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Editorial Results (free)

1. MRG, Thomas & Betts Receive Tax Incentives -

Makowsky Ringel Greenberg and Thomas & Betts were both awarded tax incentives to advance their respective projects by the Economic Development Growth Engine for Memphis and Shelby County on Wednesday, July 19.

2. Madison @ McLean Project Awarded 14-Year Tax Abatement -

Local multifamily development group Makowsky Ringel Greenberg has been awarded a 14-year tax abatement to construct a 132,477-square-foot, 108-unit apartment complex in Midtown Memphis.

Named Madison @ McLean after the eponymous Midtown intersection it will reside on, the $14 million project is the first ever recipient of a Residential PILOT (payment-in-lieu-of-taxes), incentive, which was created earlier this year by the Economic Development Growth Engine for Memphis and Shelby County.

3. MRG Seeking Incentives For Midtown Project -

After reaching a settlement with nearby neighbors on an unrelated Midtown multifamily project, developer Makowsky Ringel Greenberg has submitted a request for tax abatement on another ambitious project.

4. Nearly 300 New Apartment Units Headed to McLean Boulevard Intersections -

Two projects planned a block apart from each other will flood the Midtown market with luxury rental units.

The area hasn’t seen new multifamily construction since The Bristol went up in 2004. Since that time, renewed interest in the urban core and high-profile projects like Overton Square have prepared Midtown for top-dollar rents.

5. Louisiana Film Prize Launches Offshoot Competition in Memphis -

Established film festival Louisiana Film Prize is launching its first offshoot in Memphis. Filmmakers who shoot a five- to 15-minute movie within Shelby County can be entered to win $10,000 locally and go on to win $50,000 at the larger competition in Shreveport, Louisiana.

6. Events -

The Memphis/Mid-South chapter of the Federal Bar Association will present the 2012 annual federal practice seminar Friday, Oct. 12, from 8 a.m. to 4:15 p.m. at the University of Memphis Cecil C. Humphreys School of Law, 1 N. Front St. Contact Mary Morris at mmorris@bpjlaw.com or 524-5144.

7. Trenarys Buy Goodwyn Condo -

Phil Trenary – who resigns Thursday as president and CEO of Memphis-based Pinnacle Airlines Corp. – and his wife, Bridget, have bought a condominium in Goodwyn Condominiums at 127 Madison Ave. The purchase price was $457,500, and the sellers were Michael O. Arndt and Elizabeth F. Arndt.

8. Events -

The Memphis BioImaging Symposium will be held Thursday and Friday at the Fogelman Executive Conference Center, 330 Innovation Drive. For more information, a list of speakers or to register, visit www.membis.org.

9. Downtown Condo Market Hangs On -

Cautiously optimistic. That would be a pretty accurate phrase to describe the mood of condominium brokers who sell primarily in Downtown Memphis.

Sales in the county’s densest condo submarket totaled just eight in July, a 53 percent decline from 17 the same month a year ago, according to real estate information company Chandler Reports, www.chandlerreports.com.

10. Condo Market Shows Signs of Rejuvenation -

As the housing market begins a slow but steady comeback, the condominium sector is contributing its part after a particularly dreadful slump.

Shelby County saw 67 condo sales in April, a 5 percent improvement from 64 condo sales in April 2009 and a 24 percent improvement from 54 condo sales in March, according to the latest figures from real estate information company Chandler Reports, www.chandlerreports.com.

11. Exchange Building Sells at Bargain Price -

The Exchange Building at 130 Madison Ave. sold for a fraction of its value in a successor trustee’s deed last month when it was reclaimed by the lender following a foreclosure.

12. Downtown’s Exchange Building In Foreclosure -

The Exchange Building, a century-old, 19-story apartment tower at 130 Madison Ave., is in foreclosure after its owner defaulted on a loan, according to a first-run notice that begins on Page 31 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

13. 2009 Foreclosure Activity Drops 11 Percent -

On a comparative basis, Shelby County’s residential foreclosure numbers for 2009 make it seem like the housing bust is solidly in the rearview mirror.

The number of homes banks and lenders snatched away from borrowers and the number of foreclosed homes sold to new owners this year were both down from 2008’s totals. But that’s only the visible tip of the iceberg, and it belies the hulking mass below the surface that could slice open the hull of Shelby County’s real estate vessel if the danger is ignored.

14. Goodwyn Condo Interest Builds Quickly After Foreclosure -

Momentum is building at the Goodwyn Condominiums, where Hobson Co. Realtors has inked contracts for nine of its unsold units just weeks after the property was reclaimed by the bank following a foreclosure.

15. Housing Divided -

A couple of years ago, when Clay Thompson of Memphis decided it was time to stop renting, he set his sights on the Downtown condominium market. He was especially interested in the old warehouses in the South Main Historic Arts District that had been converted to condos.

16. Goodwyn Condos Shoved Back Into Marketplace -

It didn’t take long for the Goodwyn Condominiums at 127 Madison Ave. to get back on track. Just two months after foreclosing on more than 80 percent of the historic building, First Tennessee Bank NA has taken steps to finish 21 unsold units and put them on the market.

17. Building Permit Brings Wally Joe Restaurant Closer to Reality -

690 S. Perkins Road
Memphis, TN 38117
Permit Amount: $800,000

Project Cost: $800,000
Permit Date: Applied October 2009
Completion: Summer 2010
Owner: Wally Joe Realty LLC
Tenant: TBA
Contractor: Day Construction LLC
Architect: Doug Enoch

18. Goodwyn Condos Sold Back to Bank for $4.5M -

The Goodwyn Condominiums at 127 Madison Ave. Downtown has sold back to the lender, First Tennessee Bank NA, following a foreclosure of 21 of the 18-story building’s 24 condo units. First Tennessee paid $4.5 million for the unsold units and neighboring commercial space during an Oct. 21 substitute trustee’s sale on the steps of the Shelby County Courthouse.

19. Goodwyn Condos In Foreclosure -

Chalk up another victim to the continuing real estate crisis, this time the Goodwyn Condominiums at 127 Madison Ave.

20. $1.3M Construction LoanFiled for Goodwyn Condos -      Goodwyn Institute Properties LLC, the owner of Goodwyn Condominiums at 127 Madison Ave., has filed a $1.3 million construction mortgage through First Tennessee Bank, marking the third construction loan filed for the prop

21. Trolley Line on Its Way to Becoming 'A Great People Mover,' Observers Say -

Although Memphis' trolley system has seen growth almost each year and topped 1 million riders in 2005, the economic impact on the area still is uncertain.

The trolley system transported 530,919 passengers in its first fiscal year of operation, 1994. That number increased almost every year, with the system carrying more than a million riders in 2005.

22. Madison Avenue Building Turns Inside Out -

The developers of the Goodwyn Condominiums at 127 Madison Ave. are looking to blend a historic building with high-tech amenities.

The 18-story, 68,000-square-foot building is being redeveloped by Henry Grosvenor and J. Hollingsworth of Capital Development LLC for $9 million.