The Lake District continues to suffer financial problems, according to a report to the Lakeland Board of Commissioners.

Gloss Nail Bar to get its fifth location in Eastgate, Taziki’s comes to The Falls in Arlington, Five Below comes to the Commons and Air Fayre Memphis gets a distribution center. 

Cynthia Ham, the former CEO of BRIDGES, has big plans for the Central Avenue home and garden store.

EDGE approves the purchasing and refurbishing of the Sterick Building’s parking garage, an amendment to DMN’s Fast Track tax incentive and ICED loans for local eateries. 

“I’m excited to bring a little more density to the area,” said developer Alfredo Cerpa. “But not just come with a new modern thing, but integrate what is existing in the community.” 

Although home sales decreased by 259 sales from October to November 2023, Memphis-area home sales for November increased 1.8% from a year ago, with 1,230 total sales. 

The Kimbrough Center is being renovated, Lakeshore Learning is coming to Memphis and Concentric LLC brings the occupancy rate to 95% in the Acee Business Center.

To help launch the historic skyscraper’s redevelopment project, the EDGE board will refurbish a neighboring garage for $4.2 million. The Sterick will share the parking spaces with an existing hotel. 

The former Northside High School will contain 42 affordable residential units, two-court gymnasium by Dream Sports, performing arts center, food hall by AR Hospitality, LifeDoc health clinic and more.

Also, the Mid-South Carpenters Regional Council is relocating and will be able to host more carpentry apprentices in its new space, and a national public-accounting firm is moving to the Renaissance Center in East Memphis.

The grocery store would be the chain’s first in the Mid-South.

Related story:

Hy-Vee grocery store chain eyeing Bartlett location

Economic development has surged in the Memphis area following the COVID-19 pandemic-induced slowdown. That was the message at a seminar hosted by The Daily Memphian Thursday, Nov. 30. 

The $261 million project is expected to be completed by early 2027.

Rachel’s has been a fixture on Poplar Avenue since 1993 but it will close to walk-ins at the end of the year. The clothes closet, food pantry and storehouse of furniture in the florist’s back building — for people who were hungry, cold or moving into apartments with nothing — will close when the shop does.

This week’s Inked features new leases at Union Avalon Shopping Center, a new Dollar Tree, a new Footlocker and a retail center/warehouse project.

Byhalia Commons is south of Tenn. 385 on the west side of Byhalia Road and bordered by Collierville Road to the south. The condominiums are east of Town Square near Washington Street and Mount Pleasant Road.

Mark Halperin’s longest relationship with a tenant lasted 46 years, almost the entirety of his career, all of it with Boyle Investment Company. 

PURE Academy’s new campus will have 10 times the school’s current capacity. Also, a building at the corner of Kirby Parkway and Winchester Road will be “activated” with some new tenants.

Interest rates and other factors have led to a slowdown in the Memphis-area housing market. But experts believe the situation is not as troublesome as the Great Recession.

Local commercial real estate experts will discuss how many businesses are building the spaces they will occupy themselves and how work from home is affecting office space in Memphis. 

Real estate agents here are closely watching a battle in Missouri, where a jury last month agreed that several real estate firms and the National Association of Realtors had conspired to inflate Realtors’ commissions, driving up sales prices.

Owners of the historic building unwittingly created an uproar by starting to paint the brick. But they’re fine with a plan to restore the original facade at the future Tekila Modern Mexican restaurant site.

It is one of the city’s largest Black-led developments in a predominantly Black neighborhood, said The Works president Roshun Austin, who will oversee the project.

According to a site plan, the Poplar Avenue location would have two drive-thru lanes with no access to the site from Poplar. If the new location is approved, the chain would close its current Collierville location.

The Downtown Memphis Commission and the Downtown Mobility Authority plan to host a kick off event at the end of the month to start exterior work.