Downtown Memphis News & Developments (CBD, South Main, Riverfront, Medical District, The Edge, Uptown)

[MDC26]

The Resident at 757 Court Ave will have 2400 sqft ground commercial and 45 apartment units. 
https://www.bizjournals.com/memphis/news/2023/12/04/developers-infill-project-modern-medical-district.html

[MDC26]

BCBS adding sign to top of Commonwealth building. Are they moving out of their current building and downsizing to Commonwealth building? Also, MLGW is hitting pause on move to East Memphis at this time  

https://dailymemphian.com/section/neighborhoodsdowntown/article/40336/memphis-commonwealth-building-rooftop-sign

[MDC26]

Dream Hotel is seeking 9-month extension. Said it’s not for financing, but for permitting delays - need Shelby County to approve abatement permit before demo can be approved. Need demo to be completed before work permit can be obtained. 
https://www.bizjournals.com/memphis/news/2023/12/08/dream-hotel-extension-permit-south-main-renovation.html

[Memphisborn]

On 12/10/2023 at 12:22 AM, MDC26 said:

Dream Hotel is seeking 9-month extension. Said it’s not for financing, but for permitting delays - need Shelby County to approve abatement permit before demo can be approved. Need demo to be completed before work permit can be obtained. 
https://www.bizjournals.com/memphis/news/2023/12/08/dream-hotel-extension-permit-south-main-renovation.html

Hope this project moves forward it’s been in the making for a while. Fingers crossed it gets approved 

[MDC26]

1 hour ago, Memphisborn said:

Hope this project moves forward it’s been in the making for a while. Fingers crossed it gets approved 

My worry is not that it won't get approved, but rather if the developer not being able to get financing/funding.  

This should be a big test for Intrator.  He's gotten three smaller projects done, but this one is much larger, and if he can get this one done and make it successful, that gives more hope for anything becoming of his Pinch project.  

[TheKernel91]

2 hours ago, MDC26 said:

My worry is not that it won't get approved, but rather if the developer not being able to get financing/funding.  

This should be a big test for Intrator.  He's gotten three smaller projects done, but this one is much larger, and if he can get this one done and make it successful, that gives more hope for anything becoming of his Pinch project.  

Yeah, I was just wondering about the Pinch project. I think some article from the beginning of this year when he filed for an extension, or permit for the Pinch, he mentioned something about the end of 2023 to start the construction work on it. I need to find the article.

[MDC26]

19 minutes ago, TheKernel91 said:

Yeah, I was just wondering about the Pinch project. I think some article from the beginning of this year when he filed for an extension, or permit for the Pinch, he mentioned something about the end of 2023 to start the construction work on it. I need to find the article.

Who knows if that will ever happen.  I used to get Facebook ads about investing in that project.  He's also got the new construction infil project in South Main and the rennovation existing with infil new construction on S Front next to Gus' projects planned. 

[JTM1]

On 12/5/2023 at 7:12 PM, MDC26 said:

The Resident at 757 Court Ave will have 2400 sqft ground commercial and 45 apartment units. 
https://www.bizjournals.com/memphis/news/2023/12/04/developers-infill-project-modern-medical-district.html

 

On 12/5/2023 at 7:12 PM, MDC26 said:

The Resident at 757 Court Ave will have 2400 sqft ground commercial and 45 apartment units. 
https://www.bizjournals.com/memphis/news/2023/12/04/developers-infill-project-modern-medical-district.html

I am not sold on the design. 

[JTM1]

On 12/7/2023 at 10:29 PM, MDC26 said:

BCBS adding sign to top of Commonwealth building. Are they moving out of their current building and downsizing to Commonwealth building? Also, MLGW is hitting pause on move to East Memphis at this time  

https://dailymemphian.com/section/neighborhoodsdowntown/article/40336/memphis-commonwealth-building-rooftop-sign

The way the MBJ is reporting, they are just putting the sign on top of the Commonwealth building to get the attention of travelers. Then it states they're exploring the possibility of new office space that is suited to their current need and it will be downtown. 

[Memphis4ever]

The Oliver continues...

[TheKernel91]

Downtown Projects to look out for 2024, According  to the Commercial Appeal 

I hope at some point this year we'll see construction start all of these and have cranes in the sky. 

https://www.commercialappeal.com/story/money/business/development/2024/01/04/downtown-memphis-development-100-north-main-dream-hotel-orleans-station-the-walk-on-union/71930797007/

Edited January 4 by TheKernel91

[The Guardian of Memphis]

Medical District development Vic on Union scales down, receives PILOT extension

Glad to know this project will go forward and hasn’t been scrapped as we thought.  I thought this was an encouraging quote from the article: 

“When we picked Memphis, we did it because we saw a long-term opportunity to grow as Memphis is growing.”

Yeah baby!!

[MDC26]

Chick-fil-A was approved for downtown near St Jude campus.  Also, St Jude 2500 car parking garage was approved for the site that was previously the Memphis vehicle maintenance facility.  I hope they keep the façade of maintenance facility.

https://dailymemphian.com/section/foodfood-news/article/41380/downtown-memphis-chick-fil-a-alsac-st-jude-parking-garage

[MDC26]

https://wreg.com/news/local/front-street-peabody-place-road-closing-for-sky-bridge-construction/amp/

Front St closes for construction of skybridge connecting Autozone and mobility center. 
 

[James Owen]

The owners of the Sheraton next to the Renasant Convention Center have placed the property up for sale.

Sheraton Memphis Downtown, largest hotel in Memphis, is now listed for sale

By Stephen MacLeod, Memphis Business Journal

https://www.bizjournals.com/memphis/news/2024/02/01/sheraton-memphis-downtown-hotel-listed-for-sale.html

Whomever assumes ownership of the hotel will hopefully carry out the plans to renovate it completely.

[TheKernel91]

22 hours ago, James Owen said:

The owners of the Sheraton next to the Renasant Convention Center have placed the property up for sale.

Sheraton Memphis Downtown, largest hotel in Memphis, is now listed for sale

By Stephen MacLeod, Memphis Business Journal

https://www.bizjournals.com/memphis/news/2024/02/01/sheraton-memphis-downtown-hotel-listed-for-sale.html

Whomever assumes ownership of the hotel will hopefully carry out the plans to renovate it completely.

All that gripe they gave about the Lowe's Hotel coming a couple years ago, just for them to leave? Opens the door for a new convention center hotel. 

[JTM1]

23 hours ago, James Owen said:

The owners of the Sheraton next to the Renasant Convention Center have placed the property up for sale.

Sheraton Memphis Downtown, largest hotel in Memphis, is now listed for sale

By Stephen MacLeod, Memphis Business Journal

https://www.bizjournals.com/memphis/news/2024/02/01/sheraton-memphis-downtown-hotel-listed-for-sale.html

Whomever assumes ownership of the hotel will hopefully carry out the plans to renovate it completely.

Good news! Getting this deadbeat owner out Memphis is a plus, because the owner of the Sheraton was never fully invested in Memphis. I am sure the new owner will rebrand the hotel and  make all needed improvements. 

[jjbradleyBrooklyn]

1 hour ago, TheKernel91 said:

All that gripe they gave about the Lowe's Hotel coming a couple years ago, just for them to leave? Opens the door for a new convention center hotel. 

Exactly what I was thinking.

They helped keep Loews out of Memphis and now the owners are bailing out of Memphis, anyway. Eyeyeye.

[Memphisborn]

31 minutes ago, JTM1 said:

Good news! Getting this deadbeat owner out Memphis is a plus, because the owner of the Sheraton was never fully invested in Memphis. I am sure the new owner will rebrand the hotel and  make all needed improvements. 

Wouldn’t mind seeing a Hilton Conrad as the next brand. They have very nice and luxurious brands. Would definitely make a great convention hotel

[Memphis4ever]

On 1/25/2024 at 8:09 AM, MDC26 said:

Chick-fil-A was approved for downtown near St Jude campus.  Also, St Jude 2500 car parking garage was approved for the site that was previously the Memphis vehicle maintenance facility.  I hope they keep the façade of maintenance facility.

https://dailymemphian.com/section/foodfood-news/article/41380/downtown-memphis-chick-fil-a-alsac-st-jude-parking-garage

No they will be building a huge garage.

[MDC26]

Details on Holiday Inn Express at Dermon building. Also, Ballard & Ballard building getting exterior upgrades. 
 

• a basement level: mechanical systems, staff areas, a fitness center, and a meeting and business center,
• the ground floor: reception, dining area, kitchen, management offices, lounge and express market, meeting room and 1,500 square feet of leasable space,
• levels 2-9: one and two-bed hotel units,
• the rooftop: a common area overlooking the Mississippi River and Tom Lee Park.

https://dailymemphian.com/section/businessreal-estate/article/41709/dermon-ballard-ballard-co-building-designs-approved

 

[TheKernel91]

https://www.bizjournals.com/memphis/news/2024/02/12/owner-commercial-appeal-building-self-storage.html

 

 

No no no. We need a pause on storage faculties in Memphis. I really want the owners to think outside of the box for this property. 

[jjbradleyBrooklyn]

2 hours ago, TheKernel91 said:

https://www.bizjournals.com/memphis/news/2024/02/12/owner-commercial-appeal-building-self-storage.html

 

 

No no no. We need a pause on storage faculties in Memphis. I really want the owners to think outside of the box for this property. 

Those huge storage companies can be such under utilized buildings. And in some cases, architectural eyesores. 

Once a building like this becomes a storage unit, they remain storage units for decades upon decades, due mostly to their low maintenance and high income earning ability for the owners. 

An area basically has to grow and develop and gentrify super well to force better uses for the building, that serve the community. 

Such a waste of a good building, in my opinion.

[Memphisborn]

11 hours ago, TheKernel91 said:

https://www.bizjournals.com/memphis/news/2024/02/12/owner-commercial-appeal-building-self-storage.html

 

 

No no no. We need a pause on storage faculties in Memphis. I really want the owners to think outside of the box for this property. 

This property has so much potential for mixed use potential. A storage unit is not the highest and best use for this Gem of a property. They really need to have better vision for this property 

[The Guardian of Memphis]

10 hours ago, Memphisborn said:

This property has so much potential for mixed use potential. A storage unit is not the highest and best use for this Gem of a property. They really need to have better vision for this property 

I hope this was a joke. The Medical District Collaborative Board should block this super fast. Can they do that?