MEMPHIS | Development News

[arkitekte]

Originally Posted by BnaBreaker

According to that R&B Hall of Fame's facebook page it has apparently been narrowed down to Memphis, Detroit, and Birmingham...either Memphis or Detroit would be more than deserving...not sure I see the Birmingham connection.

Hopefully Memphis will get it. That would be a nice addition to Beale and downtown in general

Also, I agree...the Horizon Tower is really rough looking. Not to mention at street level it's a disaster.

These types of developments always get on my nerves. It's like the developer is trying to give the residents the "big city feel" with suburban access. There's nothing wrong with that if in your solution you address the street and walkability to accommodate the urban fabric while reducing the amount of time it takes someone to park and get to their unit, but the Horizon is a disaster. Everything about it sucks. Everything.

Whoever above mentioned that it reminded them of an a condo tower on the beach was right on point.

[James Owen]

Originally Posted by BnaBreaker

According to that R&B Hall of Fame's facebook page it has apparently been narrowed down to Memphis, Detroit, and Birmingham...either Memphis or Detroit would be more than deserving...not sure I see the Birmingham connection.

I don't see the connection between Birmingham and R&B music either.

Detroit has a huge advantage working in their favor on this one since it was the home of Motown Records, which has more historic brand value than we have with Stax. Unless we have the people who are willing to lobby the expletive out of making this possible in our city, we will only get passed over again like when Cleveland was chosen over Memphis for the Rock & Roll Hall of Fame. That's just my two cents.

[arkitekte]

Originally Posted by James Owen

Detroit has a huge advantage working in their favor on this one since it was the home of Motown Records, which has more historic brand value than we have with Stax. Unless we have the people who are willing to lobby the expletive out of making this possible in our city, we will only get passed over again like when Cleveland was chosen over Memphis for the Rock & Roll Hall of Fame. That's just my two cents.

That's my concern as well. I'm afraid that nothing proactive will be done until it's too late and then we'll hear the usual complaining and have numerous "Why I Chose Memphis" articles being pimped by city officials and the media. If there's any lobbying that will land this here (and I hope it does), then it will be from private investors.

[Chris Warren]

Originally Posted by James Owen

Detroit has a huge advantage working in their favor on this one since it was the home of Motown Records, which has more historic brand value than we have with Stax. Unless we have the people who are willing to lobby the expletive out of making this possible in our city, we will only get passed over again like when Cleveland was chosen over Memphis for the Rock & Roll Hall of Fame. That's just my two cents.

While very true Memphis does have a bigger music scene than Detroit as in people who come to the city for: Graceland, Beale Street, Beale Street Music Festival, Sun Studio, Stax Museum, and is known Nationally as the home of blues and birthplace of Rock n Roll.


But, I have written a letter telling the mayor to send a support letter and plan to give it to either the Mayor or his wife since they go to my church.

[DoomJ]

So in other news, I was heading downtown last night with some friends and I about had a heart attack when I noticed there were lights on in the Sterick Building. Some southern facing windows on the top 3-4 floors and a couple eastern facing windows near the top as well. What's happening?

[arkitekte]

Originally Posted by DoomJ

So in other news, I was heading downtown last night with some friends and I about had a heart attack when I noticed there were lights on in the Sterick Building. Some southern facing windows on the top 3-4 floors and a couple eastern facing windows near the top as well. What's happening?

Not exactly sure, but it's been under the process of being weatherized for the past year and a half or so. I don't know if that's been completed or not, but it could have been something in relation to that.

Someone also might have pulled a permit for something media related in there (music video).

[DoomJ]

Originally Posted by arkitekte

Not exactly sure, but it's been under the process of being weatherized for the past year and a half or so. I don't know if that's been completed or not, but it could have been something in relation to that.

Someone also might have pulled a permit for something media related in there (music video).

Cool. It was fun to see light in an otherwise dark place.

[arkitekte]

Originally Posted by DoomJ

Cool. It was fun to see light in an otherwise dark place.

No doubt. I believe that 2015 is the year that the building itself changes ownership, so that could also have something to do with that. I'm not 100%, but I'll ask a friend if she knows anything about lights being on in there.

[HVACMafia]

Unfortunately the ownership handoff is still many years away, 2028 to be exact.
The lights that you saw are actually reflections, I can assure you that there is no power above the first floor.
The complexity of the ground lease has and will continue to thwart any redevelopment plans for this building.

[arkitekte]

Originally Posted by HVACMafia

Unfortunately the ownership handoff is still many years away, 2028 to be exact.
The lights that you saw are actually reflections, I can assure you that there is no power above the first floor.
The complexity of the ground lease has and will continue to thwart any redevelopment plans for this building.

Thanks for the clear up! Welcome to the forum.

[DoomJ]

Originally Posted by HVACMafia

Unfortunately the ownership handoff is still many years away, 2028 to be exact.
The lights that you saw are actually reflections, I can assure you that there is no power above the first floor.
The complexity of the ground lease has and will continue to thwart any redevelopment plans for this building.

Ah, that sucks. Thanks for the info though, and again, welcome!

[VSRJ]

Originally Posted by HVACMafia

Unfortunately the ownership handoff is still many years away, 2028 to be exact.
The lights that you saw are actually reflections, I can assure you that there is no power above the first floor.
The complexity of the ground lease has and will continue to thwart any redevelopment plans for this building.

Welcome!

Can anyone shed some light (pun intended) on this messy ownership situation? Can the two entities work together so that the building isn't in its current state for another 10+ years? At what point does the building become a public nuisance?

[kingchef]

the way i see it, the situation at the sterrick building is a perfect example of what the administration of a city, its' leadership, etc. should constantly be monitoring, make sure violations are corrected, impose fines, and see that progressive disciplinary actions continue until the problem is eliminated. that might very well take people w/ city management degrees, people w legal degrees, and city administrative degrees some technical wrangling, the result should be a well written law to be used by the city-county gov. to have these kinds of laws, everyone is subject to the same treatment. the community benefits, the owners, and the people pushed along by the laws.

a second advantage of this type of house cleaning would be the revenue brought into the government. we would all be much better off, should this law and similar ones, whifch might follow.

[XchillX]

Can someone upload a pic or two of the Sterrick Building lit up(if its still being lit)?

[HVACMafia]

Thank You All for the warm Welcome.
At the moment the only thing that both sides CAN agree on is that the Sterrick Building is located in Shelby County. As I mentioned, the land lease is very unique in its terms and favors the land ownership group. The current building owner assumed ownership through foreclosure many years ago and due to the relative short remainder of the land lease, the phone has not been ringing off the hook with offers to redevelop a building that you may not own in 14 years when the lease comes to term. The land owners do not want to assume ownership of a building that is not operable and faces environmental and structural issues.

Should the City have gotten involved ? Yes, many years ago but they did not and likely will not. Memphis is full of lender owned properties that are distressed. The Sterrick should have been addressed in the 1980's, the storm clouds are gathering over the 100 N Main as we speak. These are iconic pieces of Memphis and are sadly ignored.

As far as pictures of the Sterrick when it was still lighted, the latest photo that I know of is 1984. Again, as I mentioned earlier, there is no electricity above the ground floor and any appearance of lighting is actually reflections.

[arkitekte]

Originally Posted by HVACMafia

Should the City have gotten involved ? Yes, many years ago but they did not and likely will not. Memphis is full of lender owned properties that are distressed. The Sterrick should have been addressed in the 1980's, the storm clouds are gathering over the 100 N Main as we speak. These are iconic pieces of Memphis and are sadly ignored.

My thoughts exactly. When it comes to 100 N. Main, I personally feel that the City should get involved, but at the same time I understand why they can't (and maybe shouldn't) become financially involved, at least up front. I think appropriate tax incentives or possibly a tax freeze should be applied if the tower is redeveloped.

The fraud proposal (I'm being sarcastic, but that's a mess that's approaching Sterick proportions) that we were all pretty excited about a year or so ago was actually a well put together plan. I personally think it was a little heavy on the residential side and that Class B office space would somewhat work out there, but that ship has sailed, at least IMO.

As we know aging commercial properties like this are tricky to redevelop, especially when a company can find other office space that's more convenient for its employees somewhere that's more central to the city. If you propose office space you have to deal with existing conditions such as floor height and seismic concerns and then once you prepare to develop it you have to charge so much per sq ft that it's hard to compete with newer office space. For residential you could roll with apartments which banks are generally more willing to finance, but is there a need for 300+ units there and what will persuade someone to live there rather than Harbor Town or South Main. The hotel was the best part of this and I honestly think it would work there, but the demand for room nights in Memphis is also another concern.

[HVACMafia]

Originally Posted by arkitekte

My thoughts exactly. When it comes to 100 N. Main, I personally feel that the City should get involved, but at the same time I understand why they can't (and maybe shouldn't) become financially involved, at least up front. I think appropriate tax incentives or possibly a tax freeze should be applied if the tower is redeveloped.

The fraud proposal (I'm being sarcastic, but that's a mess that's approaching Sterick proportions) that we were all pretty excited about a year or so ago was actually a well put together plan. I personally think it was a little heavy on the residential side and that Class B office space would somewhat work out there, but that ship has sailed, at least IMO.

As we know aging commercial properties like this are tricky to redevelop, especially when a company can find other office space that's more convenient for its employees somewhere that's more central to the city. If you propose office space you have to deal with existing conditions such as floor height and seismic concerns and then once you prepare to develop it you have to charge so much per sq ft that it's hard to compete with newer office space. For residential you could roll with apartments which banks are generally more willing to finance, but is there a need for 300+ units there and what will persuade someone to live there rather than Harbor Town or South Main. The hotel was the best part of this and I honestly think it would work there, but the demand for room nights in Memphis is also another concern.

Quoted for accuracy.

[VSRJ]

Originally Posted by arkitekte

My thoughts exactly. When it comes to 100 N. Main, I personally feel that the City should get involved, but at the same time I understand why they can't (and maybe shouldn't) become financially involved, at least up front. I think appropriate tax incentives or possibly a tax freeze should be applied if the tower is redeveloped.

The fraud proposal (I'm being sarcastic, but that's a mess that's approaching Sterick proportions) that we were all pretty excited about a year or so ago was actually a well put together plan. I personally think it was a little heavy on the residential side and that Class B office space would somewhat work out there, but that ship has sailed, at least IMO.

As we know aging commercial properties like this are tricky to redevelop, especially when a company can find other office space that's more convenient for its employees somewhere that's more central to the city. If you propose office space you have to deal with existing conditions such as floor height and seismic concerns and then once you prepare to develop it you have to charge so much per sq ft that it's hard to compete with newer office space. For residential you could roll with apartments which banks are generally more willing to finance, but is there a need for 300+ units there and what will persuade someone to live there rather than Harbor Town or South Main. The hotel was the best part of this and I honestly think it would work there, but the demand for room nights in Memphis is also another concern.

But isn't there a need for hotel rooms in Memphis? I continually hear how we don't have enough rooms to host major conferences and conventions, yet hotel projects (aside from Graceland) seem to be few and far between.

[arkitekte]

Originally Posted by VSRJ

But isn't there a need for hotel rooms in Memphis? I continually hear how we don't have enough rooms to host major conferences and conventions, yet hotel projects (aside from Graceland) seem to be few and far between.

Yes, there is, but it goes back to the whole "which comes first deal". Since we don't have new or adequate convention space developers look and see that the only constant sell for hotel rooms is tourism. If they did build a hotel there's no guarantee that they'd actually begin filling those rooms every night without something new downtown that constantly would bring people each week.

[zookeeper]

Now about that PYRAMID OPENING..........

Any news? December is not that far away.