THE
EDGE DISTRICT SUMMER 2021
MEDICAL DISTRICT
EDGE DISTRICT
THE PLACE
The Edge District sits in the core of the Medical District – an eclectic mix of historic buildings set against a walkable, intricate street network and a distinctly Memphis vibe.
The Edge is home to a rich legacy of distinctly American artifacts: rock ‘n’ roll, muscle cars and colorful design. Within its compact footprint sits Sun Studios (which attracts over 600,000+ visitors each year), Sam Phillips Recording, the Edge Motor Museum, and a growing web of art galleries, restaurants, small businesses, breweries, and residential developments.
AREA OVERVIEW BOUNDARIES
City: Memphis, TN
District: Memphis Medical District
Neighborhood: Edge District
S4thSt
MadisonAve
UnionAve
N Manassas St
1 40 69 51 POPLAR AVE MADISON AVE MANASSAS ST COMPLETED PROJECTS INSTITUTION EXPANSIONS 1 Methodist Le Bonheur Healthcare 5 Orion Headquarters 6 Leo Events 7 Cycle Shop 8 The Ravine 2 University of TN Health Science Center (UTHSC) 5 8 9 3 9 Karen Adams Designs 7 3 St. Jude Children’s Research Hospital/ALSAC 6 10 The Marshall 11 616 Marshall 1 2 2 2 3 4 Shelby County Health Department 12 4 DISTRICT
(select projects) PROJECTS UNDER WAY The Rise Apartments MMDC INVESTMENTS North Poplar Project 1338 Union Ave 17 18 Malone Park 19 10 11 12 17 18 19 631 Madison 644 Madison 13 14 655 Marshall 15 13 14 15 16 Orleans Station 16
DEVELOPMENT
EDGE DISTRICT INVESTMENTS
Name/Location # of Residential Units Commercial SF 405 Monroe Ave - 8,000 644 Madison Ave 4 10,500 631 Madison Ave 4 1,700 655 Marshall Ave - 5,000 616 Marshall Ave - 25,000 628 Madison Ave 17 8,000 Orleans Station 372 16,000 433 Madison Ave 3 3,200 Cycle Shop - 29,000 757 Court Ave 30413 Monroe Ave 1 7,000 TOTALS 431 113,400 COMPLETED PROJECTS TO DATE** Residential Units – 205 Commercial SF – 150,000 ANTICIPATED PROJECTS** Residential Units - 431 Commercial SF – 113,400 5-YEAR DEMAND (2017 – 2021)* Residential Units - 2,050 - 2,635 Retail SF – 197,300 *Projections for entire Memphis Medical District **Projects in the Edge District MEDICAL DISTRICT
ANTICIPATED PROJECTS
MEDICAL DISTRICT
EDGE DISTRICT
THE OPPORTUNITY
The Edge has been the focal point of renewed investment and development in recent years. New proposed and/or inplanning residential projects are anticipated to bring an additional 400+ units to the area. Public spaces such as The Ravine are acting in concert with additional green space initiatives, and commercial opportunities continue apace.
As the pace of development continues to grow, opportunities abound for businesses to meet the needs of what is quickly becoming a 24/7 community.
EDGE DISTRICT
POTENTIAL INCENTIVES
MMDC INVESTMENT FUNDS
◎ Pre-development grant
◎ Façade improvement grant
DOWNTOWN MEMPHIS COMMISSION (DMC) FUNDS
◎ Payment In-Lieu-of Tax (PILOT)
◎ Exterior Improvement Grant (EIG) ◎ MDD Capital Debt Fund ◎ MDD Investment Fund
◎ Retail Tenant Improvement (TI) Grant
◎ Central Business Improvement District (CBID)
EDGE (Economic Development Growth Engine)
Additional small business support programs
EDGE DISTRICT: COMMUNITY INVESTMENTS + IMPROVEMENTS
Financial Orion Federal Credit Union Preserver Partners Food/Beverage C-Lou Patton's House Chef Tam’s Underground Café Craft Axe Dominos Evelyn & Olive Edge Alley High Cotton Brewing Co Sabor Caribe Slim & Husky’s Pizza and Beeria Social/Religious Services Riverdeep Church Door of Hope Other Bluff City Tattoo Mutt Island Sam Phillips Recording Studio Retail Nine01 II Five04 Tourism/Venues Blues City Tours and Transportation Edge Motor Museum Premiere Palace Sun Studio On the way ◉ Inkwell ◉ Memphis Made ◉ Sweet Magnolia Gelato EDGE DISTRICT BUSINESSES Automotive Auto Wreck Experts J & L Auto Services Tracy’s Foreign Auto Service Design/Events Marshall Arts Baby Grand Holliday Flowers & Events Karen Adams Design Leo Events Memphis Plating Works PKM Architects Wonder Co work Create Fitness Metabolic Crossfit 1 5 6 7 8 2 9 3 10 11 4 12 13 17 18 19 20 14 21 15 22 23 16 24 25 30+ businesses located in the Edge District 11 12 26 27 28 29 30 31
TRANSPORTATION IMPROVEMENTS
Real-Estate Capital Fund $400 K (11%) Recent and/or Planned Project Leads Timeline Union Ave BRT City of Memphis | MATA 2023 - TBD Upgraded bus shelters MMDC 2021 Groove on-demand DMC | MMDC | City of Memphis February 2021 1 2 3 EDGE DISTRICT
PUBLIC SPACE & STREETSCAPE IMPROVEMENTS
Real-Estate Capital Fund $400 K (11%) 1 2 3 Project / Location Project Leads / Partners Timeline Health Sciences Park Memphis Greenspace, MMDC 2020 - current Edge Triangle MMDC 2017 - current The Ravine | Linear Park DSG, PGK 2022 - 2024 Jefferson Avenue repaving TDOT, City of Memphis Slated spring 2023 Madison Avenue repaving MMDC, DMC, City of Memphis Slated spring 2022 Manassas St maintenance MMDC Ongoing EDGE DISTRICT
4 5 6
EDGE DISTRICT
MAINTAINING COMMUNITY
MMDC’s Ambassador Program
Pedestrian safety
BE AWARE CAMPAIGN
◎ District ambassadors
◎ Circulate District 5 days per week
◎ Beautify the District
◎ Offer hospitality service
◎ “Eyes on the street”
MMDC supports Memphis’ first application of the Vision Zero campaign, a strategy to eliminate all pedestrian fatalities and severe injuries while increasing safe, healthy, equitable mobility for all.
Be Aware seeks to raise awareness of pedestrian safety in the Medical District through five strategies:
Neighborhood Association
The Edge District Neighborhood Association is one of the City’s organized neighborhood associations. In addition to the association, the MMDC programs greenspaces in and around the Edge District.
1
◎ Engineering ◎ Enforcement ◎ Education ◎ Equity ◎ Engagement 2 3
EDGE DISTRICT
IN THE MEDIA
(select media, 2018 - present)
PRESS
The Edge District continues to make headlines in a variety of media outlets throughout the City of Memphis :
Real-Estate Capital Fund $400 K (11%)
EDGE DISTRICT: RECENT REAL ESTATE INVESTMENTS & DEVELOPMENTS
Formerly
COMPLETED PROJECTS The Rise Apartments Edge Alley 1 2 OVERVIEW
apartment
garage Uses:
Cost:
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT
The Rise is a boutique collection of nearly 199
units and a 480-space public parking
Residential
$64.5M OVERVIEW
a vacant space turned into a retail and art space, a restaurant, and a coffee roastery
Leo Events 3
Uses: Commercial Cost: $225K
OVERVIEW Headquarters for national event production firm
Uses: Commercial office Cost: $1.9M
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT
Mixed-use incremental infill providing office space, commercial storefronts and six residences
Uses: Mixed-use
Cost: $815K
OVERVIEW
Adaptive reuse of factory into office headquarters housing over 70 FTE
Uses: Commercial office
Cost: $5.8M
OVERVIEW
Adaptive reuse into office space for financial services firm housing a team of 10 FTE
Uses: Commercial office
Cost: $877K
Orion Federal Credit Union The Marshall 4 5
COMPLETED PROJECTS
OVERVIEW
Preserver Partners 6
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT
Renovation of a 12K SF building for KAD – creator and distributor of stationery goods, desktop accessories, lifestyle design
Uses: Office space for company's 10 full-time employees, space for shipping and warehousing. Cost: $1M OVERVIEW
Museum home to classic car collection, playing off automotive history of neighborhood
Fast casual, artisan pizza shop with a love for hip hop & R&B culture
Uses: Restaurant
Karen
7 8
COMPLETED PROJECTS
Adams Design
OVERVIEW
Edge
9
Uses: Museum Cost: $1.4M
Motor Museum
OVERVIEW
Cost: $960K
Slim & Husky’s Pizza Beeria
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT
UNDER CONSTRUCTION
644 Madison Ave
OVERVIEW
Two-phased development including renovation of standing 10.5K SF retail, 3K SF residential building (Phase I), with anticipated infill residential development to complement (Phase II)
Uses: Mixed-use
Cost: $1.5M (Phase I)
OVERVIEW
Conversion of old music club into multipurpose venue
Uses: Potentially arts, music, and hospitality venue
Cost: TBD
OVERVIEW
Renovation of building in Edge neighborhood adjacent to Sam Phillips Recording Studio
Uses:
Four residential units with planned leisure and street-facing hospitality
Cost: $878K
631
616 Marshall Ave
Madison Ave 3 2
1
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT
UNDER CONSTRUCTION
Reimagined railroad right of way into public space with amphitheater, kiosks, and playground in park-like setting
Uses: Public space
Cost: $5M
A former glass factory. A 35,000 SF property that will be adapted into office and recreational space at a cost of $2.5M that includes Memphis Made Brewery
Uses: Brewery taproom
Cost: $2.5M
Incoming storefront of Sweet Magnolia Gelato Co
Uses: Gelato shop
Cost: $815K
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OVERVIEW
The
Ravine OVERVIEW
4 435 Madison Ave 8 OVERVIEW
655 Marshall Ave
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT
UNDER CONSTRUCTION
Orleans Station
OVERVIEW
Mixed-use development containing apartments, retail, and a plaza for UTHSC and Medical District residents
Uses: 372 apartments, 16,000 SF of retail, and a plaza Cost $66.5M
9
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT PRE - DEVELOPMENT
OVERVIEW
Former woodworking shop being reimagined as an artsfocused event space
Uses: Workshop, gallery and event space
Cost: TBD
OVERVIEW
8,000 SF space with ideally retail on the first floor and residential unit on the second floor
Uses: Mixed use
Cost: TBD
5,000 SF renovation that is anticipated to be mixed use with tenant office space and residential units
Uses: Mixed use
Cost: $925K
405 Monroe Ave 413 Monroe Ave 2 1
OVERVIEW
433 Madison Ave 3
DEVELOPMENT IN AND AROUND THE EDGE DISTRICT
PRE - DEVELOPMENT
OVERVIEW
The Cycle Shop is envisioned as the center of creativity, connectivity, and collaboration.
Uses: Plans include restaurant/café/bar and office space
Cost: $3.8M Cycle Shop 4
Cost: $3.1M
757 Court Ave 5
628 Madison Ave 6
OVERVIEW
30+ unit development situated on .37 acres
Uses: Residential
OVERVIEW
Home of Evelyn & Olive restaurant. Residential units on top
Uses: Mixed-use
Cost: TBD
EDGE DISTRICT: DEMOGRAPHIC & HOUSING TRENDS
STUDY AREA OVERVIEW
LAND USE
Over half of the parceled land in the Edge is dedicated to commercial and mixed uses. A significant share (32%) of the land is dedicated to industrial land uses. Nearly 20% of the land is dedicated to exempt land uses, most of which is University of Tennessee Health Sciences.
Land use 52% (23 Acres) Commercial/Mixed Use 18% (36 Acres) Exempt Land (Non-profit, charitable and other tax exempt institutions) 32% (64 Acres) Industrial
Sources: City of Memphis, 2018 3% (6 Acres) Residential S4thSt 51 MonroeAve MadisonAve UnionAve S Danny Thomas Blvd S Lauderdale St MarshallAve N Manassas St AutoZone Park Health Sciences Park
STUDY AREA OVERVIEW
MAJOR HIGHWAYS
The Memphis Medical District Collaborative Anchor Institutions and other businesses collectively represent over 33,000 employees, 8,000 students and over 10,000 residents. A majority of the 51,000+ employees, students, and residents commute by car.
Of the approximately 33,000 people working in Memphis Medical District, 1.6% also reside there, meaning 98.4% commute in from other locations.
Most (61%) of these commuters are traveling greater than 10 miles to work, and in terms of geography, they come from a variable spread of communities east of the Edge District.
Daily traffic counts data indicate that most commuters are entering the district by way of Interstate 40, Interstate 69 and Union Ave.
Daily Traffic Counts
Primary US and State Highways
Primary Limited Access or Interstate
40 69 MMDC
Study Area
(Memphis Medical District Collaborative)
Sources: ©2021 Kalibrate Technologies (Q4 2019). U.S. Census Bureau ACS 2019 (5 -Year Estimates) 51,730 Union Ave 18,900 38,350 129,000 75,680 22,710
Uptown Downtown Memphis Harbor Town (a.k.a. Mud Island) Crosstown Overton Park Midtown Central Gardens Annesdale Park Medical District Study Area
DEMOGRAPHIC & HOUSING TRENDS
OVERVIEW
Population (Change 2010 to 2019)
Density (People Per Square Mile)
(Change 2010 to 2019)
Memphis2 652,000 (+1%)
Memphis2 2,070
Households
Memphis2 251,730 (+0.6%) (57% Family) Median Age Memphis2 34 White Black Other Population Density By Race 1 Dot = 10 People Medical District Edge District Medical District2 10,630 (-15%) Medical District1 3,292 Medical District1 450 (32% Family) Medical District1 29 28 % 69% 3% Memphis 24 % 69% 7% SOURCE:
ESRI Business Analyst Estimates based on ACS block group level data trends, 2018 2 US Decennial Census 2010, American Community Survey, 2019
Total
Population
1
DEMOGRAPHIC & HOUSING TRENDS
HOUSING PROFILE
Residential Mixed Use Other Uses Land Use Medical District Uptown Downtown Memphis Mud Island Crosstown Overton Park Midtown Central Gardens Annesdale Park Edge District Edge District1 Total Housing Units: 530 Tenure (2019) 3% 11% 86% Renter Owner Vacant 8% 21% 71% Medical District2 Total Housing Units: 7,500 39% 16% 45% Memphis2 Total Housing Units: 299,900 Units In Structure (2019) 68% 1 2 3 to 4 5 to 9 10 to 19 20 to 49 50 or More 65% 2% 7% 11% 6% 2% 5% 20% 3% 9% 15% 9% 7% 37% Apartments (10+ Units) 1997 Median Year Built Single Family (60% Detached) 1970 Median Year Built Apartments (10+ Units) 1960 Median Year Built SOURCE: 1 ESRI Business Analyst Estimates based on ACS block group level data trends, 2018 2 US Decennial Census 2010, American Community Survey, 2019 52% 84% 65%