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VOL. 131 | NO. 26 | Friday, February 5, 2016

Daily Digest

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Medical District Apartments Sell For $9.7 Million

An apartment complex in the Memphis Medical Center has sold for $9.7 million.

Blair Tower LLC, an affiliate of Hyde Family Investments LLC, purchased the Blair Tower Apartments from Blair MCAP LLC, according to a Jan. 29 warranty deed.

The Class B complex, located at 810 Washington Ave., was built in 1964 and bears 208 units across 219,179 square feet. It’s situated on 1.4 acres at the northwest corner of Washington and Dunlap Street, and the Shelby County Assessor’s 2015 appraisal came in at $5.1 million.

This isn’t the first time New York-based Hyde Capital has purchased in Memphis. In March 2014, its related entities paid $8.6 million for the 208-unit Cinnamon Trails apartment complex and $8.7 million for the 272-unit Briar Club Apartments, both in Hickory Hill.

– Madeline Faber

Resurrection Health Opens Frayser Center

Resurrection Health is cutting the ribbon next week in Frayser on its fourth health center.

The location is 2574 Frayser Blvd. A ribbon cutting ceremony is set for Tuesday, Feb. 9, at 10 a.m., with keynote remarks from U.S. Rep. Steve Cohen, D-Memphis, and Dr. Jimmy Young, senior pastor at Grace Evangelical Church.

Resurrection Health is a faith-based organization that launched in 2014.

– Andy Meek

Rallings Names Police Team

Interim Memphis Police director Michael Rallings has named deputy chief Mike Ryall as his deputy director and has filled other vacancies in the ranks of deputy chiefs.

Rowena Adams has been named deputy chief over administrative services, while Frank Garrett and Terry Landrum are over uniform patrol. Sharonda Hampton is deputy chief investigative services, Clete Knight is deputy chief special operations, and Jim Harvey is deputy chief information technologies.

Adams, Knight and Harvey already were deputy chiefs under former police director Toney Armstrong, as was Rallings.

Knight and Harvey are scheduled to retire this year. Depending on their timing, Rallings likely will be the one to fill the vacancies. Memphis Mayor Jim Strickland estimates the city’s national search for a permanent police director will take four to eight months.

– Bill Dries

Memphis Symphony Receives $50K Grant

The Memphis Symphony Orchestra has been awarded a grant from The Andrew W. Mellon Foundation for planning a musician diversity fellowship program.

The foundation, which invests in the arts and cultural heritage, has been a strong supporter of MSO innovation and community engagement work in the past.

The $50,000 grant will be used during 2016 to plan and design a conservatory fellowship program. It will bring emerging professional musicians from underrepresented communities to Memphis for orchestra performance and service opportunities.

“In the continuing evolution of the Memphis Symphony Orchestra as the largest performing arts organization in Memphis, we are building on three spheres of influence that center around the transformative power of music,” said Memphis Symphony board chair Gayle S. Rose. “Those three include continued artistic excellence in the concert hall; educational engagement to coach, teach and mentor our youth; and a diversity and inclusion program to build a resonant and sustainable relationship with the Memphis community.”

Despite a financial setback in 2014 that temporarily put several projects on hold, MSO leadership continues to invest in orchestra activities in the community outside of the concert hall as support becomes available. A renewed partnership with Shelby County Schools, thanks to the generous gift from the Helen and Jabie Hardin Charitable Trust, designed to use music as a learning pathway to support student creativity, literacy and college/career readiness is one example of a community initiative investment.

Program planning for the Mellon Grant is scheduled to begin immediately.

– Don Wade

Accounting Firm Celebrates Centennial With Service

The accounting firm of Reynolds, Bone & Griesbeck is celebrating its 100th anniversary this year by giving back.

Managing partner John Griesbeck said the firm had the community in mind when planning its centennial celebration. As a result, firm employees will volunteer and give back to several local organizations for 100 days straight starting this spring.

Some of the organizations selected include St. Jude Children’s Research Hospital; the Church Health Center; Le Bonheur Children’s Hospital; and the Humane Society of Memphis and Shelby County, among others.

“Our founders were among the first certified public accountants in the state of Tennessee and we would not be the success we are today without the trust and support of the businesses in this community,” Griesbeck said. “So the best way we could think to celebrate our success was to simply give back.”

– Andy Meek

Memphis Open Announces Three Teen Wild Cards

Three young tennis pros will take the court at the 2016 Memphis Open as wild card players, the tournament has announced.

Taylor Fritz, Tommy Paul and Frances Tiafoe are all 18 years old, making this year’s tournament – scheduled for Feb. 8-16 – the first time in history wild cards have been awarded solely to teenagers.

The three young wild cards are working their way up the rankings on the ATP World Tour. Paul defeated Fritz last year to win the Roland Garros junior title, while Fritz defeated Paul to win the US Open junior title. Tiafoe played in the main draw at Roland Garros and US Open, the first Grand Slam tournaments of his career.

Meanwhile, the Memphis Open also announced tickets are selling fast, with some sections already sold out. Daily session tickets start at $10 and are available at memphisopen.com.

– Kate Simone

2 Memphis Nonprofits Among ‘Listen for Good’ Grantees

Memphis nonprofits A Step Ahead and SRVS are among 19 organizations selected by the Fund for Shared Insight for the inaugural cohort of “Listen for Good” grantees.

Listen for Good, a collaborative effort among several funders – including the Memphis-based Plough Foundation – is dedicated to building the practice of listening to the people nonprofits and foundations seek to help. In its first year, the initiative will develop simple, systematic ways of obtaining feedback from nonprofits that receive foundation funding, as well as help nonprofits obtain input from the people they directly serve.

Each of the 13 co-funders involved with Listen for Good nominated one or more of the 19 grantees and committed $20,000 per organization in support.

The Plough Foundation is sponsoring some of the smaller, more regionally focused organizations that have signed on for the first round. The foundation’s grantmaking reflects the many pressing social and economic issues facing Memphis and Shelby County.

Listen for Good will explore new and different ways to engage with the perspectives and ideas shared through high-quality feedback loops. Ultimately, it will share lessons learned with grantees, co-funders and the field to improve the feedback movement and inform future efforts.

– Kate Simone

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 77 11,602
MORTGAGES 79 79 13,506
FORECLOSURE NOTICES 0 0 1,858
BUILDING PERMITS 96 96 24,260
BANKRUPTCIES 53 53 7,526
BUSINESS LICENSES 31 31 3,943
UTILITY CONNECTIONS 49 49 4,730
MARRIAGE LICENSES 20 20 2,564

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