I began 2020 casting a vision for a new decade of Downtown Memphis. Hopes were high, development projects were confidently underway, and new opportunities were being uncovered across our community.

I still have high hopes for this decade, but this COVID-19 reality has quickly refocused how we view the day-to-day Downtown and city. One thing that has never been clearer, however, is the inter-relatedness of our assets and people.

Every step and every layer is essential. From developers planning to contractors building and end-users buying in; from the banks administering loans to the small business owners and entrepreneurs and restaurateurs who fuel and feed our culture. 

46 Downtown businesses given $260,000 to help survive pandemic

One of the core missions of the Downtown Memphis Commission (DMC) is to activate our Downtown. This activation is largely driven by our robust tourism activities and destinations, entertainment and leisure offerings, and culture-rich dining and bar scenes.

The opportunity to fully experience these offerings outside of our homes has vanished for the moment. Our economic and health realities have curtailed daily activity Downtown, but not our long-term vision.

In the short term, DMC quickly implemented new tools and provided emergency relief through our Downtown Business Continuity Forgivable Loan program and 90-day PILOT extension, understanding that financing and other variables may become more difficult during uncertain times. We are confident these moves can serve as a bridge to a solid path ahead.

$65,000 in forgivable loans approved for 13 Downtown businesses

Our Downtown businesses recognize that we need each other in order to continue on the trajectory we were on and are demonstrating it with their generosity in the toughest of times: our forgivable loan recipients are willingly accepting less money so their fellow Downtown businesses can also benefit.

Their actions reflect the true nature of a Downtown for everyone. Nothing is successful in isolation. These businesses, which fuel and foster a day-to-night culture and ecosystem, are authentically connected. These Downtown neighborhoods, from the emerging Snuff District north to the growing Edge District east, are proactively fostering connection through pathways and parks, streets and greenspaces, which welcome socially distanced recreation as we reconsider our mobility options for an ever-changing lifestyle.

Downtown agency rushes love and money to distressed businesses

Despite the quiet pedestrian traffic, cranes are moving daily on One Beale, FedEx Logistics’ headquarters is nearing completion, and revised, mediated riverfront plans are being finalized for a summer reveal.

Union Row continues to advance as not only a generator of buildings and businesses but also a connector and provider to our neighboring South City community. Together with Start Co., City of Memphis and University of Memphis, the $50 million “smart city” plan for Union Row will include access to laptops and internet for 1,000 South City families. Activity to build this Downtown for everyone continues.

The connection point currently missing is you: our pedestrian vibrancy – our employees and visitors. But, when you come back, you can be sure we’ll have something for you. 

We look forward to seeing you soon.

The DMC is solely funded by an assessment on commercial property in the Central Business Improvement District, which is reinvested into funding incentives to support growth of both Downtown’s population and appraised commercial property values. Visit downtownmemphiscommission.com.