Tony Randolph

It is frustrating that this city sits at the edge of greatness but cannot solve the crime problem and the lack of vision. Memphis has one of the best locations in the country as far as having the most northernly airport that rarely closes due to weather, major rail junctions and highways, and the Mississippi river. Memphis is well centered in the continental U.S. when the population layout is plotted. There is a reason why FedEx is headquartered here, in addition to the almost endless warehouses and distribution centers. I am hoping that the recent crackdown of juvenile crime is finally being addressed with new detention centers being built. The model of placing delinquents in foster homes and other unsecured placements has been a failure and has boosted the crime rate. I know I sound like I am getting off the subject, but crime, and worse, the perception of crime has a strong bearing on real estate. We need to repopulate our cities with professionals and other middle-class workers. Having these people live in the exurbs has also been a contributor to our 20 year and counting Eastern Oil Wars. Basically, it is easier on the environment to walk to work instead of sitting in traffic.

I can see how 100 N. Main could be converted to hotel rooms better than the Sterick, plus it is a stone throw away from the convention center and it directly on the trolley line. I can see the point for a larger hotel presence in Memphis, but if I was the lead investor in an historic building, I would be interested in amortizing the investment was quickly as possible. Stuart has pointed out the total investment is expected to be around $20,000,000. It would probably take much longer for a ROI on a hotel rather than selling condos.

Does anyone know if the Sheraton fills up during conventions? Also, is there really a shortage of hotel rooms in downtown Memphis? I spent several years working in downtown Memphis, and as I admitted earlier, do not know much about the hotel business in downtown Memphis. One large office building that was converted to hotel rooms that I cannot think of its name is across the street from One Commerce Square, but I have rarely seen it fully occupied. This hotel has the benefit of being a few feet from the trolley. I hope I am not sounding like a broken record, but I think the Sterick investment would amortize more quickly with large condos, some of which could be multiple floors than renting out individual hotel rooms and then having to pay a franchise fee to a hotel corporation. Also, maybe I am wrong, but my take on the Memphis employment market is there is a shortage of people with clean records willing to do low wage hotel work. What I do know about the hotel industry is that it is hard to find a good night auditor.

It is a 3 to 5 block walk from the Sterick to the convention center. This is a pretty dangerous walk at night in Memphis. I am still hoping the building goes condo.

I admittedly know next to nothing about the hotel business. But the Hotel Indigo is next door to the Sterick, and I would recommend that the Sterick principals' study how that property has performed over the past few years, plus the other hotels in downtown Memphis. I have a suspicion that most hotel dwellers in downtown Memphis are tourists, since the real business district in Memphis is on Poplar between east Memphis and Germantown. If we could get a better handle on the crime problem in Memphis, which is one of the worst in the nation, I believe Memphis could become another Atlanta, and it hurts me to say this, another Nashville. This is just my opinion, but I would like to see residences, medical and other professional offices (not everyone can work from home), a high quality grocery store and a bank or two.

I hope Stewart Hicks and his property firm start a YouTube channel ASAP documenting the rehab of the Sterick.

I am pretty sure the underground parking ramp was on the north side of the building.

Harris and Company appear to be squared away. They brought the Hickman Building to fruition fairly quickly. Which I was glad to see since this city has a history of contracting with those that can talk the talk, but never been able to walk the walk. Another positive I see is how well Concourse was done. Hopefully, some of those folks are available and can help with the Sterick.

Maybe they could use sprayed on concreate over foam like is used for A/C condenser support. If not that, maybe plastic or wood. Of course it is none of my business, but I wonder if AXA gave a cash settlement to get out of the headache of holding onto the Sterick Building? This, the tax credits and multiple investors could fund the rehab. Also, Crosstown Concourse appeared to get down quickly after the pieces came together.

I was told the spires and trim had to be removed because of multiple lighting strikes.

My son and I drove by the Sterick Building last week and the American flag was flying on the slanted flag pole. Good to see the ole gal coming back to life.

Forgive the above misspelling, I meant to write Plus instead of please.

There is already the Hotel Indigo right next to the Sterick. Please another hotel a couple of blocks away. I am no expert, but I think we have enough hotel rooms in the area.

Sure would be cool if all of us Sterick fans could have a walk through before the work begins in ernest.

Grocery stores are a tough and competitive business to operate and from an operational standpoint, I can see why there are many food deserts and so few grocery companies in Memphis. Fresh food is highly time sensitive and requires a mass amount of labor to prepare and display. I know, I used to work in a supermarket. Back then, grocery labor was dirt cheap. More expensive labor only adds to the difficulty. Plus, this is Memphis, and the higher-than-average crime rate must be factored into the equation. I can see how it could be tough to run a grocery in the Sterick. I do not know where trucks could back end. I knew several people who worked at Easy Way downtown, and it was hard enough for them to keep stocked. I do not know the status of the low-rise buildings across the street, but maybe one of them could be converted into a grocery.