Re-Developing Downtown Memphis

The Memphis Business Journal recently published an article highlighting the latest buzz in Downtown Memphis redevelopment.

"Betting on the success of Uptown to spur interest in living in the north end of Downtown, a group of developers is set to build a condominium project in the heart of the Pinch District.

Barnett Naylor Construction Services Group will build Harbor Lights, a $5 million, 24-unit condominium development, at the corner of Front Street and North Parkway, directly across the street from the Pyramid arena.

The developers expect to break ground on the project in March and be open a year later. The condos will range in size from 1,200-1,700 square feet and cost $200,000-$350,000.

Tammy Morgan of Naylor Construction is high on the area, citing St. Jude Children's Research Hospital's expansion and the continued emergence of Uptown. The company has offices on Front Street in the Pinch.

"This is where we're concentrating some of our efforts," Morgan says. "St. Jude is here and is a big player in this part of town. They are going through an expansion and all those doctors and researchers will need a place to live."

St. Jude is in the process of a $1 billion, five-year expansion that is doubling the size of the original campus.

"By putting in a residential unit like this, we hope it kicks off more development," Morgan says. "I think when we break ground on this people who have been waiting on the edge will jump in.""

Click Here to link to the full article.

The full article was published by Amos Maki, Memphis Business Journal updated Jan. 16, 2005.