Council approves sale of 100 N. Main to city
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.
There are 14 article(s) tagged Jennifer Oswalt:
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 Downtown Memphis Commission board may meet in a special called meeting over the next few weeks to consider the search committee’s selection.
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 city would seek proposals from developers, but has no preference whether Memphis’ tallest building is demolished or redeveloped.
First, Chance Carlisle dropped his plan for an office tower at One Beale. More recently, he scrapped his plan for a tower that would have housed 150 hotel rooms and 240 apartments and condos. Now, he plans to build a 350-room Grand Hyatt hotel that would double as an extraordinary landmark for Beale Street.
Architect and urban planning consultant Ray Brown will serve as Downtown Memphis Commission’s interim president for up to six months starting Jan. 1.
Tom Intrator, 18 S. Main developer, took the concept of aligned development to City Council members Tuesday as they reviewed a unique tax incentive for the $1.1 billion project that is a PILOT used like a TIF.
Extra to our Special Report: Unlike Memphis, some cities dig deep into the backgrounds of developers seeking public incentives.
Downtown Memphis has more than adequate parking, but access to the lots, signage and condition of facilities are often so unsavory, many users believe parking in the city core is frustrating at best, dangerous at worst.
The Downtown Memphis Commission is negotiating with the tour company it forced out of the W.C. Handy House in February, while the musician's family continues to push for changes after years of complaints the property is being ignored.
Union Row developers are a step closer to a $50 million loan for a 2,200-space parking garage following a County Commission committee recommendation Wednesday.
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