MEMPHIS | Development News

[cecilism]

Originally Posted by TheKernel91

https://m.facebook.com/story.php?sto...id=85409903065

lol

Can't believe it was that intense on this one thread.

Wow. I just got through reading it all. That was pathetic.

[Johnny Ryall]

This article includes a photo update of the new St. Jude data center and another crane up on the north side of campus.

St. Jude Caps Busy 2016 with Investment Announcement
By Andy Meek/ Memphis Daily News

https://www.memphisdailynews.com/new...-announcement/

photo (Daily News File/Andrew J. Breig)

[maximus10]

UofM Student Rec Center and Land Bridge

Pulled these images of the new student rec center from the UofM president's twitter account. Looks incredible.

[Johnny Ryall]

Originally Posted by maximus10

UofM Student Rec Center and Land Bridge Pulled these images of the new student rec center from the UofM president's twitter account. Looks incredible.

Very cool looking. Thanks for sharing. A lot of good things coming to the U of Memphis campus & area.

[maximus10]

Memphis 2017: The Year to Come

Nice Memphis Flyer cover story on 2017 developments.

http://www.memphisflyer.com/memphis/...nt?oid=5128904

[DRG901]

Cool list of what's to come.

I really hope Crosstown spurs new development in the area. Also really hope something gets started on One Beale and 100 N Main. Also hopefully some new big announcements.

Anyone have any wishes for 2017?

[maximus10]

Originally Posted by DRG901

Cool list of what's to come.

I really hope Crosstown spurs new development in the area. Also really hope something gets started on One Beale and 100 N Main. Also hopefully some new big announcements.

Anyone have any wishes for 2017?

One Beale is definitely number one on my list. Also would like to see some sort of an announcement about a major hotel project downtown.

[Johnny Ryall]

Saddle Creek remodel nears completion
Meagan Nichols, Reporter/ Memphis Business Journal

Said to be the first lifestyle shopping center in the U.S., the Shops of Saddle Creek will soon complete its multimillion-dollar expansion and renovation... “We really wanted to put Saddle Creek in a position to once again become the dominate lifestyle and specialty retail concentration in the greater Memphis trade area,” Montesi said. “That was the goal.” According to the company, since 2014, Trademark Property Co. has signed 18 new tenants — 12 new to market — to the center for a total of 57,000 square feet.

http://www.bizjournals.com/memphis/n...ompletion.html

photo Ellen Collier | MBJ

[Johnny Ryall]

New Flights, Lower Fares Highlight Busy 2016 for Memphis Airport
By Patrick Lantrip/ Memphis Daily News

“Our airfares have dropped 6 percent in 2016 alone, or the equivalent of $27 average per round-trip ticket,” Brockman said. Since Delta decided to no longer use Memphis International as a hub, airfares have dropped by more than $150 per ticket. “You’re not going to get lower airfares when you have a hub,” Brockman said. “There is tradeoff for having 91 nonstop destinations, which is what we had. There is a tradeoff for having 300-plus flights a day – and that is high airfares.” Along with the new flights, some airlines have upgraded the size of airplanes used on existing routes, helping to add 9.3 percent of seating capacity during 2016, which is the equivalent of 605 seats a day. For 2017, Brockman expects to see continued growth in passenger numbers, but at a slower rate.

https://www.memphisdailynews.com/new...mphis-airport/

[Johnny Ryall]

Developers of Parkside project buy 55-acre site
Meagan Nichols, Reporter/ Memphis Business Journa

Developers behind the proposed $200 million mixed-use project near Shelby Farms Park are a step closer to construction. The Parkside at Shelby Farms development group closed on its purchase of a roughly 55-acre tract of land on Mullins Station at Whitten Road for $4 million.

http://www.bizjournals.com/memphis/n...ct-buy-55.html

rendering COURTESY SOLOMITO LAND PLANNING

[VSRJ]

^ I strongly dislike everything about that project. I hope it never gets of the ground.

[apokryphon]

Originally Posted by VSRJ

^ I strongly dislike everything about that project. I hope it never gets of the ground.

I'm usually very pro development but the Shelby Farms Project represents great density in a very misdirected location. There is no possibility of mixed-use development or walkability in the vicinity due to the sububrban-style curvilinear streets; thus all excursions will require automobile use. You can't put a well connected street grid in the area because of the single-family homes already built. Transit accessibility is poor; even to simply get to Gtown Pkwy, one must take the 53 downtown first. So the building will be unable to take advantage of transit improvements in the core city over time. Would love to see this project built downtown--or even right on the Poplar Corridor. End rant.

[KingWestMemphis]

Originally Posted by DRG901

Cool list of what's to come.

I really hope Crosstown spurs new development in the area. Also really hope something gets started on One Beale and 100 N Main. Also hopefully some new big announcements.

Anyone have any wishes for 2017?

I hope that One Beale finally breaks ground, that 100 North Main gets renovated, and that a major hotel project comes downtown. It's a stretch, but I also hope that someone gets the ball rolling on redeveloping the Sterick Building.

[HVACMafia]

Originally Posted by KingWestMemphis

I hope that One Beale finally breaks ground, that 100 North Main gets renovated, and that a major hotel project comes downtown. It's a stretch, but I also hope that someone gets the ball rolling on redeveloping the Sterick Building.

Unfortunately any redevelopment of the Sterick Building will not be happening until around 2027-2028 when the land lease expires. It will take DEEP POCKETS and the ROI just isn't there.
The 100 North Main redevelopment won't be happening anytime soon either. Foreclosure issues, anti neglect issues, fire code violations, leins, seismic retrofit issues, concrete spalling issues, a forgotten land lease issue along Main Street and lack of DEEP POCKETS as well as ROI not being there either.

[DRG901]

Originally Posted by HVACMafia

Unfortunately any redevelopment of the Sterick Building will not be happening until around 2027-2028 when the land lease expires. It will take DEEP POCKETS and the ROI just isn't there.
The 100 North Main redevelopment won't be happening anytime soon either. Foreclosure issues, anti neglect issues, fire code violations, leins, seismic retrofit issues, concrete spalling issues, a forgotten land lease issue along Main Street and lack of DEEP POCKETS as well as ROI not being there either.

If that's the case with 100 N Main and we have another (less attractive) Sterick I'd just assume something else be built in it's place.

[Johnny Ryall]

As far as the Sterick Building goes, when the 99-year building lease expires, it is supposed to be returned in some type of satisfactory condition. I've heard investment will legally have to start flowing into it over the next decade by AXA Equitable Life Insurance Co. or whoever owns the lease (probably in some portfolio).

The name of the game right now is not to have it converted into a Ritz Carlton overnight. Reasonable short term aspirations should be aimed towards exterior restoration such as returning it to a fresh coat of white with green roof (some guy from Florida that owned the building lease in the 1980s painted it 2-tone gold & brown) and continued stabilization of the property. It might not even need to be repainted because, apparently, the building can be sandblasted to reveal beautiful stone underneath the paint. Simply install a little bit of upward lighting in the setbacks, the building makes a proud return to the skyline and a nice change of scenery for the immediate neighborhood.

In the long term, I'd like to see the street level reactivated early with a restaurant, FedEx Office, contractor offices, etc. and then have construction staging areas in freight entrances up into the higher floors. I would assume the building would ultimately go "mixed-use" in its redevelopment. Maybe some areas could be made more attractive by removing floor plates (columns intact), introducing mezzanine levels while reducing square footage & easing issues with ductwork & conduit.

Not much of an opinion on 100 N. Main at the moment, just waiting to see how it plays out. These projects can be done with the right interested players. Memphis proved this a few times recently with the Chisca Apartments, Crosstown Concourse, ServiceMaster corporate HQ, Bass Pro Shops @ Memphis Pyramid and a slew of lesser redevelopments. 100 N. Main & the Sterick Building are definitely doable as mixed-use with tax incentives, etc..

[Johnny Ryall]

Bing Maps made a jump about a year into the future (at this view resolution) and updated the Greater Memphis expressway system with the completion of the I-269 loop.
Also, signage is now on I-22 to the southeast and I-555 to the northwest. Kind of wonder why they didn't make the whole directional route "I-22"
connecting through the 269/55 or 240/55 corridors. *Note:This map also includes the Forrest City, AR area (St. Francis Co.) to the west which gave Memphis its first
small CSA designation.

expressway update by JohnnyAaronRyall, on Flickr

Noticed this aerial photo below on the I-269 Wiki that shows the 385 terminus/ I-269 extension under construction (under the word 'Collierville' on the map above
where the Hwy 72 sign is). Yet another huge interchange under construction in the Memphis expressway system right off the heels of opening the massive
I-40/240 junction in East Memphis (I-55/Riverside Drive is next!). Meanwhile, Mississippi continues their work under the largest single contract ever awarded by MsDot.

Wikipedia

[DRG901]

Well Happy New Year!

600 room high rise glass tower hotel next to Convention Center-- not many details at the moment but hopefully all comes through

http://www.commercialappeal.com/stor...otel/96173268/

[MEMFLY]

Originally Posted by drg901

well happy new year!

600 room high rise glass tower hotel next to convention center-- not many details at the moment but hopefully all comes through

http://www.commercialappeal.com/stor...otel/96173268/

omni inboud

[Trevor Birchett]

Looks like it could replace that God-awful Mud Island garage at the dead end of Poplar at Front. This would be great! Now let's get it done.