was 50+ and in pretty bad shape. I know that TVA and KPMG also occupy space there, I just don't know how much and if there are any smaller companies that lease space there (I'm sure there are, someone help me out by looking it up for me).

While we're on the topic of towers, 100 N. Main still has tenants there, so I don't know how fast they're planning on moving on that. If there was one project that I wish would get going (other than the Brewery) it's this one. I think that it would have the overall highest impact on downtown.

[MEMFLY]

"Carlisle declined to go into detail on the modifications to the plans, but did say they would be "significantly different.

" and no more hotel?

"He declined to disclose the prospective tenant's name. But one large office user that's currently looking for new space is Raymond James, currently in Raymond James Tower at 50 N. Front St. in Downtown."

Moving entirely to a new building?

[DoomJ]

Originally Posted by arkitekte

I hear you on the brewery. I mentioned something about the brewery to an architecture/real estate friend of mine over the weekend and he jokingly mentioned that if something could logically be done with it, then it would have already made some progress. I guess that's somewhat true considering Crosstown and Chisca have been bailed out. The two main problems with the brewery is that someone will have to have really deep pockets (and not care about not making their money back in a decently timed fashion) and too many people not caring about it being torn down until it's too late...the current layout is somewhat of a headache to try to redevelop into something mixed use in the future; especially the upper floors.

I think the Morgan Keegan tower would be ok with RJ moving to a new tower; especially with any potential move being 6 or so years from now. That would allow the property owners to find new tenants which shouldn't be as difficult as it has in the past since there's a push to get companies to move downtown. The difference between a move by RJ from the Morgan Keegan Tower and the Sterick is that one is only 29 years old and is in good shape where as the other was 50+ and in pretty bad shape. I know that TVA and KPMG also occupy space there, I just don't know how much and if there are any smaller companies that lease space there (I'm sure there are, someone help me out by looking it up for me).

While we're on the topic of towers, 100 N. Main still has tenants there, so I don't know how fast they're planning on moving on that. If there was one project that I wish would get going (other than the Brewery) it's this one. I think that it would have the overall highest impact on downtown.

Totally understand the Brewery issues. It was simply my fantasy that someone had an idea and money, hah.

But yeah, One Beale happening could be quite a catalyst. Having a shiny new beacon dramatically altering the skyline for the first time in decades could easily cascade into other developments and redevelopments.

I'm glad there's some real excitement again. I hope this gets going along.

[DoomJ]

Originally Posted by MEMFLY

" and no more hotel?

Moving entirely to a new building?

Nice catch, he mentioned office and multifamily. Not Hotel.

We haven't heard about a hotel from the 100 N. Main people either. Perhaps that's why there's no movement there since they announced.

[arkitekte]

Originally Posted by MEMFLY

and no more hotel?

It might be easier for them to try to develop this project without a hotel. 100 N. Main, Bass Pro, the hotel development at the old Greyhound site, etc. probably turned them off on the inclusion of a hotel.

Moving entirely to a new building?

That's what it sounds like. A new owner of Morgan Keegan along with a 30+ year old space that probably has somewhat outdated office space might have them wanting new space downtown.

[arkitekte]

Originally Posted by DoomJ

But yeah, One Beale happening could be quite a catalyst. Having a shiny new beacon dramatically altering the skyline for the first time in decades could easily cascade into other developments and redevelopments.

I'm glad there's some real excitement again. I hope this gets going along.

I think something will come of this. I think the market is there for residential units (rentals might be a little easier to develop on a large scale as compared to condos, but that's just speculation). The key fact is the mentioning of RJ being interested in relocating to this tower. If they can pre sale a decent amount of units and have the RJ sign a pre lease agreement then there's a good shot at this happening.

As far as the residential units, they might be able to test the water a bit on how the completion/marketing/success of the Horizon tower. I imagine in the next year or so those units will be online and Carlisle will be able to judge how many units they think they can sale and the size of those units based on what Horizon does. I just don't know how much of a need for that is there. Horizon might be all rental now since the court battle is settled; I'm just speculating on all of this of course.

[DoomJ]

Originally Posted by arkitekte

I think something will come of this. I think the market is there for residential units (rentals might be a little easier to develop on a large scale as compared to condos, but that's just speculation). The key fact is the mentioning of RJ being interested in relocating to this tower. If they can pre sale a decent amount of units and have the RJ sign a pre lease agreement then there's a good shot at this happening.

As far as the residential units, they might be able to test the water a bit on how the completion/marketing/success of the Horizon tower. I imagine in the next year or so those units will be online and Carlisle will be able to judge how many units they think they can sale and the size of those units based on what Horizon does. I just don't know how much of a need for that is there. Horizon might be all rental now since the court battle is settled; I'm just speculating on all of this of course.

The Horizon condos/apartments/whatever they end up being are pretty large from what I understand. I can see those being difficult. I wonder if One Beale would end up being smaller than originally planned, something like a twin 15 story development, one tower of office, one residential, something like that. Not as many "luxurious living amenities" and of course, no hotel.

[Trevor Birchett]

GREAT NEWS! Hopefully it makes it this time around! I was just Downtown yesterday and I walked past the vacant empty lot at the corner of Beale and Riverside and thought about what could have been. Awesome to hear that it may be back on the table. Memphis needs a new, modern building in the skyline.

[arkitekte]

Originally Posted by DoomJ

The Horizon condos/apartments/whatever they end up being are pretty large from what I understand. I can see those being difficult. I wonder if One Beale would end up being smaller than originally planned, something like a twin 15 story development, one tower of office, one residential, something like that. Not as many "luxurious living amenities" and of course, no hotel.

Size along with the stigma of those unfinished units sitting for years (even though the quality of those units hasn't diminished or at least shouldn't have) will probably affect the Horizon's sales some, so I'm curious as to how they'll be priced.

I think that One Beale will keep with the two tower design. With the given space and the possible relocation of RJ, I'd think they'd want their own identity and tower that's completely separate minus parking from the residential component. I guess we'll get a better idea on the amenities when we know what the number of units is.

[Trevor Birchett]

As I mentioned, I was downtown yesterday. Didn't see anyone mentioned that Beale Street Landing was essentially done! The two little areas adjacent to the actual building are all done. One is a kids area with the catfish and the other one is just a little seating area. They haven't installed the flags at the foot of Beale as proposed. Not sure if they are still going to do that or not.

[MEMFLY]

Does anyone have/know occupancy levels in the other large office buildings in downtown?

[arkitekte]

Originally Posted by MEMFLY

Does anyone have/know occupancy levels in the other large office buildings in downtown?

It's all here.

http://www.downtownmemphiscommission...trics_2013.pdf

On a side note, a 95% apartment occupancy rate is really good.

[Wayward Memphian]

Originally Posted by arkitekte

I hear you on the brewery. I mentioned something about the brewery to an architecture/real estate friend of mine over the weekend and he jokingly mentioned that if something could logically be done with it, then it would have already made some progress. I guess that's somewhat true considering Crosstown and Chisca have been bailed out. The two main problems with the brewery is that someone will have to have really deep pockets (and not care about not making their money back in a decently timed fashion) and too many people not caring about it being torn down until it's too late...the current layout is somewhat of a headache to try to redevelop into something mixed use in the future; especially the upper floors.

I think the Morgan Keegan tower would be ok with RJ moving to a new tower; especially with any potential move being 6 or so years from now. That would allow the property owners to find new tenants which shouldn't be as difficult as it has in the past since there's a push to get companies to move downtown. The difference between a move by RJ from the Morgan Keegan Tower and the Sterick is that one is only 29 years old and is in good shape where as the other was 50+ and in pretty bad shape. I know that TVA and KPMG also occupy space there, I just don't know how much and if there are any smaller companies that lease space there (I'm sure there are, someone help me out by looking it up for me).

While we're on the topic of towers, 100 N. Main still has tenants there, so I don't know how fast they're planning on moving on that. If there was one project that I wish would get going (other than the Brewery) it's this one. I think that it would have the overall highest impact on downtown.

It's a damn shame that a local brewer hasn't gotten big enough to envision establishments like Stone has out in the San Diego area. I envision The Brewery as just that, a Brewery, albeit one that brews and serves on site as well as sell to the local market.

A Stone Establishment: