MEMPHIS | Development News

[Chris Warren]

Strickland Seeks $21.5M to Begin Work on Convention Center, Gateway

Memphis Daily News:

Memphis Mayor Jim Strickland is seeking $21.5 million in immediate funding for pre-construction and early construction work on two projects on Downtown's north end: the long-awaited renovation of the Memphis Convention Center and to begin specific planning, land acquisition and construction for the Bicentennial Gateway project that includes the convention center and the Pinch District area north of it.

Strickland and his administration will take the two funding resolutions – $10 million for the convention center and $11.5 million for the gateway – to Memphis City Council members at a Tuesday, Sept. 5, committee session, citing the use of surplus sales tax funds collected in the Downtown Tourism Development Zone.

Neither item is currently on Tuesday’s council agenda for a vote but could be added during the committee session earlier in the day at City Hall.

The $10 million convention center advance would come from city reserves as well as the TDZ surplus. The administration cites “an aggressive construction timeline, pre-construction cost, including A&E (architecture and engineering), program management, environmental studies, traffic studies, and legal fees” in the resolution.

“Once permanent funding is secured, the administration will reimburse both the TDZ excess funds and the general fund reserves, if used, for the amount of costs that were advanced for pre-construction funding.”

The tentative estimate of the cost of the convention center renovations including a new exterior for the center as well as interior changes has been around $60 million total.

The Bicentennial Gateway Project is centered on the nine-block area between Bass Pro Shops at the Pyramid and St. Jude Children's Research Hospital campus. But it also includes the convention center renovation as well as a new pedestrian bridge from the east side of the Pyramid to Front Street that was demolished when the Pyramid was repurposed as a Bass Pro Shops store.

And the city intends to propose that the state expand the Downtown Tourism Development Zone to include using the sales tax increment it captures on the riverfront and Mud Island River Park as well as “a pedestrian bridge connecting to the southern end of Mud Island to the Riverfront,” according to the resolution.

The TDZ surplus the administration is specifically requesting council approval of for the Gateway project would be $750,000 for architecture and engineering, $4.7 million for land acquisition and $6 million for construction.

https://www.memphisdailynews.com/new...r-and-gateway/

[Wayward Memphian]

Malco finally putting in an Imax.

I hit the daily double on this, The Razorback here in Fayetteville where I live and the Paridiso in East Memphis, blocks from Mom's house

[James Owen]

This is all preliminary talk at the moment as no concrete plans have been settled regarding the long-term future of the Brooks Museum of Art in Midtown.

Memphis Brooks Museum Eyes Relocation Out of Overton Park
Andy Meek
Memphis Daily News

https://www.memphisdailynews.com/new...-overton-park/

The museum’s board has voted to allow the museum’s staff and the board’s long-range planning committee to evaluate locations in Memphis outside of Overton Park as possible homes for the Brooks' permanent collection and future museum facilities.

According to the museum’s leadership – which stressed that any potential relocation would be limited to the city of Memphis, not beyond it – the long-range planning committee would first make a recommendation on the museum’s future. It has a menu of options to consider at the moment that include renovations to the existing property at Overton Park, as well as potentially relocating to a new as-yet-undetermined site in the city.

That committee would take a recommendation to the board’s executive committee, which in turn would make a recommendation to the full board, before the board finally votes on a course of action. All that’s been authorized at this point is for the board to consider a relocation of the museum – which celebrated its 100th anniversary last year – as one option among several.

If Brooks does opt to move from Overton Park to another part of the city, where exact could they go?

[Wayward Memphian]

Here's are some surprising numbers but backs up why the Norwegian CEO has dropped Memphis a few times as a possible destination. It also explains why the that Air Canada flight is running well over 90% full.


This takes into account the recent adds of British and the two Iceland airlines adds in the midwest likeNashville, St. Louis and Cleveland plus Delta adding Indy to Paris. It is just a matter of time folks.

[Wayward Memphian]

If you read the analysis of that chart:
http://www.anna.aero/2017/09/13/kans...comment-161510

Where it compares what might happen on KC should it get BA service. Think about what would happen in Memphis where it is clear that Europeans like visiting. Look how close Memphis is to Airports that have much larger overall passenger numbers Kansas Cuty will go between 12 million 13 million this year and Columbus will have have over 7 million. Memphis will be about 4.5 million. It is feasible that in year two of having a direct flight to Europe that Memphis could be approaching 200,000 direct and indirect European travelers through MEM.

Memphis would need way more hotels downtown around Beale.

Hard Rock Hotel anyone?

[DRG901]

Hotel proposed for Overton Square. I was happy with the Hotel Overton proposal where Ballet Memphis ended up being built.


https://www.bizjournals.com/memphis/...que-hotel.html

[Johnny Ryall]

Canadian Elevator Company Seeks PILOT For Hickory Hill Plant
By Bill Dries/ Memphis Daily News

In its application for the payment-in-lieu-of-taxes application, AVT says it will lease 100,000 square feet at 4949 E. Raines Road. The contract with the unnamed machine manufacturer is “thus helping cement the idea that it is time to copy our successful business plan that we started in 2007 and start AVT Beckett Elevators USA,” according to the PILOT application from the Ontario-based company. The AVT operation would employ 25 people making an average annual base pay of $35,992 – $43,190 with benefits included. The new plant in the leased space would be a $3.5 million capital investment by the company, with $3 million of that being equipment costs.

Also on the EDGE agenda Wednesday is a $110 million bond refinancing proposal for Graceland's recent expansion. "The project will refinance indebtedness incurred to finance the expansion of these activities and finance certain expenses and cost previously incurred herewith," the application by Graceland to EDGE reads. Graceland has opened the new Guest House at Graceland resort-hotel and the Elvis Presley's Memphis entertainment complex since October, both projects totaling $137 million. And Graceland has a $50-million concert venue planned for its 120-acre campus.

https://www.memphisdailynews.com/new...ry-hill-plant/

[Johnny Ryall]

Snapshot: More Midtown Apartments
Memphis Daily News

The former Artisan Hotel is being demolished as part of the $43 million Midtown Market mixed-use project being co-developed by Belz Enterprises at Union Avenue and McLean Boulevard.

https://www.memphisdailynews.com/new...wn-apartments/

photo (Memphis News/Houston Cofield)

[Johnny Ryall]

More coverage...

Loeb Properties Planning $24M Overton Square Hotel
By Patrick Lantrip/ Memphis Daily News

The Memphis-based company and its partners – boutique hotel developer LRC2 Properties and hospitality management company MMI Hotel Group – are seeking a 15-year tax abatement to construct a 100-room boutique hotel at the southwest corner of Cooper Street and Trimble Place, south of Madison Avenue in Midtown Memphis... “Since our company’s involvement in the revitalization of Overton Square, we have heard repeatedly from theatre operators that if there were a hotel at Overton Square, that they could develop a regional theatre district that would attract visitors to the city from a 250-mile radius,” Loeb Properties president Bob Loeb said in his PILOT application. “We have also heard from Rhodes College, CBU and a number of other Midtown instruction that a hotel in Overton Square would be a welcome resource to them.” Plans also call for a rooftop restaurant and structured parking.

https://www.memphisdailynews.com/new...-square-hotel/

(EDGE/Loeb Properties) (Looks like concept, not Overton Square.)


(EDGE/Loeb Properties)

[apokryphon]

Seeing the site location of the proposed hotel in Overton Square has me hoping that a plan of sorts is developed for Union Ave's walkability and perhaps moving away from its auto oriented design. Perhaps something similar to the Walker Ave Streetscape project by U of M? I think businesses would see the benefits of shared parking behind buildings if we'd only try it, freeing each business from having to maintain it's own parking lot.

[DRG901]

Originally Posted by apokryphon

Seeing the site location of the proposed hotel in Overton Square has me hoping that a plan of sorts is developed for Union Ave's walkability and perhaps moving away from its auto oriented design. Perhaps something similar to the Walker Ave Streetscape project by U of M? I think businesses would see the benefits of shared parking behind buildings if we'd only try it, freeing each business from having to maintain it's own parking lot.

I hope so too. Especially the area surrounding the Square. The new building with Chipotle with the parking in the back is at least a step in the right direction. You have to start somewhere I suppose.

[DRG901]

Memphis considers hotel for vacant 100 North Main skyscraper
Ted Evanoff, USA TODAY NETWORK – TennesseePublished 10:00 a.m. CT Sept. 18, 2017

http://www.commercialappeal.com/stor...per/642264001/


This is probably worth taking with a grain of salt. Also, it looks as though the other Convention hotel at Front/Poplar is dead due to the group that wants to "protect the riverfront." I don't know how a high rise would be bad for that spot, considering it's currently the home to that hideous garage. It just makes me think that deal fell through, as it didn't seem to have much merit either way and this is their excuse. And also, 100 N Main isn't exactly connected the convention center, so I don't know how this would be a "convention hotel" but if someone could actually ever pull something off I'd be for it.


"Oswalt said 100 North Main’s renovation could spur new developments and improvements that diminish the sense of a long commute such as hotel-to-convention-hall buses and more retail stores in and around 100 North Main.

Efforts launched last year by Denver hotel consultant Robert Swerdling to build a 600-room convention hotel on city property on North Front apparently have been stalled by objections raised to development on the site by Friends of the Riverfront. The civic group has threatened a lawsuit in support of an early 19th Century deed barring private businesses on what was described in the 1820s as the promenade."

[Wayward Memphian]

Originally Posted by DRG901

Memphis considers hotel for vacant 100 North Main skyscraper
Ted Evanoff, USA TODAY NETWORK – TennesseePublished 10:00 a.m. CT Sept. 18, 2017

http://www.commercialappeal.com/stor...per/642264001/


This is probably worth taking with a grain of salt. Also, it looks as though the other Convention hotel at Front/Poplar is dead due to the group that wants to "protect the riverfront." I don't know how a high rise would be bad for that spot, considering it's | the home to that hideous garage. It just makes me think that deal fell through, as it didn't seem to have much merit either way and this is their excuse. And also, 100 N Main isn't exactly connected the convention center, so I don't know how this would be a "convention hotel" but if someone could actually ever pull something off I'd be for it.


"Oswalt said 100 North Main’s renovation could spur new developments and improvements that diminish the sense of a long commute such as hotel-to-convention-hall buses and more retail stores in and around 100 North Main.

Efforts launched last year by Denver hotel consultant Robert Swerdling to build a 600-room convention hotel on city property on North Front apparently have been stalled by objections raised to development on the site by Friends of the Riverfront. The civic group has threatened a lawsuit in support of an early 19th Century deed barring private businesses on what was described in the 1820s as the promenade."

All the more reason for a new convention center/hotel (s) between Union and Beale. Current convention center sight would make a nice spot for a residential tower to augment St. Jude growth and work force needs.

Oh, and add a new 55,000 roofed stadium to it.

[MEMFLY]

Originally Posted by Johnny Ryall

More coverage...

Loeb Properties Planning $24M Overton Square Hotel
By Patrick Lantrip/ Memphis Daily News



https://www.memphisdailynews.com/new...-square-hotel/

(EDGE/Loeb Properties) (Looks like concept, not Overton Square.)


(EDGE/Loeb Properties)

Those pictures are of The Graduate in Oxford. It's a nice boutique hotel that was built last year.

[Wayward Memphian]

Stumbled across this as part of improvements around Jacksonville's stadium improvements.
Shows how a roof and additional seating could be added to Mud Island. I still think views of the skyline from Mud Island would be important.


Also noticed that Nashville's push for a MLS stadium at the fairgrounds now includes a pitch for Vandy to play football there.

[Johnny Ryall]

Originally Posted by MEMFLY

Those pictures are of The Graduate in Oxford. It's a nice boutique hotel that was built last year.

That's it! I knew I'd seen that image before. I kept thinking regional, but couldn't place it. In hindsight Oxford makes the most sense. The Square is alive.

[DRG901]

I see there's an article on MBJ about the developers of the Tennessee Brewery planning apartments on Madison in Midtown across from Minglewood Hall. I've hoped something would be developed on that lot for years, seems to be perfect for mixed-use. Unfortunately I'm not a subscriber so don't have any more details.

[Huntsvillenative]

https://www.memphisdailynews.com/new...aise-concerns/

Looks like the NBA Grizzlies and their stupid no_compete clause deal that they manipulated the incompetent city officials to agree with just screwed Graceland, Whitehaven and the entire city of Memphis big time. This would have brought unlimited amount of concerts and events to Whitehaven as well as other developments and economic growth. This is another one of those "what could have been" developments that Memphis missed out on and will never get to see happen. Oh well. Remember that next time you go to a Grizzlies game.

[Wayward Memphian]

Originally Posted by Huntsvillenative

https://www.memphisdailynews.com/new...aise-concerns/

Looks like the NBA Grizzlies and their stupid no_compete clause deal that they manipulated the incompetent city officials to agree with just screwed Graceland, Whitehaven and the entire city of Memphis big time. This would have brought unlimited amount of concerts and events to Whitehaven as well as other developments and economic growth. This is another one of those "what could have been" developments that Memphis missed out on and will never get to see happen. Oh well. Remember that next time you go to a Grizzlies game.

Screw being good neighbors, EPE should stick to the original plan. This is beyond ridiculous. Living in NWA and seeing the concerts Tulsa gets over OKC shows how an NBA team in smaller markets hinders booking. The major shows will work and plan around major cities like NYC, LA, Dallas or have a viable alternative within those. But Cities like Memphis will lose out if there's an issue in venue availibilty when it come to tour routing I see this dynamic played out between OKC and Tulsa. And to some extent, between Memphis and Little Rock.

Coldplay has played Tulsa, not Memphis. Roger Waters has played Tulsa twice, not Memphis.

Memphis got Guns and Roses yet? Little Rock and Tulsa have.

Add in additional dates the U of M Tigers eat up and it's even more of an issue than it is for OKC.

Very shortsighted by the Griz management.

[arkitekte]

Originally Posted by Wayward Memphian

Screw being good neighbors, EPE should stick to the original plan. This is beyond ridiculous. Living in NWA and seeing the concerts Tulsa gets over OKC shows how an NBA team in smaller markets hinders booking. The major shows will work and plan around major cities like NYC, LA, Dallas or have a viable alternative within those. But Cities like Memphis will lose out if there's an issue in venue availibilty when it come to tour routing I see this dynamic played out between OKC and Tulsa. And to some extent, between Memphis and Little Rock.

Coldplay has played Tulsa, not Memphis. Roger Waters has played Tulsa twice, not Memphis.

Memphis got Guns and Roses yet? Little Rock and Tulsa have.

Add in additional dates the U of M Tigers eat up and it's even more of an issue than it is for OKC.

Very shortsighted by the Griz management.

I'm sure scheduling has some factor in major tours bypassing Memphis, but Bridgestone in Nashville doesn't have this issue; I believe it was the second busiest arena in the nation last year (at least to the extent that the average Memphis would cry that FEF and the Grizzlies are screwing them over). It's probably more of artists (or their management) just all together excluding the Memphis market from touring.

EPE should just not accept the TIF funding. Problem solved, build your venue and finance it privately. This actually sounds like an excuse to request additional TIF funding.