jmduke
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Posts posted by jmduke
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MBJ reports the Grade Hotel project on Front fell victim to the credit crunch and will be reconfigured as an apartment project with commercial bays on ground level. Interesting quote from Regions Bank about condos being on their moratorium list for financing. They think the cash flow and return on investment are low. Not sure whether that's a problem specific to the sluggish downtown market or a nationwide issue...maybe a little of both.
http://memphis.bizjournals.com/memphis/sto...6293200^1728839
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Trading Stromile to anyone for any draft picks or cash works for me. He and some of the other dead weight need out of here. http://www.commercialappeal.com/news/2008/...heats-up-again/
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Right now, the financial obligation of the Grizzlies is quite substantial if they move. I recall the franchise had to pay a large amount of money to the city/county if they moved in the first few years after relocating from Vancouver and the obligation is a declining scale out to 20 to 25 years. I don't think Heisley is looking to take the financial and PR hit from selling to the first bidder. I think the team is still a work in progress and a return to the playoffs is likely in the next 2-3 years. From there, attendance and sponsorships will rise.
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I'm a little surprised this thread has been so quiet given the success of the Tigers and the struggles of the Grizzlies. While the Tigers aren't "my team," it's great to see them featured so prominently in national media and also see the strong local support for the team.
As for the Grizz, the lack of disgust about their current situation is a concern. Back in the "good old days" of the 2005-06 season when they had just been swept out of the playoffs, the vibe was not good because of the sweep, but at least the locals cared enough to gripe and complain loudly about their team (think Red Sox fans during a down year...not many of them lately). Now with this poor start, few people seem to care and game attendance backs that up.
Finally, maybe I have been on the road too much lately and missed the discussion in the local media, but was there any controversy generated by the Sports Illustrated Year In Review issue article about the NBA, specifically their predictions for 2008? On page 58, their predictions are that a last-minute deal will keep the Sonics in Seattle, and strong All-Star weekend will help the Hornets in New Orleans, but "the summer will find the Grizzlies on the move out of Memphis." Did the local media dismiss this statement as idle chatter (which experts in 2001 thought the team was coming here?) or does SI know something about Heisley's intentions that we don't?
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CNN Money gives credit to South Main as a desirable retirement destination: http://money.cnn.com/galleries/2007/moneym...oneymag/24.html
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Anyone have any news/info about these two projects just north of Union/Front: Grade Hotel and 52 South Front? Will they be linked or are they separate?
Grade Hotel: http://memphis.bizjournals.com/memphis/sto...53600%5E1487015
52 South Front: http://www.bizjournals.com/memphis/stories.../04/story2.html
Archimania site (see evolving): http://www.archimania.com/
Rendering:
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Old WDIA building at Main/Union will be getting some TLC according to the CA. It's good to see this renovation in such a prominent part of downtown. http://www.commercialappeal.com/mca/busine...5663004,00.html
Downtown Memphis News & Developments (CBD, South Main, Riverfront, Medical District, The Edge, Uptown)
in Memphis
Posted
The July 6th Daily News had an article detailing the redevelopment along the Poplar corridor from the Medical Center into Downtown: http://www.memphisdailynews.com/editorial/...e.aspx?id=43483