VOL. TMN-9 | NO. 15 | Saturday, April 9, 2016
Commercial real estate projects dot Memphis landscape
The Memphis development community is looking inward and upward to increase density in the urban core. New construction is happening across all four commercial real estate sectors, with long-anticipated projects like Trader Joe’s and the redevelopment of Central Station finally coming to fruition. Construction and operating costs continue to be a challenge as new projects hit the top of their class to command higher rents.
The Memphis Zoo is suggesting the city general services maintenance yard on the east side of the park be used as a parking area and a second greensward with “eco-friendly options” that “are not disruptive to the park” to get zoo patrons from there to the zoo.
The city of Memphis entity that sold $12 million in municipal bonds on behalf of Global Ministries Foundation has been told it can no longer conduct such business.
Josh Pastner is officially the new head coach at Georgia Tech and the University of Memphis is officially in the coach search business.
ATLANTA (AP) – Josh Pastner isn't promising a quick fix as Georgia Tech's basketball coach.
The Shelby County Election Commission voted Friday, April 8, to hire Linda Phillips, a former county clerk in Tippecanoe County, Ind., to be the next Shelby County elections coordinator.
Some 2,500 new employees start jobs each year at employers in the Memphis Medical District, and about 1,300 new students each year start hitting the books at educational institutions there, too.
MEMPHIS, Tenn. (AP) – Officials in Tennessee say public works crews have fixed a second sewage leak discovered in the area where a larger pipe broke and sent millions of gallons of untreated wastewater into a creek and lake.
MILWAUKEE (AP) – Federal regulators have approved media company Gannett's purchase of newspaper company Journal Media Group for $280 million.
THE MEMPHIS NEWS EDITORIAL
Sixty-one homicides in 90 days, including a March death that was classified as a homicide by police on the other side of April.
The Shelby County Health Department has confirmed the first case of the Zika virus in Shelby County.
THE MEMPHIS NEWS ALMANAC
1976: The Memphis Light, Gas and Water Division board takes the first step toward pursuing federal funding for a coal gasification plant in Memphis. Federal funding totaling $2.8 billion is available to build eight of the plants, each using a different method for coal to liquid or gas fuel starting in the 1980s.
Parking, traffic solutions reach all corners of Overton Park
If a crowd shows up some place other than the Greensward, is it a busy spring in Overton Park?
An Overton Park traffic and parking study released Tuesday, April 5, recommends a phased-approach to creating more parking in and around the park, better coordination of traffic patterns and then a likely move to a 300-space, $7.8 million parking deck on Prentiss Place Drive off McLean Boulevard at the end of 2017.
The lawsuit filed in the name of Susan Lacy and Stephen Humbert, two Memphis residents, argues the action should be voided by the court because the council allegedly violated the state’s open meetings law.
REAL ESTATE & DEVELOPMENT
Before Lakeland became a city, it was the Lakeland Amusement Park. A California-based developer is bringing back that original flair with his proposal for The Lake District, a 165-acre mixed-use development.
More residences are planned for the South End. Home builders Hamilton & Holliman, on behalf of property owners David and Stacy Petringa, recently submitted plans for a 10-lot subdivision at 27 West Carolina.
This week, a “rural oasis” opens for business in the middle of Downtown Memphis. That’s developer Taylor Berger’s vision for Loflin Yard, an acre-wide outdoor destination with pit barbecue, live music and barrel-aged cocktails.
The Pinch District, one of Memphis’ oldest neighborhoods, is getting its time in the spotlight.
REAL ESTATE RECAP
1215 E. Shelby Drive, Memphis, TN 38116, Sale Amount: $4.3 million -
Southland Mall, Memphis’ first enclosed mall when it opened 50 years ago, has sold for $4.3 million in foreclosure.
This is a Memphis story. And by now it should be clear that Bill Courtney loves a Memphis story.
One of the goals of Memphis’ EPIcenter entrepreneurship organization is to make sure the focus and discussions around supporting local entrepreneurs are inclusive and take time to contemplate non-traditional demographics.
He was 26 years old in 1968 when he was a guest at the Lorraine Motel with Dr. Martin Luther King Jr. and one of the younger members of King’s inner circle.
Spence Wilson, chairman of the board of Kemmons Wilson Companies, is the keynote speaker for the annual Bobby Dunavant Public Servant Awards to be held May 11 at the Holiday Inn University of Memphis.
SMALL BUSINESS SPOTLIGHT
It’s one thing to want to prepare a healthy home-cooked meal in the evenings. It’s a different thing entirely to actually accomplish that meal after a long day at work or dealing with getting kids from activity to activity.
GOVERNMENT & POLITICS
The Republican primary race to fill the 8th District Congressional seat Republican incumbent Stephen Fincher is giving up drew a field of 13 contenders – seven from Shelby County and four from Jackson, Tennessee – at the Thursday, April 7, noon filing deadline for the Aug. 4 ballot.
In a unanimous vote, Shelby County commissioners waived their legal privilege Wednesday, April 6, and approved the public release of a disparity study that is expected to show minority businesses get a low percentage of county government contracts.
A proposal to form a joint city-county group to explore voluntary de-annexation and the city’s footprint goes to the Memphis City Council for a vote in two weeks.
Memphis City Council Chairman Kemp Conrad wants to open talks with county commissioners on possible voluntary de-annexations.
United Housing Inc. has gotten a boost from area financial institutions in recent days to the tune of $1.1 million.
The sports business is the expectations business. Always. No exceptions.
In the immediate aftermath of Paxton Lynch’s pro day at the University of Memphis, it sort of felt like the postgame following a season-opening victory over a lesser non-conference opponent.
The Golden State Warriors may not break, or even tie, the Chicago Bulls’ 72-10 record from the 1995-96 season. By the time you read this, if it is after the San Antonio Spurs play at Oracle Arena on Thursday night, April 7, the mathematics for shattering the record may have turned on them.
University of Memphis baseball coach Daron Schoenrock looks at his freshmen pitchers and sees talent and promise, even if at times this season “the moments have been a little big for them.”
Quick question about the Titans: Who has the most to prove?
A local entrepreneur is looking to bring an innovative marketplace made out of shipping containers to Memphis.
For the first time in its 80-year history, the William R. Moore School of Technology has expanded beyond its Poplar Avenue campus.
Wain Gaskins has joined consulting engineering firm Cannon & Cannon Inc. as manager of the company’s new Memphis office as well as director of West Tennessee operations and business development.
THE TIPPING POINT
Say you stole a television worth $300. How long should you be punished? A year? Five years? Whatever you answered, it probably wasn’t “for the rest of your life.” But that’s how the U.S. legal system currently treats many people who have been convicted of felonies.
OVERTON EAGLES SOAR. When the city last talked about closing the Overton Park golf course, I told my story in a column.
Ray’s Take: If you Google the words “student loan crisis,” millions of hits should convince you that this is a very hot topic.
In the pre-dawn hours of March 22 I found myself awake and decided to check Facebook on my phone before attempting to go back to sleep.
The vicinity of April Fool’s Day is an apt time to reflect on a tale often told to first-year law students. In contracts class, perhaps. It is the story of a man who wrote a check on the side of a cow. The point of the story ultimately would be that a negotiable instrument is judged on the language and intent in the transaction, rather than by the physical means of evincing it. Kinda, sorta.
Just when it appears the Tennessee Senate is made up of sensible people – as evidenced by the killing of de-annexation legislation – the body is changing course with a Bible-thumping measure.
Yesterday, I found myself saying something I often say this time of year: “One of my all-time favorite things is to go to a job fair!” The response I received was not unexpected. The job seeker hadn’t even thought of attending a job fair since college. They seem so juvenile on some level.
In the world of sales, we are conditioned to live life by the month. We are driven by monthly sales goals and monthly paychecks. But when we don’t take time to create a plan of attack at the start of each month, we are workhorses rather than stagecoach drivers.
Communication is the name of the game. It’s not just what we say; it’s also what we write. How are you communicating with the written word?
Editor’s note: Part one in a two-part series. The role of design evolves at the speed of innovation, the dizzying, dynamic speed of the market. Design now has a seat at executive and board tables across the globe. More than ever, a holistic sense of design is valued as a legal means of significant competitive advantage.