VSRJ
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Posts posted by VSRJ
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On 4/25/2024 at 4:15 PM, MDC26 said:
Automotive supplier Avancez will build assembly plant near Stanton to support Blue Oval. The plant will employ 501.
And so it begins!
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This will make the drive home from Nashville much more exciting!
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This is great news! I think that is a terrific use of that building.
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Building permit pulled for AC Hotels on Poplar:
QuoteA building permit valued at $10 million for a new-to-market hotel flag has been filed with the Memphis and Shelby County Division of Planning and Development.
Maryland-based Baywood Hotels filed the new construction permit to build a 116-room AC Hotels by Marriott at 6582 Poplar Ave.
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I wonder if that's just for easier access to each floor? I can't imagine they're stripping the entire facade (based on renderings, which of course aren't always accurate).
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Thank you for sharing all these updates!
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That is sharp! What a transformative project for the area and University. Can't wait to see it completed!
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Wow. It's really happening. I know Memphis is capable of pulling off a project of this magnitude (Crosstown), but it's still surreal.
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And let's not rule out the viability of office use (at least partial). I was surprised to learn that One Memphis Place on Jefferson is 98% leased: https://dailymemphian.com/section/businessreal-estate/article/42360/memphis-downtown-office-space-changing
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I'm not at all surprised by this news. The building just doesn't seem like a good fit for multifamily. Hopefully the owner can find a buyer. We really don't need a tower at the front of downtown standing empty.
Multifamily conversion at Downtown skyscraper is now off; owner open to sale
QuoteThe owners of the former Raymond James Tower at 50 N. Front St. are no longer going forward with their plans for a multifamily conversion.
On Feb. 5, the owner's development entity, 50 N. Front Street LLC, withdrew a pair of commercial alteration permits filed with the Memphis and Shelby County Division of Planning and Development. Those original permits, filed in June 2022, indicated that the owners planned to spend more than $37 million to convert most of the building into multifamily units. The permit to convert floors 3 to 11 was valued at $17.82 million, and the one to convert floors 12 through 21 was valued at $19.8 million.
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University of Memphis is planning a new business school building at Central and Patterson. More info here: https://fcbebuilding.memphis.edu/
University of Memphis dean Bobby Garrett on the Fogelman College of Business and Economics' new complex
QuoteIn a few years, if all goes according to plan, a new complex with a distinctive building is set to be a Central Avenue gateway to the University of Memphis.
Right now, when you go down Central Avenue from west to east, it can be difficult to tell when you’ve hit the U of M’s campus. Bobby Garrett, Ph.D., who is the new dean of the U of M's Fogelman College of Business and Economics (FCBE) wants to change that.
“We want this new building to be a symbolic portal to campus,” said Garrett, who became FCBE dean in August. “To be something grand and impressive where people go, ‘What are they doing over there? That looks like a cool building.’ [Then being able to say], ‘That's the University of Memphis business school.’”
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Also, the Orpheum in Memphis seats roughly 2,500 and it seems to get all the big touring shows (although I'm admittedly not well-versed in Broadway productions). Surely 28 fewer seats wouldn't have that big of an impact.
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I do wish it was closer to Memphis, but perhaps this will spur additional big-name developments between the two cities to close or shorten the gaps.
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1 hour ago, smeagolsfree said:
I ask is the Blue Oval project going to benefit Jackson More or Memphis more? This is just a question to throw out to you and get a consensus on. It sits halfway between both cities. Or is it going to create a new boom city? Let's say turning Stanton into the next Spring Hill. I can't say that the GM plant really benefited Nashville that much except create a traffic nightmare south of the city.
I think both will benefit. For many, I assume it will just come down to preference between a "large-" and small/medium-sized city. In Memphis, the eastern suburbs likely will be the big winners — Lakeland, Arlington, Collierville, Bartlett to an extent, etc. Lakeland already has a billboard welcoming Blue Oval. I think those suburbs will be vying for the influx of workers.
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7 hours ago, Argo said:
Yikes! It looks like I'm under siege. I beta explain.
I'm just stating the consensus of this forum. We on this forum hate bauxeses and we hates brand new modern glaus buildings. We just do. This development just gave us more of the things we hates.
I admire your commitment to this bit. It must be exhausting, but you persevere.
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Good news!
FAA sends MEM $16M for airport improvements
QuoteThe U.S. Department of Transportation’s Federal Aviation Administration will award $16.1 million to Memphis International Airport as part of the fiscal year 2024 Airport Infrastructure Grants.
The FAA awarded$243.7 million to airports in 37 states. The funds can be used to modernize infrastructure, improve runway safety and create jobs.
In Memphis, the grant will fund part of the terminal modernization program, which involves rebuilding the drive leading to the terminal, enlarging and updating the ticketing and baggage areas, expanding the security checkpoint, upgrading security and adding seismic enhancements.
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Small update:
100 N. Main developers apply for 30-year PILOT for $282M redevelopment
QuoteThe development group behind 100 N. Main is seeking a 30-year PILOT (payment-in-lieu-of-taxes) and a 5% Tourism Development Zone (TDZ) surcharge for the now $282 million revitalization of the tallest tower in Memphis.
New filings with the Center City Revenue Finance Corp. (CCRFC), an affiliate board of the Downtown Memphis Commission (DMC), give the latest and most detailed look into one of the most significant development projects in Memphis.
The makeup of the development group, the plan, and the costs associated with 100 N. Main have all changed since the developers were selected in January 2022, but, now with an application filed for incentives, a larger development agreement could be close. The staff report details that the developers hope to close on the property in mere months — sometime around mid-2024 — with work getting underway not long after.
The full renovation of 100 N. Main is anticipated to take 30 months, meaning the 793,000 square feet of buildable area would deliver in early 2027.
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Is it just me (because I pass by it every day) or is this moving at a slower pace than some of the other towers under construction?
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12 hours ago, Sean blackdog said:
Today this morning from NBJ…….
Oof. That is...not ideal.
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That design is...interesting. Not sure what to think. Maybe it will look better in real life.
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2 hours ago, Argo said:An extremely vague and non-detailed with no specifics reply. Are you saying "exactly" because you think those buildings are glass bauchxises? Or are you saying "exactly" because you're saying those buildings go against the glass bauchxises trend you say is happening?
If the former, then how did you come to the conclusion those buildings are glass bauchxises? What are you looking at? How did you come to that conclusion?
If the latter, then doesn't the fact those buildings were built contradict your supposition that there is a glass bauchxises trend. Wouldn't that be an erroneous supposition on your part?
Because you missed the point I was trying to make — there's a general trend in the industry toward predominantly glass designs, and I don't think anyone can argue that. Of course there are exceptions in Nashville. But given your post history, engaging further would be a fruitless endeavor.
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2 hours ago, Argo said:
You mean like Cambria, Skyhouse, Modera McGavock, JW Marriott, Albion, both Pinnacles.
Exactly.
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This might be a hot take (and unlikely to happen), but I'd be very ok if the glass box trend took a break for a while. I'm excited to see what this will look like.
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I braved the cold and took my new drone for a flight above a still-frozen Nashville:
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Memphis Riverfront and Mud Island
in Memphis
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I wish they'd start from scratch and build a venue similar to Ascend Amphitheater in Nashville. But anything will be an improvement - like Mud Island as a whole, the amphitheater is criminally underutilized.