MEMPHIS | Development News

[Johnny Ryall]

Originally Posted by arkitekte

Thanks. I tried to find some information on them, but I didn't find anything really...not even a website. I'll look around some more tomorrow. There might be some online articles about some other developments they have that might give us a better idea of what may happen here.

Remember the current owners tried to sell it to a group who wanted to make it a Comfort Suites, but Loeb Properties, the neighborhood association & city said no way in hell they'd let that happen. Those parties demand it be turned into a luxury boutique hotel.

My posted link from July 20th sheds a little light on it: http://forum.skyscraperpage.com/show...postcount=1699

The owners have entered into a contract with an Austin-based development group for the sale of the boutique hotel, announced Donald W. Pemberton, one of the current owners... Mohamad Hakimian, former manager of The Peabody and a partner in the boutique Madison Hotel, is associated with the prospective purchaser.

http://www.commercialappeal.com/news...D=happeningnow

[arkitekte]

^Thanks for clearing that up some, Johnny. Even if redeveloped as a hotel, I was somewhat hoping we would get a new building that is built up to the street, or at least somewhat closer, I think it would improve pedestrian activity at Overton Square some, but anything that happens at that property with the existing building is promising.

[arkitekte]

City To Receive At Least $1 Million In Rent Each Year From Bass Pro
http://www.memphisflyer.com/NewsBlog...-from-bass-pro

The city is set to receive a minimum of $1 million in rent each year from Bass Pro Shops' new Pyramid store for the initial lease with possibilities of as much as $2.5 million in rent annually, depending on revenue from the store.

That's according to a memo sent to Mayor A C Wharton from Housing and Community Development director Robert Lipcomb on Monday. The $1 million figure sets the "floor," while the $2.5 is the estimated "ceiling" for annual rent revenue. Bass Pro has a 20-year lease with the city for the Pyramid with seven consecutive renewal periods of five years following that initial lease term.

"With the addition of the Rooftop Facility and Hotel to the rent calculation, $1.5 to $1.9 million is a very conservative working estimate for the annual rent revenue for the initial lease term of 20 years," reads the memo.

So I guess the hotel is back on the table for the Pyramid. I was hoping that they wouldn't go through with the hotel in house so one could be developed in the Pinch.

[Wayward Memphian]

Originally Posted by arkitekte

City To Receive At Least $1 Million In Rent Each Year From Bass Pro
http://www.memphisflyer.com/NewsBlog...-from-bass-pro







So I guess the hotel is back on the table for the Pyramid. I was hoping that they wouldn't go through with the hotel in house so one could be developed in the Pinch.

They are going put in around 55 rooms supposed based on rooms at Big Cedar Lodge up in Branson. You'll learn soon that if he intends this to be something other than his typical big box and more like his Springfield store that something will nearly always will be going on in terms of reno or addition.

[Johnny Ryall]

Saddle Creek Shopping Center to expand
Memphis Biz Journal

Trademark will first demolish about 20,000 square feet of space in Saddle Creek South and then add approximately 40,000 square feet of retail space in the area between Saddle Creek South and Saddle Creek West.

http://www.bizjournals.com/memphis/n...to-expand.html

MBJ

[Johnny Ryall]

I think this looks like a winner. Have Kirby-Whitten Pkwy diverted through the fields around the western edge of the park. I completely understood the fight not to have K-W just go right through the heart & recreational areas of Shelby Farms, but I don't see the city, county & state being able to put this off any longer. The traffic delays in this area are becoming absolutely abysmal.

Hearing on roadway extension at Shelby Farms set for Sept. 24
Memphis Biz Journal

The four-lane parkway will connect Walnut Grove Road to Kirby-Whitten Road. Recreational paths for bikers and walkers will also be connected to the new parkway. Construction is proposed to begin in 2017. The cost of the $20 million project will be shared by the federal government and city of Memphis.

http://www.bizjournals.com/memphis/n...at-shelby.html

Tennessee Department of Transportation

[arkitekte]

Overton Square updates.

Parking garage:




Hattiloo Theater:

[Johnny Ryall]

Southern College of Optometry reconfigures campus in multiple phases
Memphis Daily News

Southern College of Optometry is putting the finishes touches on the first of three phases of major renovations that will take place over the next decade... A grand atrium connects the campus’ distinctive 11-story tower with the renovated classroom spaces and adds about 23,000 square feet of space behind the tower... The last previous building project at the school was the construction of a 60,000-square-foot optometry clinic (the largest in the world) in 2002... Southern College of Optometry formed in 1932 and today is one of only 21 optometry schools in the U.S. The school’s current enrollment is 508 students, its highest total in 30 years.

http://www.memphisdailynews.com/news...isionary-plan/

(Philip Tribble)

[VSRJ]

Does anyone know what's up with the Chisca Hotel project? I drove past it the other day and it looked practically untouched. I hope it hasn't stalled.

[arkitekte]

Originally Posted by VSRJ

Does anyone know what's up with the Chisca Hotel project? I drove past it the other day and it looked practically untouched. I hope it hasn't stalled.

As far as I know everything is fine with it, I know they've been doing a majority of the work on the interior, but I haven't paid too much attention to it in the past few weeks.

[Johnny Ryall]

Originally Posted by arkitekte

As far as I know everything is fine with it, I know they've been doing a majority of the work on the interior, but I haven't paid too much attention to it in the past few weeks.

As far as the exterior goes, removing the red window coverings is about all I've noticed. Once the Chisca redevelopment is finished & Foote Homes is bulldozed, that whole neighborhood is going to boom.

[VSRJ]

According to their Instagram account (http://instagram.com/p/epe-OQr_qh/), Volvo of Memphis is relocating to 7910 Trinity @ Germantown Pkwy Summer 2014:

[Johnny Ryall]

Another little Bass Pro/ Pyramid update.

Bids on Bass Pro construction project to be opened in October
The Commercial Appeal

Bids for retail, hotel and rooftop contracts at the Bass Pro Shops superstore in the Pyramid will be opened in mid-October, with December 2014 now set as the date for the public debut of the Downtown project.

http://www.commercialappeal.com/news...ject-to-be-in/

[Johnny Ryall]

An insightful article about the current expansion & renovation of Saddle Creek including recent land acquisitions that signal much larger expansions of high-end retail are coming.

Saddle Creek Growth Sign of Future for City
Memphis Daily News

The upscale Shops at Saddle Creek was a groundbreaking project when it opened in 1987 and has been widely recognized as the first lifestyle center retail development in the nation... In 2011, Gill Poplar GP, led by managing partner Raymond Gill, bought the 10-acre property housing the historic Nelson-Kirby House for $2.6 million. The property, east of Kirby Parkway and bounded by Poplar on the north and Poplar Pike on the south, was added to the National Register of Historic Places in 1986. Gill has been considering a major mixed-use development featuring office and retail space. High income levels, population density and high traffic counts make Germantown an attractive destination for upscale developers and retailers, who have been quicker to rebound from the economic downturn... The Lawrence Group plan focuses on a 58-acre tract bounded by Poplar Avenue on the north, Poplar Pike on the south, the city’s border on the west and the Nottaway subdivision on the east.

http://www.memphisdailynews.com/news...ture-for-city/

[Johnny Ryall]

For the second time in a week, a $100+million industrial/ manufacturing development has been announced for metro Memphis.

Crankshaft maker to create 300 manufacturing jobs in Tunica
Memphis Biz Journals

Mississippi officials announced Tuesday that Feuer Powertrain is investing $140 million to build a 156,600-square-foot manufacturing facility in Tunica... Construction is expected to begin by the end of the year and Feuer’s facility should be open by the fourth quarter of 2014. The company manufactures crankshafts for automotive manufacturers including General Motors, Ford Motor Co., BMW, Chrysler, Ferrari and Cummins Inc.

http://www.bizjournals.com/memphis/n....html?page=all

[Johnny Ryall]

TDOT has awarded its single largest-ever contract for completion of the massive East Memphis 4-stack interchange. Construction should take nearly 4 years, but luckily coincides with the completion of the 385 segment of the I-269 outer loop which will take off some pressure. Although a large piece of the puzzle, this is only 1 of several major interstate highway projects that will see metro Memphis move to the front of the pack when considering interstate expressway systems. To this day I still don't think a lot of people realize how large it's becoming, nor do they realize how large the contiguous urban street grid & its "throughput" are. Not to mention, the most numerous amount of highways that interact with it of any city in the country & beyond.

TDOT awards $109.3 million contract to finish I-40-240 interchange in East Memphis
The Commercial Appeal

The new project features the construction of an approximately 70-foot-high flyover ramp that will extend from the I-40-240 loop to eastbound I-40, creating West Tennessee’s first four-level interchange. It also will include completion of the now-deadend ramp leading from westbound I-40 onto the I-40 north loop and the replacement of the I-40 bridge over the Wolf River... To help some motorists avoid the construction zone, TDOT has timed start of work to coincide with the November completion of the last segment of Tenn. 385 between Macon and Tenn. 57 in Collierville.

http://www.commercialappeal.com/news...o-finish-i-40/

[arkitekte]

^That project is going to be a mess while under construction, it's much needed and should be very effective once completed. Has anyone heard about TDOT widening I-40 from US-64 to roughly halfway between Canada Rd. and 385 to three lanes each direction? I might have overlooked the article about this, but I had a friend mention it to me the other day and couldn't remember reading about it at anytime.

[VSRJ]

This isn't a huge development, but more a beacon of hope in regards to the Bass Pro project. For the first time in years, the Pyramid is illuminated at night. It was blue last night, tonight it is red:





I'm not sure if these lights are permanent or not. The lighting is very subtle, especially the red. They're nowhere near as bright as they were when the Pyramid was open as an arena. Still, it's exciting to see progress.

[Johnny Ryall]

Originally Posted by VSRJ

This isn't a huge development, but more a beacon of hope in regards to the Bass Pro project. For the first time in years, the Pyramid is illuminated at night. It was blue last night, tonight it is red:

I'm not sure if these lights are permanent or not. The lighting is very subtle, especially the red. They're nowhere near as bright as they were when the Pyramid was open as an arena. Still, it's exciting to see progress.

That's awesome! Thanks for sharing these photos.

I'd imagine they'd keep it soft & subtle as opposed to having it full on spot lights. Harbortown residents would raise hell, but it looks great just the same. The Pyramid is coming back to life little by little and this is indeed a milestone.

By the way, I'd like to repost those on SSC. If you are against simply PM me and I'll remove them.

[Trevor Birchett]

Don't you wish we had a Memphis Skyline Earthcam so we could freak out about this live like the folks do over in the 1 WTC thread? Haha - maybe one day.

Anyway, definitely a milestone and thank you so much for sharing. I almost like the subtle glow but I'm certain they will be brighter. I guess tonight will tell if this will be a permanent thing - if they do it again tonight then it will likely be permanent, but they might have just been testing.