MEMPHIS | Development News

[Johnny Ryall]

Originally Posted by James Owen

It was supposed to be a parking garage surrounded by townhouses. The garage portion was mostly finished, but the townhouses were never built, which would explain how ugly it looks.

That makes sense. Once you mention it, I now seem to recall details about townhome units on the grounds.

In terms of the apartment tower itself, I would've chosen better colors, but it is what it is. Hopefully the banks and the contractors are able to settle things down the road.

Yeah, the color scheme is kind of fruity. I don't know if a new owner would change that before occupancy, but they will be selling some of the best views in Memphis & region.

[Johnny Ryall]

The Orpheum picks The Crump Firm to design new performing arts center
The Commercial Appeal

The planned three-story, 50,000-square-foot building will include a rehearsal hall, commercial kitchen, dressing rooms, classrooms, offices and meeting areas, and a black box theater. The estimated cost of the building is $10.7 million. Of that amount, $4.2 million has been committed to date, Halloran said.

http://www.commercialappeal.com/news...erforming-art/

[kingchef]

jr, just so i understand, this is the same proposal that was previously announced late last year or early 2012---shortly before or after the production of "Memphis" is it not? i remember an article about increasing the space for rehearsal, etc. i think it is wonderful news for the arts community in the city, as well as the county. memphis is doing well w/ the synergy that seems to be present w/ moblizing all fronts, even though each may have its individual purpose. that speaks well for the artist and those who help back them. at any rate, the orpheum and its visibility will increase.

[Johnny Ryall]

Originally Posted by kingchef

jr, just so i understand, this is the same proposal that was previously announced late last year or early 2012---shortly before or after the production of "Memphis" is it not?

Yes, that's correct.

[Johnny Ryall]

I was wondering about this building just weeks ago as I saw its' exterior being updated. Great article.

Venson Center Work Kicks Off Heritage Trail
Memphis Daily News

The ambitious $1 billion, 10-year redevelopment project called Triangle Noir during former Memphis Mayor Willie Herenton’s administration is now called Heritage Trail. And the first move beyond the demolition of the Cleaborn Homes public housing development is the exterior renovation of the R.Q. Venson Center high rise at Beale Street and Danny Thomas Boulevard.

http://www.memphisdailynews.com/news...eritage-trail/

Other quotes concerning future development from this comprehensive, quality article by Bill Dries:

Beyond that, (Robert) Lipscomb said future plans include an upgrade of nearby Church Park and a walking trail that connects the large group of historical sites in the area around and south of FedExForum. “It’s going to be well lit. It’s going to be a beautiful area. We’re going to redo Church Park. We’re going to redo Clayborn Temple,” Lipscomb said. “We’re going to have a walking trail from the National Civil Rights Museum all the way down here with monuments and points to recognize African-American history.”

As Triangle Noir, the effort had more ambitious goals including two proposals for luxury hotels on the south side of Linden Avenue between Fourth and Danny Thomas. The buildings there have been cleared, but private financing for the projects has been more difficult.

http://www.memphisdailynews.com/news...eritage-trail/
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Also, here's a before pic & after rendering I found at the Pickering Firm's website:

http://www.pickeringfirm.com/news/20...his-high-rise/

[arkitekte]

Thanks for posting the article Johnny. I believe the Heritage Trail redevelopment will be done right and it will be nice when finished. Now if we could only get that Hilton on Beale.

[Johnny Ryall]

Church near Graceland razed, freeing 6 acres for development
The Commercial Appeal

The property's value should be enhanced in coming years as the city and state carry out a $43 million project to improve Elvis Presley Boulevard, from Shelby Drive to Brooks Road. Plans are to widen the road, put overhead utilities underground, build landscaped medians, improve or add sidewalks, and add bike lanes, all in an effort to make the three-mile section more appealing and boost economic development. Elvis Presley Enterprises also has plans to add attractions, but they've been put on hold because of the weakened economy. About 31,000 cars a day travel by Graceland, which has averaged 600,000 visitors a year.

http://www.commercialappeal.com/news...g-6-acres-for/

[Johnny Ryall]

Plan for sports facilities at Mid-South Fairgrounds will go to City Council soon
The Commercial Appeal

The plan now under study by Robert Lipscomb, Memphis Housing and Community Development Division director, and O.T. Marshall Architects, the firm owned by former Memphis City Council member Tom Marshall, would raze the Mid-South Coliseum and replace it with "tournament level" baseball diamonds and a new multipurpose indoor facility in a parklike setting. The planners predict that the people who use the proposed sports complex would support an "urban village" with retail stores, restaurants and possibly a hotel or convention space. The plan calls for the $148 million project to be financed by sales taxes generated from a Tourist Development Zone — along with sponsorships, naming rights and land leases from the retail development — and would fund public improvements to the Fairgrounds as well as neighborhoods around the site...

The city has submitted a "letter of intent" to the state to create a TDZ that would include the Children's Museum of Memphis, Tobey Fields, Liberty Bowl Memorial Coliseum, Tiger Lane, the new retail area at the Fairgrounds and Overton Square, which is being redeveloped by Loeb Properties in partnership with the city.

http://www.commercialappeal.com/news...is-will-go-to/

[arkitekte]

"Liberty Bowl Memorial Coliseum" Can the CA get anything right?

[Johnny Ryall]

Originally Posted by arkitekte

"Liberty Bowl Memorial Coliseum" Can the CA get anything right?

[kingchef]

does anyone know how clayborn temple will be used---worship space or public building, museum, etc. i am glad to hear that it won't be torn down. btw, those spaces, created by razing those buildings, is not appealing. if they are not going to get the buildings put up, then the ground should have some professional landscaping. i thought that federal money was already allocated for the foote homes project. finally, the venson building looks fine, but honestly, if you don't see a good deal of the same lines in that building as you do in the horizon...just saying they are similar in many ways. as for public housing for the elderly, i am all for highrises for them, and i hope the city of memphis will develop a dedicated transportation program to shuttle the elderly to supermarkets, clinics, and other essential services. they also need to be particularly guarded from thugs, etc. by police and security. i agree w/ massing, in this particular area, if each person makes a conscious decision to move into one of the highrises.

[kingchef]

i recently saw some comments to the CA, smart, or some media re: memphis and the need for her to roll up the sidewalks, lock the rest of the vacant highrises, and call it a day. actually, this description is much more kind than the words used by the other authors. nevertheless, i took a look at class a office space in the following cities: philly, louisville, denver, nashville, and two or three others.

of those, the lowest vacancy rate was in the last three cities checked. one had a cbd vacancy of 9.6%, another 9.8%, and the other right at 11%. philly came in w/ a class a vacancy of 16.4%, louisville, currently just below 18%; however, that is about to change, as the city's tallest building lost the major tenant, which anchored the building. though 3 floors will be occupied, over 220,000 sq ft will be left vacant. after the changes the 37 story building will have 3 stories occupied. denver, which really surprised me w/ the high number, is described as flat and anticipates little to no absorption w/in the next 2 years. currently, it has a vacancy rate of 16.2%. nashville has a vacancy rate that is described between 12% to 21+%. as w/ most information, it is hard to tell why their would not be a specific number for class a vacancy in their specified cbd. other sources that i checked, placed nashville's absorption as flat, w/ at least two to five years for absorption. class a vacancy is 22.6%, according to most management companies. the pinnacle, the 2 1/2 year old office bldg is currently suffering the highest occupancy rate of any of the downtown office buildings. all cities were doing better in suburban areas.

consequently, memphis keep your head up. there are many who are worse off than you. they just don't have eyes on them constantly. i just remember KC, MO was the other city reviewed. i can't remember the specific numbers, but they weren't terrible, but they weren't the best, and they were flat, w/ little to no absorption in the latest quarter.

[arkitekte]

^^I think eventually space downtown will be filled. What I'm curious to see is the residential occupancy rate of downtown Memphis.

[Johnny Ryall]

Plans for Memphis Fairgrounds slowly moving forward
Memphis Business Journal

The current cost of the project is estimated to be around $148.4 million, with a portion of the $20 million redevelopment of Overton Square being folded into it. That was done, Lipscomb said, in order to have both projects funded by TDZ funds.

http://www.bizjournals.com/memphis/n....html?page=all

COURTESY O.T. MARSHALL ARCHITECTS P.C.

[Johnny Ryall]

Electrolux moves closer to hiring
First product testing expected in September
Memphis Business Journal

Electrolux Home Products Inc. plans to hire nearly 200 people in the next nine months and begin producing test products in its new Memphis facility by December. The initial phase of the company’s $190 million Memphis manufacturing facility is nearing completion, and executives and management employees anticipate being in offices by the end of October, says Jacob Burroughs, director of the Memphis project.

http://www.bizjournals.com/memphis/p...to-hiring.html

COURTESY ELECTROLUX NORTH AMERICA

[Johnny Ryall]

Mellow spot in East Memphis
National pizza chain expanding in local market
Memphis Business Journal

A funky national pizza restaurant concept has picked a funky East Memphis building for its second location in the market. Jadon Enterprises LLC, the local franchisee for Atlanta-based Mellow Mushroom, has signed a lease to occupy the former AAA Auto Club Group building in Eastgate Shopping Center. The franchise owners, Cary Fairless and Lori Fairless, plan to open an eclectic pizza pub in the 7,880-square-foot building at 5136 Park by spring 2013.

http://www.bizjournals.com/memphis/p...t-memphis.html

ALAN HOWELL | MBJ

[Johnny Ryall]

MCR safety facility to be sustainable
Memphis Business Journal

MCR Safety’s new $8 million, 45,000-square-foot corporate headquarters won’t officially be LEED-certified, but it will be a model of sustainability. The building will be located at Schilling Farms in Collierville.

http://www.bizjournals.com/memphis/p...stainable.html

COURTESY RENAISSANCE GROUP INC.

[Johnny Ryall]

South Main district to get boost from Harahan Bridge project
Memphis Daily News

The attention Downtown Memphis’ South Main Historic Arts District and its surrounding areas has received this year has far-reaching implications for future development. Recent high-profile deals the community has seen get the green light include the Chisca Hotel redevelopment, Storefront Improvement Grant Program, branding efforts with North Star Destination Strategies, growth at The Orpheum Theatre Memphis and Memphis Central Station, a flurry of apartment and loft rehabs, and retail activity with a new athletic club and restaurants.

http://www.memphisdailynews.com/news...ain-connector/

(Daily News File Photos: Lance Murphey)

[kingchef]

the bridge project, in so many ways, is exciting. i wrote a post about three years ago about raising money to paint the bridges a beautiful copper. i would love to see that happen. i noticed that nothing was said about the french fort neighborhood, possible retail, a local restaurant, market, gas station, and perhaps a nice neighborhood park and neighborhood senior citizens building. there was also mention of rehabbing the hotel just above the east end of the bridges. this would be a great area for some of these employees, who might be looking for homes to own or rent, as they are employed by the mitsubitchi and other companies, as they build and expand. i also think it would be nice to see all of this area flow directly as a connected part of the downtown area all the way to the north. i think the horizon looks pretty anchoring where it stands, as does the rivermark (?), i think that name is questionable, but at one time i looked at it to purchase a place for an in-town address, as i was traveling so much.

i checked out my statements re: boyle, the regalia, etc. some of the folks who are talking about a new highrise are referring to the still intended building of the grandview condo, the other building that i read about was a 16 story mixed office space on shady grove, but supposedly, it is not the building announced about two weeks back, which is near or on kirby. as for downtown, the last i heard about looking for land to build downtown was about two years ago. for those who might know, most articles state---and i am told by many investors and developers---that they have been interested in building in the downtown memphis market for many years; however, land is inordinately high, politics, and black-balling is what prevents so many buildings and companies. boyle offers a sensible explanation and, frankly, ridgeway trace is a testament to what their philosophy is regarding building. suburban parks near executives near their homes. still, you see much of shelby county covered w/ wide expanses of office buildings. this is not only in memphis but in murfreesboro, franklin, lebanon, and further and further from the urban areas. i noticed recently that fayette county, near piperton, announced that a warehousing operation was beginning there. it will be interesting to see how many desoto will now loose to fayette, if a trend is established.

[James Owen]

Originally Posted by kingchef

the bridge project, in so many ways, is exciting. i wrote a post about three years ago about raising money to paint the bridges a beautiful copper. i would love to see that happen. i noticed that nothing was said about the french fort neighborhood, possible retail, a local restaurant, market, gas station, and perhaps a nice neighborhood park and neighborhood senior citizens building. there was also mention of rehabbing the hotel just above the east end of the bridges. this would be a great area for some of these employees, who might be looking for homes to own or rent, as they are employed by the mitsubitchi and other companies, as they build and expand. i also think it would be nice to see all of this area flow directly as a connected part of the downtown area all the way to the north. i think the horizon looks pretty anchoring where it stands, as does the rivermark (?), i think that name is questionable, but at one time i looked at it to purchase a place for an in-town address, as i was traveling so much.

In terms of any future developments in the historic French Fort neighborhood, there likely won't be much action until after the reconfiguration of the I-55/Crump Boulevard interchange is done in the not too distant future (TDOT funds pending; new flyover ramp and roundabout).