Downtown Memphis Commission - Development Tour: Seven-Part Story

OUR DEVELOPING DOWNTOWN STORY

IN SE VEN PAR TS

New Opportunities in the Pinch & Uptown

Transforming Major Gateways

South Main & South City have Momentum

Partnering for a World-class Riverfront

DMC’s Main Street Strategy is Working

Investment in the Edge is Yielding Major Results

DMC’s Commitment to Supporting Emerging Developers

DMC: BOARD TOUR - JANUARY 2019

2019 Board Members DMC Deni Reilly, Chairman Terry Woodard, Vice Chair Ben Orgel, Secretary John Pontius, Treasurer Williams Brack Mauricio Calvo Rep. Barbara Cooper Julie Ellis Elizabeth Low Commissioner Mickell Lowery Joann Massey Cheryl Pesce Demar Roberts John Zeanah CCRFC Christina Kurdilla, Chairman Eric Mathews, Vice Chair Bobbi Gillis, Treasurer/Secretary Jim Crone Glenn Floyd Brandy Johnson-Ward Sean Norris Walter Person Marija Sokolov Nelson

CCDC Michael B. Chance, Chairman Ray Brown, Treasurer Julie Lansky, Secretary Deni Reilly (DMC Chair) Terry Woodard (DMC Vice Chair) Benjamin Orgel (DMC Secretary) Sharon Leicham Anton Mack DPA Shanea McKinney, Chairman Brandon Bryant, Vice Chair John Golwen, Treasurer Alvin Crook Shara Goldin Wayne West

Staff List Jennifer Oswalt, president & CEO Penelope Springer, CFO Brett Roler, VP Planning & Development Jaske Goff, VP Operations Penelope Huston, VP Marketing & Communications Christine Taylor, office manager Debra Streeter, Director of Security & Hospitality Clint Burke, Manager of Clean & Green Ellery Ammons, Coordinator Planning & Development Abram Lueders, Analyst Planning & Development Jonathan Mosley, Events Coordinator Eleslie Walker, Supervisor Blue Suede Brigade

DRB Ray Brown, Chairman Rebecca Conrad, Vice Chair Joyce Selina Love, Secretary Deni Reilly Valentina Cochran Roderick DeBerry Suhair Lauck Colin McDoniel Sheila Urevbu Brian Bacchus

Tour covers major incentivized projects since 2017, with some earlier projects included due to scope or proximity

*1

M A L O N E PA R K COMMONS 97 Saffarans Ave. An ambitious project to redevelop a nearly three-quarter acre vacant lot in Uptown with a 25-unit “pocket neighborhood” rental housing community.

The project will feature a variety of small unit types including studios, four-plexes, and live work buildings surrounding a park-like space.

concept

*EMERGING DEVELOPER INCENTIVE

PILOT, Development Loan $2,360,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

New Construction

TYPE

Planned

S TAT U S

2021

COMPLETION OR EXPECTED COMPLETION

2

M A R I N E H O S P I TA L RESIDENCE 360 Metal Museum Drive The adaptive reuse of a U.S. Marine Hospital (originally built in the 1880s on the National Register of Historic Places) with more than100,000 square feet to be converted into 71 market-rate apartments.

Amenities will include pool, covered parking, and common gathering areas.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

PILOT, Development Loan $18,737,000 Adaptive Reuse Planned 2020

MIXED-USE PROJECT 80 Virginia Ave.

*3

The adaptive reuse of a 3-story industrial building on the South End into a 24-unit residential building with 1,000 square feet of commercial space on the ground floor.

concept

*EMERGING DEVELOPER INCENTIVE

PILOT $3,847,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Planned

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

GHOST RIVER TA P R O O M 544 S. Main St.

4

This project allowed Ghost River to reconfigure its interior space to add a tap room with beer tasting, on-site consumption, and a more formal retail component. Exterior improvements included a large outdoor deck, new signage and additional building improvements.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Exterior Improvement Grant $382,000

TYPE

Expansion

S TAT U S

Completed

COMPLETION OR EXPECTED COMPLETION

2016

5

U N D E R PA S S M U R A L ART & LIGHTING Florida St. and Main St. south of Carolina For the underpasses at Florida Street and Main Street, which lie between Carolina and Virginia, the project entailed cleaning concrete surfaces, walkways, ceilings, and walls; removing a portion of the unused overpass roadbed at Florida, adding pedestrian-scaled lighting to the underpasses; and adding public art to the underpasses.

INCENTIVE

CCDC Public Art Grant $125,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Public Art/Anti-Blight

TYPE

Completed

S TAT U S

2015

COMPLETION OR EXPECTED COMPLETION

6

CAROLINA W AT E R S H E D 141 E. Carolina The adaptive reuse of a grain silo for use as restaurant, bar, and venue with indoor and outdoor seating. Two parcels on E. Carolina were rehabbed in the renovation that included streetscaping, lighting, and sidewalk repair.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant $167,000 Adaptive Reuse & New Construction Completed 2017

L O F L I N YA R D 7 W. Carolina Ave.

7

The adaptive reuse of a former Key Shop into a bar and restaurant, and former barn into an event space. The project also included 10,000 square feet of outdoor dining space and a yard for recreation and games.

Development Loan, Exterior Improvement Grant

INCENTIVE

$878,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Completed

S TAT U S /202

2016

COMPLETION OR EXPECTED COMPLETION

MIXED-USE PROJECT 27 W. Carolina Ave.

8

A new six-story building with 57 apartments, 108 parking spaces, and 8,000 square feet ground floor retail, along with the adaptive reuse of a 3-story warehouse converted to 22 apartments.

concept

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S /202

COMPLETION OR EXPECTED COMPLETION

PILOT $10,441,000 Adaptive Reuse & New Construction Planned 2019/2020

9

SOUTH JUNCTION A PA R T M E N T S : PHASE I&II 9 E. Carolina Ave. This project was a new construction of 281 apartments with 264 on-site parking spaces on two parcels at the intersection of Carolina and Florida.

INCENTIVE

PILOT $26,100,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

New Construction

TYPE

Completed

S TAT U S

2014/2015

COMPLETION OR EXPECTED COMPLETION

10

T E N N E S S E E B R E W E RY & G A R A G E : PHASE I 495 Tennessee St. This award-winning mixed-use project involved the adaptive reuse of the existing building that originally housed the Tennessee Brewery and construction of an additional building just to the north. The finished project includes 148 apartments, 13,500 square feet of office and retail space, and a 339-space parking garage on a separate parcel ( 11 E. Butler Ave.) to the east.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

PILOT, Garage Funding $28,113,000 Adaptive Reuse & New Construction Completed 2018

T E N N E S S E E B R E W E R Y: PHASE II 495 Tennessee St.

10

A 94,800 square foot, four-story new construction apartment building, built as the second phase of the Tennessee Brewery project. This phase will add another 120+ apartment units and 1,600 square feet of retail space.

concept

INCENTIVE

PILOT $12,276,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

New Construction

TYPE

Under Construction

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

D C A : 1 1 W. H U L I N G 11 W. Huling

11

The renovation of the historic National Biscuit Company building on W. Huling into the permanent headquarters of Doug Carpenter & Associates (DCA), a local advertising agency. Space also includes an Air BnB rental and public meeting space.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Development Loan, Exterior Improvement Grant $200,000 Adaptive Reuse Completed 2018

ARRIVE HOTEL

12

477 S. Main St This project is a 62-room boutique hotel concept, with restaurant and retail space.

The project will be an adaptive reuse of the former Memphis College of Art building.

concept

INCENTIVE

PILOT $14,206,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Under Construction

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

ARCADE BUILDING

13

540 S. Main St. Exterior and interior renovations to the Arcade restaurant, including an expansion of the restaurant to an additional commercial bay, exterior improvements to additional storefronts and parking lot improvements.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant, Development Loan $779,000 Renovation Under Construction 2019

CENTRAL STATION, CURIO, MALCO, SOUTHLINE & ART

14

544 S. Main St. This project added 192 new apartments on vacant land, and will replace existing apartments in the train station building with a 132-room Curio boutique hotel being developed by the Kemmons Wilson Cos., and will expand the power house building for a five-screen Malco movie theater.

INCENTIVE

concept

Exterior Improvement Grant, Development Grant, Public Art Funding $55,000,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE

Adaptive Reuse , New Construction & Public Art Under Construction

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

Malco concept

underpass art

15

MIXED-USE PROJECT 529 S. Front St. A new 7,500 square foot, 3-story building at the northwest corner of GE Patterson and Front Street. The building will feature 5,000 square feet of ground-floor restaurant space, and 4 apartments on the upper floors.

concept

INCENTIVE

PILOT $1,636,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

New Construction

TYPE

Planned

S TAT U S

2019/2020

COMPLETION OR EXPECTED COMPLETION

A R T S PA C E L O F T S

16

138 St. Paul Ave. The adaptive reuse of a 65,000 square foot historic warehouse and construction of an adjacent new structure for a total of 58 live/work residences for artists.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Development Grant $16,000,000 Adaptive Reuse & New Construction Completed 2018

W I S E AC R E B R E W E RY S BB King south of Vance

17

A new 40,000 square foot brewery, which will serve as the company’s new primary production facility. The project will also feature a 5,000 square foot taproom.

concept

INCENTIVE

PILOT $9,850,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

New Construction

TYPE

Planned

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

ODEN 158 Vance Ave.

18

This adaptive reuse project transformed the historic Capital Pictures building into the permanent headquarters for Oden, a Memphis-based marketing firm.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

PILOT $3,097,000 Adaptive Reuse Completed 2018

SLIDER INN/OUT

19

363 Mulberry St. at Main The adaptive reuse of a former autoservice shop into a 3,000 square foot second location for the popular midtown restaurant Slider Inn. The adjacent parcel facing Main Street will be an outdoor venue and additional restaurant space.

Exterior Improvement Grant

INCENTIVE

$123,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Under Construction

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

MUSEUM LOFTS

20

138 Huling Ave. A new construction 4-story residential development with 69 apartments and 72 parking spaces. The project site is adjacent to the National Civil Rights Museum.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

PILOT $9,050,000 New Construction Planned 2019/2020

THE CHISCA ON MAIN 272 S. Main St.

21 21

The adaptive reuse of a historic 8-story hotel building into 161 apartments, 5,500 square feet of ground floor commercial space, and a 110-space parking garage

PILOT, Garage Funding

INCENTIVE

$32,000,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Completed

S TAT U S

2016

COMPLETION OR EXPECTED COMPLETION

266 M E M P H I S LO F T S 266 S Front St.

22

A mixed-use development on 1.73 acre site with two residential buildings, 75,980 square feet and 60,174 square feet, and a two-story 8,000 square foot commercial structure. Project is split into two phases -the first phase was completed in 2017.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

PILOT, Development Loan $17,862,000 New Construction Completed 2018

23

ONE BEALE/ H YAT T C E N T R I C 1 Beale St. Originally proposed as a mixed-use development at the SW corner of Beale and Front, in 2018 a revised version of the One Beale project increased the area used, and included adaptive reuse of the Ellis buildings. Project includes 227 apartment units, a 640-space public parking garage, and the new construction of a Hyatt Centric hotel.

PILOT, Garage Funding, CCDC Special Grant

INCENTIVE

$111,000,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse & New Construction

TYPE

Planned

S TAT U S

2021

COMPLETION OR EXPECTED COMPLETION

1 S . M A I N S T.

24

1 S. Main St. Exterior renovation for a new ground floor commercial use project. Enhancements include new retractable awnings, singlehung windows, exterior doors, refurbished metal banding, outdoor seating, and new tile veneer.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Exterior Improvement Grant $251,000

TYPE

Renovation

S TAT U S

Completed

COMPLETION OR EXPECTED COMPLETION

2018

18 S. MAIN 18 S. Main St.

25

An extensive adaptive reuse of 18 S. Main (previously Jerry’s/Murray’s) into a mixed-use development that includes 11,500 square feet of ground-floor and basement commercial space, and 8,900 square feet of office space in the floors above.

concept

PILOT, CCDC Development Grant

INCENTIVE

$4,696,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Planned

S TAT U S

2020

COMPLETION OR EXPECTED COMPLETION

26 S. MAIN 26 S. Main St.

* 26

Mixed-use building includes 6,500 square feet of ground-floor commercial space and four apartments above.

Exterior improvements on this project include the demolition and reconstruction of the entire facade.

concept *EMERGING DEVELOPER INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant $471,000 Adaptive Reuse Planned 2019/2020

4 7 - 5 1 S . M A I N S T.

27

47-51 S Main St. Extensive facade improvements to 47 S. Main(Family Dollar) and 51 S. Main(formerly déjà vu).

Exterior Improvement Grant

INCENTIVE

$300,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Under Construction

S TAT U S

2019/2020

COMPLETION OR EXPECTED COMPLETION

* 28

5 5 S . M A I N S T. 55 S Main St. Construction of a new 3-part commercial storefront, replacing a recessed storefront.

*EMERGING DEVELOPER INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant $179,000 Adaptive Reuse Completed 2018

6 4 S . M A I N S T. 64 S Main St.

* 29

Adaptive reuse of a 11,145 square foot mixeduse development featuring ground-floor retail, a basement gym, 5,315 square feet of office space, and a rooftop restaurant.

concept

*EMERGING DEVELOPER PILOT, Development Loan

INCENTIVE

$2,391,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Planned

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

GOULD’S 77 S Main St.

30

The project was part of Gould’s relocation from its former home in the basement of the Peabody Hotel to this ground floor space.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant $44,000 Adaptive Reuse Completed 2016

*

31

1 1 5 U N I O N AV E 115 Union Ave. Multi-phase adaptive reuse of a 24,922 square foot mixed-use building completed in 2012 PILOT and 2018 grant. Building has ground-floor and basement commercial-use with 23 apartment units above.

*EMERGING DEVELOPER PILOT, Development Loan, Exterior Improvement Grant

INCENTIVE

$3,885,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Completed

S TAT U S

2012

COMPLETION OR EXPECTED COMPLETION

1 0 5 M A D I S O N AV E .

32

105 Madison Ave. Proposed exterior improvements accompany an interior renovation for this ground floor commercial use project. Enhancements include exterior improvements of existing building at the southeast corner of Main St. and Madison.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant $19,000 Adaptive Reuse Planned 2019

1 4 9 M A D I S O N AV E .

149 Madison Ave.

33

This mixed-use project included the interior and exterior renovations of a 2-story historic commercial building on Madison Avenue. The building houses 2,500 square feet of ground-floor commercial space with two apartments above.

Exterior Improvement Grant

INCENTIVE

$235,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Completed

S TAT U S

2018

COMPLETION OR EXPECTED COMPLETION

T H E A R T E RY 2.0 Multiple alleys in the Core

34

Artery 2.0 acts as the second DMC alley improvement project that aims to enhance way-finding, increase safety, and improve the quality of the pedestrian experience in Downtown alleys. The project will include repaving the alley with stamped asphalt, adding string lighting and installing public art to create a new artery for Downtown.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

CCDC Public Art Grant $207,000 Public Art Under Construction 2019

T H E C O M M O N W E A LT H

35

240 Madison Ave. The adaptive reuse of the historic Medical Arts Building (also known as the Hickman Building) into a mixed-use project that includes 21,300 square feet of office space, over 5,000 square feet of retail/restaurant space, 40 apartments and 80 parking spaces. The anchor office tenant (and the primary developer) is Southern Sun Asset Management.

INCENTIVE

PILOT $16,340,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Under Construction

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

*

36

ARNOLD’S BBQ 331 Madison Ave. The renovation of existing building for use as a restaurant. Improvements included exterior signage, awnings, and outdoor seating.

*EMERGING DEVELOPER INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Exterior Improvement Grant $70,000

TYPE

Renovation

S TAT U S

Completed

COMPLETION OR EXPECTED COMPLETION

2017

BA K E RY P RO J E C T & GARAGE, ORION, LEO 400 Monroe Ave. The adaptive reuse of 376,000 square feet across six parcels in the edge district, including the historic Wonder Bread Factory at 400 Monroe, and the former Memphis Cycle Supply at 421 Monroe. Includes 286 apartment units, 480 parking spaces, and over 155,000 square feet of retail, office, and mixed-use space spread throughout the development.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

37

concept

PILOT, Garage Funding $73,062,000 Adaptive Reuse & New Construction Under Construction 2019

38

concept: Orion

T H E R AV I N E

39

North of Union by Century Tree Cidery A new multi-block linear urban park built on a former rail spur in the Edge.

concept

CCDC Development Grant

INCENTIVE

$5,730,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Public Space

TYPE

Planned

S TAT U S

2019/2020

COMPLETION OR EXPECTED COMPLETION

HIGH COTTON

40

598 Monroe Ave This project included the build out of a 1,000 square foot tasting room and facade improvements including signage, lighting, windows, doors, and decorative gate.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Storefront Grant $227,000 Adaptive Reuse Completed 2015

EDGE PUBLIC ART & STREETSCAPE Edge Neighborhood Wide

41

Public realm enhancements including a series of garage door murals. sidewalk etchings, streetscaping, and a districtdefining overhead sculpture that speaks to the neighborhood’s auto-centric past.

CCDC Public Art Grant

INCENTIVE

$350,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Other

TYPE

Completed

S TAT U S

2017

COMPLETION OR EXPECTED COMPLETION

K A R E N A DA M S D E S I G N 647 Madison Ave.

*

42

The adaptive reuse of a 12,140 square foot studio and production facility for Karen Adams Design, a local lifestyle design firm that creates stationary, cards, and other goods.

concept *EMERGING DEVELOPER INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Development Loan, Exterior Improvement Grant $1,503,000 Adaptive Reuse Under Construction 2019

EDGE MOTOR MUSEUM

43

645 Marshall Ave. The adaptive reuse of 645 Marshall Ave. into a non-profit museum dedicated to the preservation of historic cars, and education about the history of the automobile.

concept

Exterior Improvement Grant

INCENTIVE

$1,400,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Under Construction

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

* 44

THE MARSHALL 672 Marshall Ave. The adaptive Reuse of 672 Marshall Ave. into a mixed-use development with 4,100 square feet of commercial space in three bays and five apartment units.

*EMERGING DEVELOPER INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant $150,000 Adaptive Reuse Completed 2018

C E N T U RY T R E E C I D E RY 484 Union Ave.

45

The adaptive reuse of 6,800 square foot production cidery & 3,000 square foot tap room for a new craft cider company. The renovated building will include an outdoor deck and patio on the east side.

concept

Exterior Improvement Grant

INCENTIVE

$506,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Planned

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

UNION ROW Danny Thomas & Union Ave.

46

A master-planned mixed-use development, spanning a large area of land on Union, Beale, and Monroe. The three-phase project includes 350,000 square feet of class-A office space, 130,000 square feet of retail/restaurant space, a 200-room hotel, 793 apartment units, and 2,664 parking spaces. *2021 is the completion date for phase 1. Phases 2 and 3 do not have a projected date.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

TIF, Garage Funding $511,000,000 New Construction Planned 2021*

CANOPY HOTEL

47

164 Union Ave. A new-construction, 170-room, 5-story hotel on the long-blighted former site of the Benchmark Hotel.

concept

INCENTIVE

PILOT $42,973,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

New Construction

TYPE

Planned

S TAT U S

2020

COMPLETION OR EXPECTED COMPLETION

SERVICEMASTER

48

150 Peabody Place The adaptive reuse of the Peabody Place Mall into the global headquarters for ServiceMaster. The project includes 340,000 square feet of office space and 20,000 square feet of retail/restaurant space.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

PILOT, CCDC Development Grant, Parking Support $39,543,000 Adaptive Reuse Completed 2018

MLK STREETSCAPE I M P ROV E M E N T Doctor MLK Jr Ave. near Turley

49

Streetscaping improvements to Doctor MLK Jr Ave between Danny Thomas and Fourth to enhance walkabilitly and bikability of a critical corridor in Downtown.

concept

CCDC Grant

INCENTIVE

$200,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Public Space Improvements

TYPE

Planned

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

SOUTH CITY

50 The South City Choice Neighborhood Initiative (CNI) budget includes $167+ million for housing, about $25 million for neighborhood improvements and $18 million for social support programs. We created a new tool South City, modeled after the EIG. Our CCDC grant matches the Choice Neighborhood investment up to $250K - the program has a $500K pool.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

$250,000 Good Neighbor Grant $250,000,000 Choice Neighborhood Initiative Ongoing 2020+

*

51

UNIVERSAL LIFE 480 Doctor MLK Jr Ave. The adaptive reuse of33,000 square foot historic building for office use with developer using 20 percent of the space for their own offices.

*EMERGING DEVELOPER PILOT, Development Loan

INCENTIVE

$6,261,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Adaptive Reuse

TYPE

Completed

S TAT U S

2018

COMPLETION OR EXPECTED COMPLETION

* 52 concept

226 L AU D E R DA L E 226 Lauderdale The adaptive reuse of a 30-unit garden apartment building near the Universal Life building. Updates include paint, windows, fencing, and HVAC improvements.

*EMERGING DEVELOPER INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Development Loan, Exterior Improvement Grant $408,000 Renovation Planned 2019

CARPENTER LAW FIRM 386 Beale St

*

53

The renovation of a historic Beale St. building that serves as the offices of Carpenter Law. Improvements include exterior lighting, signage, and other building enhancements.

*EMERGING DEVELOPER Exterior Improvement Grant

INCENTIVE

$122,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Renovation

TYPE

Planned

S TAT U S

2019

COMPLETION OR EXPECTED COMPLETION

BOUTIQUE HOTEL ON BEALE 4th & Beale St. The new construction of a five-story hotel on Beale Street with 120 guest rooms and amenities that include a pool, fitness center, and a rooftop deck. The new building will replace a blighted vacant building.

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

54

concept

PILOT $16,088,000 New Construction Planned 2020

HOTEL INDIGO

55

22 N BB King St. The renovation of an original Holiday Inn into a boutique hotel with dining, meeting, and event space.

concept

Exterior Improvement Grant

INCENTIVE

$5,000,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE

Renovation

S TAT U S

Completed 2019

COMPLETION OR EXPECTED COMPLETION

*

56

ALLWORLD 60 N BB King St. The adaptive reuse of a 12,750 square foot existing building originally constructed in 1925. Building will serve as headquarters for Allworld Project Management.

*EMERGING DEVELOPER INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Development Loan, Exterior Improvement Grant $856,000 Adaptive Reuse Under Construction 2019

PINCH GATEWAY PUBLIC ART& LIGHTING

57

Main under 1-40 north of Winchester Feedback from DMC-led public input sessions indicated that the underpass at I-40 is a significant physical and psychological barrier to pedestrians entering the Pinch from the south. A public art and artistic lighting project will improve the quality of the pedestrian experience along North Main Street beneath the interstate and help reconnect Uptown and the Pinch District with the heart of the Downtown Core.

concept

CCDC Public Art Grant

INCENTIVE

$182,000

A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T

Public Art

TYPE

Planned

S TAT U S

2020

COMPLETION OR EXPECTED COMPLETION

COMEBACK COFFEE

58

358 N Main St. Exterior improvements, including an outdoor seating area, for a new coffee shop in the pinch district.

concept

INCENTIVE A P P R O X I M AT E I N C E N T I V I Z E D P R O J E C T C O S T TYPE S TAT U S COMPLETION OR EXPECTED COMPLETION

Exterior Improvement Grant $130,000 Adaptive Reuse Under Construction 2019

Downtown Memphis Commission - Developing Downtown for a better Memphis & Shelby County