MEMPHIS | Development News - Page 273

memphisborn · #**5441** Posted **Jul 17, 2022, 11:17 PM**

Quote:

Originally Posted by MDC26

The guy doing it was a medical resident. He finished his residency and moved to Chattanooga for a fellowship. Not sure if it fell through first, or it fell through because he was moving. COVID was going on too.

It looks like that building is supposed to be razed, but I wish they’d keep it.

Ok just curious as to what happened. Hope that building is preserved and retrofitted to compliment the Ravine, It could make a nice Daiquiris bar & restaurant I heard Fat Tuesday was interested in a second location here.

memphisborn · #**5442** Posted **Jul 19, 2022, 4:29 PM**

https://www.bizjournals.com/memphis/...el-market.html

I’m hoping this Hotel gets done there is a lot of political jockeying going on right now, concerning the taxpayers backstopping the bonds 100%.

https://www.commercialappeal.com/sto...e/10065258002/

JroxJrox · #**5443** Posted **Jul 20, 2022, 3:20 AM**

Quote:

Originally Posted by memphisborn

https://www.bizjournals.com/memphis/...el-market.html

I’m hoping this Hotel gets done there is a lot of political jockeying going on right now, concerning the taxpayers backstopping the bonds 100%.

https://www.commercialappeal.com/sto...e/10065258002/

It should get worked out this week. Although I agree with the mayor on this one. He is completely wrong to hold this up. Yes he is controlling the tax payers dollars but he and his team made a huge mistake kissing up to Loews Hotel and their team. Not only did we lose that opportunity but the administration themselves screwed that up with the Townhouse Group. The Sheraton wanted to build a JW Marriott hotel but this administration was all in on Loews.

memphisborn · #**5444** Posted **Jul 21, 2022, 1:26 AM**

Quote:

Originally Posted by JroxJrox

It should get worked out this week. Although I agree with the mayor on this one. He is completely wrong to hold this up. Yes he is controlling the tax payers dollars but he and his team made a huge mistake kissing up to Loews Hotel and their team. Not only did we lose that opportunity but the administration themselves screwed that up with the Townhouse Group. The Sheraton wanted to build a JW Marriott hotel but this administration was all in on Loews.

Yes I Remember Sheraton proposing a JW Marriott. Lowes was a long shot from the beginning. Hope they get this Grand Hyatt worked out. Civic plaza site is still available maybe Sheraton will be interested in JW @ that site

JroxJrox · #**5445** Posted **Jul 22, 2022, 2:50 AM**

Quote:

Originally Posted by memphisborn

Yes I Remember Sheraton proposing a JW Marriott. Lowes was a long shot from the beginning. Hope they get this Grand Hyatt worked out. Civic plaza site is still available maybe Sheraton will be interested in JW @ that site

Sheraton already have the rights to the big piece of land between it and I40 and was looking into developing with a new building along with upgrading the current hotel. But again, this administration would be fired if they were running a business for that total failure. And dont forget the guy from Denver that came to them first. I think he may have built the Omni Hotel next to their convention center. Total Fail for this administration, and I like them.

JroxJrox · #**5446** Posted **Jul 23, 2022, 9:58 PM**

Quote:

Originally Posted by JroxJrox

Sheraton already have the rights to the big piece of land between it and I40 and was looking into developing with a new building along with upgrading the current hotel. But again, this administration would be fired if they were running a business for that total failure. And dont forget the guy from Denver that came to them first. I think he may have built the Omni Hotel next to their convention center. Total Fail for this administration, and I like them.

Grand Hyatt Hotel Update: Looks like they are about to pour the concrete foundation for this hotel. They worked late yesterday and thru 3 pm today. Cranes are coming in.

memphisborn · #**5447** Posted **Jul 24, 2022, 12:24 PM**

Quote:

Originally Posted by JroxJrox

Grand Hyatt Hotel Update: Looks like they are about to pour the concrete foundation for this hotel. They worked late yesterday and thru 3 pm today. Cranes are coming in.

That’s good news. Hopefully there are no more delays. The city needs this Hotel

Grizz901 · #**5448** Posted **Jul 26, 2022, 1:27 AM**

Quote:

Originally Posted by memphisborn

That’s good news. Hopefully there are no more delays. The city needs this Hotel

How are they moving forward without approval of the backstop?

maximus10 · #**5449** Posted **Jul 26, 2022, 5:02 PM**

$15.3M Edge District apartment complex in works

Quote:

A Jonesboro-based developer is planning a 105-unit apartment complex in the Edge District.

The development, called University Lofts, will be at 442 Monroe Ave. in the former Holliday Flowers property site.

The developer, Six Land Co. LLC, bought 442 Monroe Ave. and the adjacent property at 16 S. Lauderdale St. for $3 million in June, according to the Shelby County Register of Deeds.

Six Land vice president of real estate Parker Sitton said the proposed $15.3 million, 77,227-square-foot development will feature 105 micro lofts averaging 423 square feet.

https://dailymemphian.com/section/bu...rtment-complex

memphisborn · #**5450** Posted **Jul 27, 2022, 2:32 PM**

Quote:

Originally Posted by maximus10

$15.3M Edge District apartment complex in works

https://dailymemphian.com/section/bu...rtment-complex

Glad to see the edge district moving along. It’s an up and coming district ripe for development.

maximus10 · #**5451** Posted **Jul 28, 2022, 8:19 PM**

Vic on Union development at former Office Depot site moves forward

Quote:

The Memphis and Shelby County Board of Adjustment on Wednesday, July 27, approved plans to renovate the former Office Depot building site at 785 Union Ave. in the Medical District into apartments.

Texas-based developer Hunington Properties Inc. plans to demolish the former Office Depot and build the Vic on Union, a five-story mixed-use development alongside a seven-story, 283-vehicle parking garage.

The board approved a variance request to allow for a mixed-use development on the site. In a letter of intent, Jarmon Peregoy of Kimley-Horn & Associates said the property previously had split zoning: Central Business District (CBD) in the northern portion of the site and Employment (EMP), which is reserved for office, light manufacturing, processing and commercial uses, in the southern portion of the site.

https://dailymemphian.com/section/bu...s-vic-on-union

memphisborn · #**5452** Posted **Jul 30, 2022, 3:28 PM**

Quote:

Originally Posted by maximus10

Vic on Union development at former Office Depot site moves forward

https://dailymemphian.com/section/bu...s-vic-on-union

Nice infill development I remember when Gordon foods was looking @ that site. Glad to see it’s being developed

memphisborn · #**5453** Posted **Aug 3, 2022, 3:38 AM**

Quote:

Originally Posted by Grizz901

How are they moving forward without approval of the backstop?

Looks like they are about to finalize the Grand Hyatt Deal this week.

https://www.commercialappeal.com/sto...k/10214920002/

maximus10 · #**5454** Posted **Aug 3, 2022, 6:30 PM**

$300M in development planned for Millington

Not sure if this was posted earlier but didn't see anything about it. But looks like Millington is planning a nice development for their area.

Quote:

MILLINGTON, Tenn. — Millington may soon be home to $300 million in new developments including shopping centers and new homes.

Terry Roland, executive director of the Millington Area Chamber of Commerce, discussed with WREG about how he plans to double the tax base of Millington over the next five years. He said $300 million in Tax Increment Financing will create nine subdivisions and, with commercial development, will help the 120-year-old city capitalize on the opening of Blue Oval City by Ford.

https://wreg.com/on-air/live-at-9/li...in-millington/

maximus10 · #**5455** Posted **Aug 3, 2022, 6:32 PM**

Memphis development: Apartments planned for The Dermon Building in Downtown

Quote:

Developers revealed plans Tuesday for The Dermon Building at 46 N. B.B. King Blvd.

Sam Patel and Nick Patel are proposing about 100 apartments in the 10-story building at B.B. King and Court Avenue, according to an application the pair filed with the Center City Revenue Finance Corporation.

The two are seeking a payment-in-lieu-of-taxes incentive (PILOT) for 12 years. The tax incentive would be worth about $1.8 million in today's dollars.

https://www.commercialappeal.com/sto...t/10219706002/

memphisborn · #**5456** Posted **Aug 14, 2022, 11:24 AM**

Quote:

Originally Posted by maximus10

New destination hotel, mixed-use development coming to Memphis

https://www.wmcactionnews5.com/2021/...oming-memphis/

Hope this hotel/ condo get built. This would be nice addition to pinch district develop it along with Rhythm & blues museum in the old panhandlers building and u would have a major attraction.

maximus10 · #**5457** Posted **Nov 2, 2022, 7:12 PM**

Dream Hotel project has new $99.3M price tag, seeks TDZ incentive

Nice project right in the heart of downtown on Main St.

Quote:

Tom Intrator’s Dream Hotel project is seeking a revised 20-year tax incentive and a 5% Tourism Development Zone surcharge.

Intrator’s company, 18 Main, is proposing a 181-room hotel and 10 apartments on the upper two floors along with multiple restaurants, cafes and bars.

The $99 million project would build a tower on the former three-story Royal Furniture Co. building at 122 S. Main St. The historic facade on the lower three floors will be preserved.

The new 19-story building will have two basement levels with a renovated lobby, ballroom and pool deck on the lower four floors.

https://dailymemphian.com/section/ne...rice-seeks-tdz

Cateesss · #**5458** Posted **Nov 2, 2022, 9:32 PM**

http://https://www.commercialappeal....uVaxERE9-XAAk8
The Commercial Appeal is reporting that the Grand Hyatt at 1 Beal is now dead. ��

Johnny Ryall · #**5459** Posted **Nov 5, 2022, 12:39 PM**

Quote:

Originally Posted by Cateesss

The Commercial Appeal is reporting that the Grand Hyatt at 1 Beal is now dead.

The article quotes Chance Carlisle saying "I think it will eventually happen". He is obviously having a political feud with the Strickland administration. One Beale has already become an impressive development, but I would suspect its Grand Hyatt tower centerpiece will be on hold through next year.

Cateesss · #**5460** Posted **Nov 12, 2022, 2:33 PM**

Quote:

Originally Posted by Johnny Ryall

The article quotes Chance Carlisle saying "I think it will eventually happen". He is obviously having a political feud with the Strickland administration. One Beale has already become an impressive development, but I would suspect its Grand Hyatt tower centerpiece will be on hold through next year.

Yeah hopefully it’s just a bunch of political nonsense. The bond market improved quite a bit this week so hopefully they were able to price in. They haven’t stopped work at the site. So hopefully that’s a good sign.
https://acrobat.adobe.com/link/track...f-0d6baab43193 <== link to Picture of construction work on 11/12/22