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VOL. 126 | NO. 136 | Thursday, July 14, 2011

Daily Digest

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Arlington Shopping Center Financed for $1.5 Million

Slidell, La.-based Southeast Investments LLC has financed a nearly 24,000-square-foot shopping center at 6050 Air Line Road in Arlington for $1.5 million through Trustmark National Bank. The loan matures July 5, 2016.

Southeast Investments LLC bought the center in lieu of foreclosure in September 2009 from Pleasant Place LLC, Waymon W. Welch, Danya Welch, Dawn Welch Kinard, Jon E. McCreery and Phillip Chamberlain for $1.8 million.

The Class A center is on 3.6 acres on the east side of Airline Road north of Town Center in Twin Oaks Minor Subdivision. It is bounded on the north by railroad tracks.

The Shelby County Assessor of Property’s 2011 appraisal is $3.7 million.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Lyons Ridge Senior Apts. Open in South Memphis

City leaders opened the city’s first green, affordable senior citizens apartment complex Wednesday, July 13, in South Memphis.

Lyons Ridge Senior Apartments is a 102-unit, three-story building at 1633 Pennsylvania St., next to Carver High School, built to National Association of Home Builders National Green Building Standards.

The standards dictate how the lot is developed and promote energy and water efficiency. They also require education courses for tenants on maintenance of the units.

The city demolished a dilapidated apartment complex on the site to build the Memphis Housing Authority-run development, which is a gated community and includes access to a still-to-be-developed walking track for use by tenants and students at the nearby school.

Construction of Lyons Ridge, which began in May 2010, was financed with $12.2 million in public funds – $7.9 million in stimulus funding through the Tennessee Housing Development Agency and another $4.2 million in HUD funding through the MHA.

Those renting the units must be 62 or older and meet income requirements tied to the area’s median income.

– Bill Dries

Duncan-Williams to Host Dragon Boat Demo Day

Duncan-Williams Inc. will host a Dragon Boat Demo Day Friday, July 15, from 2 p.m. to 5 p.m. at Mud-Island River Park. Participants may come by during the hours to demo some of the boats.

Dragon boat racing is the eighth-fastest-growing water sport. Companies and community groups work with teams of 20 paddlers, a drummer and a 46-foot dragon boat to race one another. All ages and skill levels are encouraged to participate, making it a team-building sport that requires synchronicity and finesse rather than power to win.

The demo day also offers attendees a chance to learn more about the Duncan-Williams Dragon Boat Races, benefiting the Tennessee Clean Water Network, and register to compete in the Sept. 24 race. For more information, visit www.memphis.raceboats.com, email penny@racedragonboats.com, or call 877-580-RACE.

– Houston Cofield

EnSafe Awarded Contracts for Assessments

EnSafe, a Memphis-based environmental consulting company, was awarded a contract by the Shelby County government Wednesday, July 13, to begin Phase I and II Environmental Site Assessments in the Wolf River Brownsfields Assessment Project Area. EnSafe will also perform Clean-Up Planning for possible hazardous substance and petroleum within the 25-mile-long and two-mile-wide corridor along the Wolf River as well as the west side of Downtown south of Crump Boulevard.

The project is seeking to assess the environmental cleanup process of more than a dozen properties to assist the redevelopment of the sites. The long-term outcome of the assessments is the redevelopment of these properties along the Wolf River Harbor for residential and mixed uses, development of the Wolf River Greenway and Conservation Corridor for recreation and creation of sustainable development in the Hollywood and New Chicago neighborhoods.

The U.S. Environmental Protection Agency has awarded Shelby County government two Brownfield Assessment Grants to fund assessment and clean-up projects scheduled to begin later this summer. The grant project area has four target areas: the Wolf River Harbor, the New Chicago Community, the Hollywood/Midtown North Community and the Wolf River Greenway and Conservation Corridor. These target areas contain about 350 brownfields, properties considered to be contaminated by hazardous material. The category includes properties such as junkyards, gas stations, dry cleaners or vacant land exposed at some time to contaminants.

Those interested in an assessment of their property can download an application at http://www.shelbycountytn.gov/index.aspx?NID=1427 for submission to the Shelby County Brownfields Council for approval. Limited grant funding is available for assessments.

– Houston Cofield

ArtsMemphis Awards More Than $1.7M in Grants

ArtsMemphis has announced it has awarded $1.7 million this year among 25 arts organizations around the city. The total award amount was an increase from last year, which ArtsMemphis said was an effort to help arts groups still struggling in the stagnant economy.

The Memphis Symphony Orchestra received the largest grant, $390,000, and the Memphis Brooks Museum of Art followed, receiving $300,000. These ArtsMemphis awards were operating grants, which are often the most consistent source of funding for arts groups.

“The arts are Memphis, and Memphis is the arts. Without one you cannot have the other,” said Susan Schadt, ArtsMemphis president & CEO.

Theatre Memphis received an operating grant of $123,000 this year.

“The continued and growing support ArtsMemphis gives us allows us to engage more and more of the community in arts activities and allows us to provide outstanding theatrical experiences to enrich the lives of our audience and participants,” said Steve Good, Theatre Memphis board president.

Many other grants were Mosaic project grants that funded specific programs or projects in smaller, more grassroots organizations. The Blues Foundation was awarded this year’s largest project grant of $23,000.

ArtsMemphis has donated $40 million to arts groups in and around Memphis in the past 10 years.

It is a volunteer organization founded in 1963 to support and cultivate the local arts community.

-Estes Gould

U.S. House Approves 5-Year NFIP Bill

The House of Representatives Tuesday, July 12, voted 406-22 to clear H.R. 1309 – a bill extending the National Flood Insurance Program through Sept. 30, 2016.

The bill, sponsored by Rep. Judy Biggert, R-Ill., now moves to the full Senate. But the Senate is expected to draft its own version, according to lobbyists from the National Association of Federal Credit Unions, which supported the bill.

H.R. 1309, which includes some reforms to the flood insurance program, was approved shortly after the House rejected, 384-38, an amendment offered by Rep. Candice Miller, R-Mich., to terminate the program by Jan. 1, 2012.

The NFIP is currently working under a temporary extension that expires this Sept. 30.

– Sarah Baker

Saint Francis Wins Marketing Awards

Saint Francis Hospital-Memphis and G-Design Advertising have been honored by the Aster Awards for marketing excellence in health care.

Saint Francis received three Gold Awards in the categories of Multilingual Advertising-Single, Service Line-Orthopedic Services and Patient Education.

The hospital’s work was judged in national competition with other hospitals with more than 500 beds.

The Aster Awards competition is hosted by Marketing Healthcare Today and Creative Images Inc. The national program recognized outstanding health care professionals for excellence in their advertising and marketing efforts in 2010.

The judging criteria included creativity, layout and design, functionality, message effectiveness, production quality and overall appeal.

– Taylor Shoptaw

PROPERTY SALES 57 280 1,209
MORTGAGES 55 244 916
BUILDING PERMITS 158 699 2,751