All bids in for 100 N. Main
The period for bids on Memphis’ tallest building is over, culminating in 11 offers.Related story:
There are 45 article(s) tagged 100 North Main:
The period for bids on Memphis’ tallest building is over, culminating in 11 offers.Related story:
The group intends, if its bid is accepted, to invest around $267 million to revitalize one of the city’s most alluring pieces of commercial real estate.
The Downtown Memphis Commission released its request for proposals from any developers considering buying and redeveloping the 100 North Main Building as well as the entire city blocks it stands on.
On “Behind The Headlines,” the incoming CEO of the Downtown Memphis Commission says federal pandemic relief funding due the city will likely make up the loss. The drop in sales tax revenue for the TDZ comes as sales tax revenues across the city have exceeded bleak projections at the outset of the pandemic.
Commission also approves the appointment of Dr. Marco Ross as Shelby County medical examiner.
“This will allow us to get rid of a black eye that exists right in the heart of our Downtown,” said the DMC’s interim president.
The Daily Memphian City Council Scorecard tracks three council decisions this week on major issues including what to do with the 100 North Main Building, a state law that would allow police and firefighters to live outside Shelby County and how, or if, to judge the Health Department as the city takes over vaccine distribution.
The city plans to offer the property to developers once the sale from THM Properties of New York City closes. Demolition of the part of the city’s skyline is also an option.
The items added Monday evening to the council’s committee list include $1 million in funding for the city’s vaccine ramp-up. They join what was already a busy council day, including the 100 North Main building, street racing and sewer fees.
The council votes next week on the further use of a PILOT extension fund already being tapped for $62 million for four Downtown parking garages. Meanwhile, one of the banks involved in financing the garages wants some more loan guarantees, which includes a proposed TIF.
The Tuesday, Feb. 23, council session also includes final votes on a set of ordinances cracking down on illegal street racing and possibly a continuation of council discussions with MLGW about the city’s water crisis.
The interim president of the Downtown Memphis Commission addressed “the big thing out there,” the proposed purchase by the Downtown Mobility Authority of the empty 100 North Main office tower, parking and adjacent properties. Ray Brown called 100 North Main “an enormous source of blight.”
The city would seek proposals from developers, but has no preference whether Memphis’ tallest building is demolished or redeveloped.
The resolution from Memphis Mayor Jim Strickland going to City Council next week would include the city’s tallest building in the use of a PILOT extension fund and also include a parking garage in the “Snuff District.”
City Council members got their first look at the details of Accelerate Memphis on Tuesday, Jan. 26.
City Council members Tuesday will consider banning puppy sales as the only national pet store chain that sells puppies is readying a Wolfchase store. The council also gets an update on the vacant 100 North Main Building and talks over the latest changes to the city’s sewer system.
A 500-room, 17-story Loews Hotel proposed for Civic Center Plaza won approval by a Memphis zoning board Thursday, Oct. 10.
With the City of Memphis and Loews Hotels close to a development deal on a convention center hotel, 100 North Main's alternate proposal is viewed as Plan B.
It's a building that could become a beautiful part of what’s next, or remain the biggest ugly elephant in our biggest room.
Townhouse Management Co. says 100 North Main would cost less in public incentives to retrofit as a convention center hotel, compared to the planned Loews on Civic Center Plaza.
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