Memphis Development News (Portland, Milan: houses, neighborhood, buying)

[sldream]

Yes they are pretty far along and it's quite impressive considering the scale. The old property didn't seem so massive but once everything was cleared you could see it was going to be something to behold from a construction perspective.

[jabogitlu]

https://www.memphisdailynews.com/new...ntown-memphis/

The historic Dermon Building at the northeast corner of Third Street and Court Avenue will be turned into a boutique hotel following a recent purchase. The Dermon Building, which has largely sat vacant for more than a decade, could see new life with a developer’s plan to renovate the building as a boutique hotel.

The 46 N. Third St. structure, which was built in 1925, is listed on the National Register of Historic Places due to its art deco and Renaissance-styled architecture. Real estate and bail bonding firms have occupied the lower levels, but the 10-story building has sat completely vacant for a few years and substantially vacant for well over 10 years.

This announcement comes after multiple hotel announcements in downtown recently. This article says that 10 have been announced, and Dermon would make 11.

[shinestx]

Really glad to hear about this one... it's a beautiful building.

[jabogitlu]

https://www.memphisdailynews.com/new...-boom-in-2016/

It’s been more than a decade since new apartments were built in Midtown, and that’s poised to change in a big way with a wave of new multifamily construction stretching from Binghampton to Crosstown.


“You’re going to see more happen in Midtown in the next three years than I’ve seen in my whole career,” said Jimmy Ringel, COO of Makowsky Ringel Greenberg, an owner and operator of multifamily property with significant Midtown holdings.

Good overview of Midtown's apartments coming online. According to the article, that includes:

1. Crosstown Concourse
2. Belz's development at Union/McLean
3. Apparently some type of development at Madison/McLean from MRG (has anyone heard about this?)
4. MRG's anticipated announcement over at North/East Parkways.
5. Loeb apartments at Overton Square (again, I haven't seen an announcement ...)
6. Highland Row over at the U of M (hardly Midtown, but they're counting it)


One of Midtown's strengths has always been low rents, so it'll be interesting to see how these units fare in the market and if they all actually will be built. It's comforting to know that, as always, Memphis is able to absorb potential gentrification with relative ease - there will still be that 2/1 Cooper Young house that rents for $900 and has a bathroom from 1982.

[TheKernel91]

The Overton Square apartments was first mentioned late summer. Not sure if anything else have been said since.
No vacancies: Overton Square 100% leased with tenants


I posted these on another forum site.

https://www.youtube.com/watch?v=syMt3BjmFi0

https://www.youtube.com/watch?v=AMojxxYLekg




There's more recent development not posted here, I need to find the time and post them.

[jabogitlu]

Memphis Music Magnet pinpoints Soulsville

Memphis isn't awash in announcements about new towers going into downtown, but a lot of work is going on across the city in neighborhood development and community building. This feature on Soulsville is a good example, but additional articles could be written about South Main, Overton Square, Crosstown, or the University District.

[eastmemphisguy]

I wish Soulsville all the best. It's a tougher nut to crack than Crosstown or South Main or even Binghampton. Not being on the Union/Poplar corridor is a huge disadvantage.

[jabogitlu]

Possibly true, but Soulsville is different than these others in that it's place-driven. It's development for the people that live there, by the people that live there, in order to foster creativity for themselves. (Well, the exception is Stax.) In that regard, not being on Union/Poplar may not matter quite so much. At any rate, it's an important neighborhood to watch, as Memphis' long term livability and sustainability depends on re-integrating those "off-axis" neighborhoods back into the City's larger mental map. JMHO!

[USERXXXX]

Originally Posted by jabogitlu

Possibly true, but Soulsville is different than these others in that it's place-driven. It's development for the people that live there, by the people that live there, in order to foster creativity for themselves. (Well, the exception is Stax.) In that regard, not being on Union/Poplar may not matter quite so much. At any rate, it's an important neighborhood to watch, as Memphis' long term livability and sustainability depends on re-integrating those "off-axis" neighborhoods back into the City's larger mental map. JMHO!

I have a hard time understanding why Sears Crosstown project can be a viable project by using "non-profit" theme....I was thinking that would be a casino..

[BirdieBelle]

Originally Posted by USERXXXX

I have a hard time understanding why Sears Crosstown project can be a viable project by using "non-profit" theme....I was thinking that would be a casino..

Casinos are illegal in Tennessee.