MEMPHIS | Development News

[Johnny Ryall]

The 'Queen Of The South' will finally return to her former glory. The most historic skyscraper in the Southern United States has been purchased for decades-long-awaited major renovations.

Sterick Building bought by local group
Corinne S Kennedy
Memphis Commercial Appeal

Stuart Harris of Memphis-based Constellation Properties said on Friday his team has closed on the purchase of the historic structure at the corner of North B.B. King Boulevard and Madison Avenue. The building is a 340,000-square-foot, 29-story, Gothic Revival skyscraper that was completed in 1929... Harris has overseen the redevelopment of the nearby The Commonwealth building at 240 Madison Ave. Constellation Properties has also purchased parcels between The Commonwealth and the Sterick on Madison for future redevelopment... The recent purchase agreement also resolved outstanding issues with a ground lease, which had made taking action on the property in recent years difficult. That lease was not set to expire until 2025.

Full Story - https://www.commercialappeal.com/sto...t/70068402007/



Full Story - https://www.commercialappeal.com/sto...t/70068402007/

[KingWestMemphis]

I've been waiting for the revival of the Sterick Building since I was a little kid. I'm so excited to see the development plans to come!! This is a major win!!!!!

[Texcitement]

Wow! Beautiful building. So glad it's going to be restored.

[DetroitSky]

Great news!

[memphisborn]

Originally Posted by Johnny Ryall

The 'Queen Of The South' will finally return to her former glory. The most historic skyscraper in the Southern United States has been purchased for decades-long-awaited major renovations.

Sterick Building bought by local group
Corinne S Kennedy
Memphis Commercial Appeal



Full Story - https://www.commercialappeal.com/sto...t/70068402007/



Full Story - https://www.commercialappeal.com/sto...t/70068402007/

This will be a rising tide to lift all boat’s development.it’s an amazing building and should really bring excitement to that corridor of downtown

[KingWestMemphis]

Ducks Unlimited has secured 1,500 acres of land in the Arkansas floodplains for a wetlands conservation park. The park (named Ducks Unlimited Park) will be between the New and Old Bridges and accessible from Big River Crossing.



https://www.ducks.org/newsroom/press...rk-in-arkansas

[maximus10]

Midtown landmark could switch from office to apartments

A development team hopes to convert the 15-story office building at 1331 Union Ave. — known for its prominent prints of George Rodrigue’s blue dogs — into a commercial mixed-use property.

Doing business as Union Crown Memphis, the team has submitted an application to the Downtown Memphis Commission’s Center City Revenue Finance Corp. for a 12-year PILOT to transform the Memphis landmark into 181 apartment units.

Built in 1965, the building includes 400 parking spaces in a four-story garage and 156,342 square feet of leasable office space in the 10 floors above.

https://dailymemphian.com/section/ne...apartment-plan

[maximus10]

Developers of $75M fairgrounds redevelopment project ask for PILOT

The private, mixed-use development portion of the City of Memphis’ fairgrounds redevelopment could finally be moving ahead.

According to an application recently filed with the Downtown Memphis Commission’s Center City Revenue Finance Corp., Liberty Park could include 200 residential units, about 12,000 square feet of ground floor commercial space and a 200-room hotel.

Local developer James E. Maclin, in partnership with Maryland-based Capstone Development, is asking the CCRFC for a 15-year PILOT, or payment in lieu of taxes, with plans to spend more than $75 million on the project.

https://dailymemphian.com/section/ne...requests-pilot

[maximus10]

119 Madison Ave.

The developers renovating the 106-year-old building at 119 Madison Ave. will go before the Downtown Memphis Commission’s Design Review Board on Wednesday, June 7.

Eduardo Sanchez bought the historic building in 2022 for $360,000 with plans to transform the abandoned building with commercial retail on the ground floor and short-term residential on the floors above.

https://dailymemphian.com/subscriber...ridgeway-trace

[maximus10]

Cycle Shop developers propose six-story Tomorrow Building concept for Edge District

https://skyscraperpage.com/forum/new...reply&t=177212

[maximus10]

Cerpa Construction proposes infill apartment project in the Medical District

Nice infill project here.

https://www.bizjournals.com/memphis/...-district.html

[maximus10]

New details of the Downtown Dream Hotel design revealed

The development team lead by Tom Intrator, doing business as 18 Main, is revealing additional design plans for its proposed Dream Hotel at 122 S. Main St.

Intrator plans to transform the former Royal Furniture Co. building into a mixed-use development featuring a Dream Hotel with seven levels of hotel rooms, three floors of apartments and ground floor restaurant space.

The update comes as the project is scheduled to go before the Downtown Memphis Commission’s Design Review Board next week. The hotel and mixed-use project is required to go before the review board because it received a 20-year PILOT in 2019 from the Center City Revenue Finance Corp.

According to a DMC staff report, the development will be a combination of adaptive reuse and new construction and will incorporate a portion of the existing building facing Main Street.

The plans also call for building a new 14-story tower on the eastern portion of the site.

https://dailymemphian.com/section/ne...n-review-board

[maximus10]

Entertainment leaders tout economic impact of DeSoto County tourism

Looks like Landers Center is ready to expand.

For the past two years, the Landers Center in Southaven has outpaced FedExForum in gross revenue and ticket sales for concerts, and DeSoto County entertainment stalwarts are optimistic the venue will continue to be an economic driver in the region.

During the Southaven Chamber of Commerce’s quarterly luncheon Wednesday, Aug. 23, Todd Mastry, CEO of the Landers Center and the BankPlus Amphitheater at Snowden Grove, touted figures compiled by concert trade publication Pollstar as a testament to the Landers Center’s impact on the county’s local economy. In 2022, the Landers Center sold a little more than 149,000 concert tickets and recorded about $10.53 million in gross revenue, according to Pollstar’s data. That same year FedExForum sold approximately 110,800 concert tickets with nearly $9 million in gross revenue.

[vetteking]

Are there any updates on new buildings or renovations on University of Memphis campus? Haven’t been on campus in a good minute

[Johnny Ryall]

Memphis development: From 100 N. Main to The Walk, here's what to look for in 2024
Neil Strebig, Memphis Commercial Appeal
January 4, 2024

These are the most notable projects coming in 2024 (or at least getting started). But first, let's give a shoutout to the two big ones that opened in 2023. The $40 million Downtown Mobility Center opened in August. The 960-vehicle parking garage is still seeking commercial tenants on the ground floor. Additionally, Tom Lee Park reopened in September after its $61 million remodel.

Story https://finance.yahoo.com/news/memph...110335725.html

100 N. Main

100 N. Main


Dixie Greyhound Complex

Dixie Greyhound Complex

Vic on Union

The ambitious 286-unit apartment complex at 785 Union Ave. is currently on hold, according to Kate Good of Hunington Properties. Good cited increased construction costs and budget concerns for delays in construction. Houston-based Hunington Properties was planning to convert the former Office Depot site into a $46.44 million, five-story residential complex along with 327-vehicle parking garage.

Falls Building

Falls Building

Dermon Building

Dermon Building

Orleans Station

Orleans Station

The Walk (on Union)

The Walk (on Union)

Dream Hotel & other 18 Main projects

The ambitious 171-room Dream Hotel project at 122 S. Main St. will be delayed. In November 2023, Yoav Poni of 122 S. Main LLC submitted an extension request for the site’s special use permit with the Memphis and Shelby County Land Use Control Board. The nine-month extension would now carry over until Sept. 1, 2024, instead of Dec. 31, 2023. Plans for the Dream Hotel have largely remained the same. In August 2023, Jonathan Smith of LRK filed a construction permit with the Memphis and Shelby County Division of Planning and Development for the project. According to the construction permit, the $75 million project will total 176,883 square feet and include a hotel, restaurant and apartments. The site plan includes building a 14-story tower on top of the existing three-story structure (and former site of Royal Furniture Co.).

STORY https://finance.yahoo.com/news/memph...110335725.html

[arnoldnashwel]

On a lighter note, considering the pace and scale of these developments, one might say that Memphis is "building" its way to becoming the healthcare capital, quite literally. It’s like the city decided to take the term