MEMPHIS | Development News

[VSRJ]

I love Memphis. With all of my heart. But its slow growth and seemingly endless urban development delays are so frustrating.

[Chris Warren]

I Can't Resist

https://www.commercialappeal.com/sto...eed/607240002/

AutoZone will renovate two empty brick buildings at 104 and 110 S. Front St. into offices able to contain about 300 employees, company spokesman Ray Pohlman said.The Memphis retail chain, which employs about 1,500 people in the 123 S. Front headquarters, is expanding into buildings put up side by side in 1880 and once home to Allenberg Cotton Co. and C.W. Hussey & Co.

One Beale construction could begin by December under a plan that calls for an eight-story apartment building, nine-story luxury hotel and 25-story office tower containing at least 200,000 square feet. The 5.5-acre site faces South Front a block from AutoZone and would include a rooftop restaurant overlooking the Mississippi River waterfront.

Townhouse, a New York investor, would turn the empty 100 North Main skyscraper into apartments and a 600-room luxury hotel serving the Memphis Cook Convention Center. Next door, new office towers would stand atop a new garage, reach 25 stories in height including the garage and hold 500,000 square feet of office space.

Low rental rates on Downtown property have discouraged lenders from making construction loans for new buildings, retarding growth in the central core. “We believe One Beale will help reset the market in respect to real estate rates and allow new construction to occur,” Carlisle said.

Could has a different meaning in this city.

[DRG901]

Originally Posted by Chris Warren

I Can't Resist

https://www.commercialappeal.com/sto...eed/607240002/



Could has a different meaning in this city.

"One Beale construction could begin by December under a plan that calls for an eight-story apartment building, nine-story luxury hotel and 25-story office tower containing at least 200,000 square feet. The 5.5-acre site faces South Front a block from AutoZone and would include a rooftop restaurant overlooking the Mississippi River waterfront"



8 story apartments and 9 story hotel? If this "could" get started in December I guess that's progress. But geez, if this is what it's going to be go ahead and re-brand this and take the "skyline changing" stuff out of it.

[Wayward Memphian]

Originally Posted by DRG901

"One Beale construction could begin by December under a plan that calls for an eight-story apartment building, nine-story luxury hotel and 25-story office tower containing at least 200,000 square feet. The 5.5-acre site faces South Front a block from AutoZone and would include a rooftop restaurant overlooking the Mississippi River waterfront"




8 story apartments and 9 story hotel? If this "could" get started in December I guess that's progress. But geez, if this is what it's going to be go ahead and re-brand this and take the "skyline changing" stuff out of it.

Is that one building for a total of 17 stories? That would be closer to the renderings we have seen. Maybe they have ran into some foundational issues that makes it more cost effective to split the Hotel/Apts in to two smaller buildings?


Anyhoo, Airport service news....seems Vacation Express is using a 180 seater for Cancun this summer. Wonder when someone like WN goes man they fill up a plane to Cancun on the reg, maybe we should fly that?

It appears both Delta and United will increase NYC frequency come the Fall. MEM has been super slow in putting out it's monthly stats so far this year but they have been up over 6% for the year so far. March and AprIil are missing though.

[DRG901]

[QUOTE=Wayward Memphian;8190343]Is that one building for a total of 17 stories? That would be closer to the renderings we have seen. Maybe they have ran into some foundational issues that makes it more cost effective to split the Hotel/Apts in to two smaller buildings?


That may make sense, otherwise I have trouble believing the only real tall building would be office which they originally didn't plan on having. I'm just tired of being teased for all these years, ha. Every time I give up hope something new comes out with some kind of "revised" plan.

[DRG901]

Stumbled across this article about 100 N Main.

https://www.cpexecutive.com/post/thm...ng-in-memphis/

THM Nabs Tallest Office Building in Memphis-Scott Baltic/CPE

"THM stated that it might convert the building, which has been vacant for four years, into a 600-key luxury hotel, along with 110 apartments, a 7,500-square-foot lobby, two restaurants, a spa, nearly 75,000 square feet of ballroom space and 20,000 square feet of retail space. But that’s just part of a much larger project, one currently estimated to be worth upwards of $400 million."

"Why redevelop an office building for other uses while constructing two office buildings nearby? “Slab heights at 100 N. Main are not suitable for Class A office space,” Maidman told CPE. She added that the final decisions on which buildings will be used for which purpose have not yet been made, but that “Negotiations and planning begin this week.” One proposed name for the project, according to Maidman, is The Loews Convention Center Hotel and Downtown Memphis Gateway."

[Wayward Memphian]

Frontier is expanding in Memphis.

They are adding San Antonio come OCT


Frontier's parent company has hundreds of Airbus A320s on order but they aren't due to start arriving till two years from now. They are, however, taking a page from Southwest and starting to connect the dots. I wonder if this SAY add continues from Memphis to Philly to augment the loads. They put Tulsa in between DEN and SAT to give them another connection from DEN to SAT with a no plane change stop. They are blocking an 1hr between landing and taking off at the intermediary airport. A bit slower than Southwes but a no plane change non the less.

If this is successful Mem could see quite a few adds from Frontier as the augment load factors this way. Seems they are shooting for 80 to 100 dollars each way for nonstops and 130 to 180 each way for connections
They are growing CVG and RDU. I could see a SAT-MEM-RDU-BOS route staying relatively full between the legs.

[Wayward Memphian]

Originally Posted by Johnny Ryall

Nucor Plans $240M Steel Expansion in Arkansas
– The Associated Press



https://www.memphisdailynews.com/new...kansas/#130196

Another add on to the growth up there:

https://talkbusiness.net/2018/05/cal...us-at-hickman/

[Chris Warren]

Does anybody know whether Service Master is still installing marquee boards or not?

It would be such a nice addition to the Downtown Area and thought they would've installed them before they moved in. However, it has been several weeks since they moved in and none of the boards are up nor does it appear like they are preparing for them.

[DRG901]

New One Beale plans detail 'four separate and distinct components'/ Michelle Corbet
– Reporter, Memphis Business Journal /May 23, 2018


"In the new documents, the plans describe "four separate and distinct components" built on the wider footprint after the addition of Ellis Machine Shops.

One Beale's "revised scope" utilizes a site that "more than doubled in area and now comprises 5.5 acres."

"Phase one would have a budget of $111 million and include:
▪Construction of a seven-story, 201-key hotel on the corner of Beale and Front streets, with meeting space and ground-floor retail/restaurant space

▪Construction of a six-story apartment building with 227 units, 10,000 square feet of Class A office space and 7,000 square feet of retail/restaurant space, with a 490-space parking garage, on the corner of Wagner and Tennessee streets

▪Redevelopment of the former Ellis Machine Shops property for future commercial use"



https://www.bizjournals.com/memphis/...arate-and.html

[DRG901]

Apartments, retail part of $8M project south of Loflin Yard --Jacob Steimer
– Reporter, Memphis Business Journal/May 23, 2018,

"The developers recently submitted an application to the Center City Revenue Finance Corp. (CCRFC) for a 15-year tax break for an $8 million mixed-use project at 27 W. Carolina Ave. The project would include 57 apartments and — in a departure from most of the nearby apartment buildings — 8,000 square feet of ground-floor retail, according to the application"


https://www.bizjournals.com/memphis/...-south-of.html

[TheKernel91]

Originally Posted by DRG901

New One Beale plans detail 'four separate and distinct components'/ Michelle Corbet
– Reporter, Memphis Business Journal /May 23, 2018


"In the new documents, the plans describe "four separate and distinct components" built on the wider footprint after the addition of Ellis Machine Shops.

One Beale's "revised scope" utilizes a site that "more than doubled in area and now comprises 5.5 acres."

"Phase one would have a budget of $111 million and include:
▪Construction of a seven-story, 201-key hotel on the corner of Beale and Front streets, with meeting space and ground-floor retail/restaurant space

▪Construction of a six-story apartment building with 227 units, 10,000 square feet of Class A office space and 7,000 square feet of retail/restaurant space, with a 490-space parking garage, on the corner of Wagner and Tennessee streets

▪Redevelopment of the former Ellis Machine Shops property for future commercial use"



https://www.bizjournals.com/memphis/...arate-and.html

My guess is that this is no longer a "skyline changing project".... just nice infill of low-mid rise buildings

New renderings will be available soon I suspect.

[TheKernel91]

Originally Posted by DRG901

Apartments, retail part of $8M project south of Loflin Yard --Jacob Steimer
– Reporter, Memphis Business Journal/May 23, 2018,

"The developers recently submitted an application to the Center City Revenue Finance Corp. (CCRFC) for a 15-year tax break for an $8 million mixed-use project at 27 W. Carolina Ave. The project would include 57 apartments and — in a departure from most of the nearby apartment buildings — 8,000 square feet of ground-floor retail, according to the application"


https://www.bizjournals.com/memphis/...-south-of.html

Renderings for South End area:

[Chris Warren]

[Johnny Ryall]

Tunica relaunching flights to Atlanta, Charlotte, Orlando and Tampa/St. Pete
By Elle Perry – Digital Producer, Memphis Business Journal

"The Tunica Airport is an easy drive from anywhere within the Memphis metro area and our free parking will provide our outbound customers with an economical travel option to these four desirable locations.”

https://www.bizjournals.com/memphis/...charlotte.html

[Johnny Ryall]

New developer steps in to revive boutique hotel project
Michael Waddell | High Ground News

After sitting dormant for nearly a year, a mixed-use project going in at the former home of the Memphis College of Art's Nesin Graduate School is being jumpstarted by a new development entity. Arrive Hotels & Restaurants, operating as South Main Hotel LLC, will convert the buildings at 477 S. Main Street and 484 Front Street into 62-room hotel with two full-service restaurants.

http://www.highgroundnews.com/devnew...elProject.aspx

photo High Ground News

[Johnny Ryall]

$210M South City construction delayed but now underway
Michael Waddell | High Ground News

Now both Phase I and Phase II will be built out at the same time. The city closed on funding for Phase I in March and the goal is to close on Phase II by June. The funding for each phase has been secured from the City and Federal government, but the development team must apply for and secure tax credits through THDA to fund each phase annually. Overall, the project will be built in six phases of construction consisting of approximately 110 to 120 units apiece between now and 2022. Of the 712 total units, 480 will be placement units for public housing, The city’s Housing and Community Development department is partnering with Community Capital on the potential adaptive reuse of nearby school facilities like Martin Luther King Transitional Center and Georgia Avenue Elementary School to potentially serve as mixed-use facilities. “We as a team have gotten options to acquire both [schools],” said Young. “Both of those are projects that we are looking to identify uses for. With Georgia Elementary, our idea is to locate Girls Inc., which has already expressed interest in having a presence in that facility, and we’re looking at having an early childhood center in one of the buildings." Plans are still in process for MLK Transitional School. “We believe that there are opportunities for commercial or nonprofit spaces on lower floors, with offices or residential units on the upper floors,” said Young.

http://www.highgroundnews.com/featur...fNextYear.aspx

photo High Ground News

[Johnny Ryall]

UTHSC opens $40M patient simulator center
Michael Waddell | High Ground News

The three-story, 45,000-square-foot building at 26 South Dunlap Street will be used for education, research, and professional development of enhanced clinical skills. “There are very few stand-alone buildings that are dedicated to health care simulation in the country, so this is one of only a handful and the only one in Tennessee,” said CHIPS Executive Director Dr. Chad Epps. The new center will allow students from UTHSC’s six colleges – Dentistry, Graduate Health Sciences, Health Professions, Nursing, Medicine, and Pharmacy – to train together in simulation settings to develop their skills in delivering team-based health care.

http://www.highgroundnews.com/devnew...OpenCHIPS.aspx

photo High Ground News

[Johnny Ryall]

Strong growth leads LEO Events to renovate Edge District buildings
Michael Waddell | High Ground News

A former automobile service facility in the Edge District is getting a new life as office space as rapidly growing LEO Events is in the process of renovating the buildings at 407 and 411 Monroe Avenue to take over as its new corporate headquarters by the end of the year. LEO partners Cindy and Kevin Brewer and Kent Underwood purchased the parcels (under the River Hawk Properties, LLC moniker), which sit close to the proposed Wonder Bread Bakery factory redevelopment... The two buildings (totaling 17,000 square feet) will be joined by an interior hallway connector, allowing LEO to occupy the entire 10,000 square feet on the ground floor. The remaining 7,000 square feet will be leasable office space.

http://www.highgroundnews.com/featur...Buildings.aspx

images High Ground News

[Johnny Ryall]

Main Street trolleys hit the tracks again
Cole Bradley | High Ground News

With the Main Street trolleys back in action, the next step is repairing the Riverside Loop followed by the Madison Avenue tracks. The system will be fully launched by early 2020. Commissioner Schroer said that before the trolleys went offline, they were leading in country in increases to ridership, and he’s looking forward to seeing those big numbers again.

http://www.highgroundnews.com/featur...lleysOpen.aspx

photo (Shelda Edwards)