The 99-year-old Dermon Building is one step closer to becoming a Holiday Inn Express, and the Ballard & Ballard Co. building is getting a facelift. 

Renovation of the 792,873-square-foot building will now cost more than $282-million, a 7% increase from the previous budget when presented to the Downtown Mobility Authority in 2022.

Compass Intervention Center is growing. Plus, Kemmons Wilson Regional Shopping Center has a new occupant, and a Peabody Avenue apartment building has been sold. 

The shortage of houses on the market, price increases and the rise of interest rates have resulted in a national trend of declining home sales, said the president of the Memphis Area Association of Realtors.

A hotel expert thinks the Sheraton could be a “really good opportunity for a buyer under the right circumstances.” 

Despite receiving a 30-year pilot, the owners of the hotel at 250 N. Main St. are planning to sell.

Kennedy View Retail Center and a Bartlett office building have been sold, a new tenant is at Goodlett Farms Parkway and 666 Riverside Drive will become an indoor climate-controlled storage facility.

The new hotel, the second in Arlington, will open Valentine’s Day at the Interstate 40 and Airline Road interchange.

The lender for the 109-townhome section, dubbed The Willows at the Lake, has taken back the property from The Lake District developer Yehuda Netanel.

A 2,500-space parking garage will be built in the eastern part of the St. Jude campus, and the Chick-fil-A Downtown is one step closer to construction.

Insight Global moves into TraVure, Chase Bank proposed to be in Cordova and TwelveStone Infusion Clinic is moving into the Wolf River Medical Building. 

When completed this summer, the Avaline at River Oaks will have 90 assisted-living and 24 memory-care apartments managed by Claiborne Senior Living.

The $1.5 million sale expands office space for Memphis Tourism, which keeps its office just 120 feet away and allows Memphis in May to remain in its headquarters after a year of big changes in the festival.

Victory Packaging leases spaces in the Intermodal Distribution Center, Tropical Smoothie coming to Raleigh, and a new three-tenant retail development planned for Oakland.

In December, the average sales price for a house was $262,144, up 6.2%. 

The new design will be a four-story apartment complex with 126,762 square feet of rental space, 243 apartment units, a two-and-a-half-story parking garage with 260 spaces and less amenity space. 

A Mercedes-Benz Van Center opened in Memphis, a new health facility is planned for Whitehaven and River Horse Logistics is leasing space in Lamar Industrial Park.

The Lipscomb & Pitts Building sold, Kukuruku Chicken is coming to the Bartlett Town Center and warehouse distribution company Foxridge is expanding.

He came to Memphis in 1964 without a job but four interviews with architectural firms. Each offered him a job.

Chicken and waffles and cheesecake are now all together at Fannie Lou’s.

The project is being directed by the not-for-profit Poplar Corridor Business District Association of Owners using tax increment financing the group was awarded in 2018 from the Economic Development Growth Engine for Memphis & Shelby County.

“It builds upon the experience that I’ve had,” Chandell Ryan said. “I am passionate about Memphis and passionate about Downtown Memphis.”

Champion Hills Office Park is sold, Golden Beauty will open its sixth location at the former Staples in the Wolfchase Galleria, AIC Industrial buys property in Olive Branch and Skechers comes to Forked River Commons. 

Phoenix Investors acquires and renovates former manufacturing facilities nationwide. The vacant Memphis Electrolux plant is next on its list. 

Opened in 1976, Chickasaw Oaks was designed to celebrate the nation’s bicentennial. The shopping arcade has been refreshed with property upgrades and a host of new retailers.