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VOL. 131 | NO. 244 | Thursday, December 8, 2016

St. Jude Area Focus of $37M Investment from Memphis, State

By Andy Meek

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State government and the city of Memphis have announced multimillion-dollar contributions to improve the public infrastructure around the Downtown campus of St. Jude Children’s Research Hospital.

Tennessee Gov. Bill Haslam and state Economic and Community Development Commissioner Randy Boyd were on hand Thursday, Dec. 8, at St. Jude’s Domino’s Event Center to talk specifics: The state is putting up $12 million in FastTrack funding to improve infrastructure around St. Jude.

Complementing that investment, the city of Memphis is dedicating $25 million toward public infrastructure projects.

The day after hinting at the news during the Greater Memphis Chamber’s Annual Chairman’s Luncheon, Rick Shadyac – president and CEO of ALSAC, St. Jude’s fundraising and awareness organization – said the investments check off several boxes. One of which is helping create “a more inviting environment for our employees, patients and guests.”

Local leaders such as Greater Memphis Chamber president and CEO Phil Trenary and Shelby County Mayor Mark Luttrell touted the news as a precursor to transforming Downtown.

The investment comes at the same time St. Jude is in the throes of a major expansion Downtown, one touching almost every significant piece of its operation – from headcount to technology to its footprint. ALSAC chief strategy officer George Shadroui said during a public meeting Downtown last month that St. Jude currently has no firm plans for “outside the gates of our current campus,” though it has been acquiring new real estate in the area.

Discussion about what St. Jude might do has been a factor in a continuing discussion over redevelopment of the Pinch District, with the hospital owning roughly half of the area involved.

While some local officials have openly suspected St. Jude already has a specific plan assembled in some form for the Pinch, hospital officials have limited themselves to talking only in general terms publicly about wanting to see improvement in the area. That’s to make it more of an attractive gateway, since part of the hospital’s recruitment efforts includes attracting top-level medical talent from around the world.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 280 1,209
MORTGAGES 55 244 916
FORECLOSURE NOTICES 8 52 151
BUILDING PERMITS 158 699 2,751
BANKRUPTCIES 37 157 618
BUSINESS LICENSES 12 77 276
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0