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VOL. 131 | NO. 45 | Thursday, March 3, 2016

Dries

Bill Dries

Last Word: Laurelwood Changes, Greensward Aftermath and Broadband Problems

By Bill Dries

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East Memphis Proper is about to look a lot different. Nordstrom Rack is opening a Memphis store and it will be built where the Sears store stands now in the Laurelwood shopping center.
Sears closes in mid-April and the 1958 structure will be demolished for a new retail center to be called Poplar Commons.
Nordstrom Rack is 33,000 square feet of a 135,000 square foot shopping center.
Out parcels tend to be the changing face of commercial development on Poplar Avenue.
There are some notable exceptions like the nearby Oak Court Mall which was a significant change of scenery from what was once the Siena College campus.
Further west on Poplar, the Poplar Plaza shopping center – the city’s first suburban shopping center – is still recognizable in its original form if you know what used to be there.

More real estate happenings from the ever-busy Madeline Faber. The 107 S. Main St. building whose dilapidated condition on an otherwise redeveloped block of the Main Street Mall, became an issue in recent years, has been sold.
The buyer is Suna Investments which is working on the Winchester Building at 179 Madison as a boutique hotel.

More thoughts the day after the City Council’s Tuesday vote on the Overton Park Greensward and how this is a real difference for the new council that took office in January from the old council that left office at the end of 2015.

The Greensward debate wasn’t the only debate of the evening at City Hall. Here is more on the debate that followed on a motel proposed across the street from the Pyramid that was rejected by the council. But it was not without more harsh words between council members Berlin Boyd and Janis Fullilove who brought St. Jude into the exchange.

Methodist Le Bonheur CEO Gary Shorb talks with Andy Meek about his career which has included time as president of what is now Regional One Health and was then The Med, the city’s public safety net hospital.

The Memphis Real Estate Recap: Graceland West pulls its first construction permit, Baby Kroger prepares to move out, Noah’s Event Venue debuts in Tennessee with a new building on Players Club Parkway and the East Memphis location of Lyfe Kitchen takes a $2.1 million mortgage loan.

Sam Stockard in his View From the Hill column talks about the effort to expand broadband access across Tennessee. Those of you at the Memphis Rotary Club recently for a speech there by Tennessee Economic and Community Development Commissioner Randy Boyd heard a version of this. Boyd saying it’s not enough to throw around the term. Boyd argued the state has to define broadband in specific technical terms so businesses will know what to expect. And he argued there should be a standard.

And Elvis closes in Vegas – well an Elvis exhibit that Graceland is at odds with over some of the King’s belongings.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 46 229 20,995
MORTGAGES 74 248 24,609
FORECLOSURE NOTICES 0 27 8,637
BUILDING PERMITS 478 837 43,174
BANKRUPTCIES 61 177 14,079
BUSINESS LICENSES 12 58 6,459
UTILITY CONNECTIONS 29 114 13,625
MARRIAGE LICENSES 20 67 5,136

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