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VOL. 132 | NO. 175 | Monday, September 4, 2017

Daily Digest

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Rainn Wilson to Attend Indie Memphis Festival

TV and film star Rainn Wilson will host the premiere of his new movie “Thom Pain” as part of the 20th anniversary of the Indie Memphis Film Festival in November.

The film, directed by Oliver Butler and adapted from Will Eno’s 2004 play, will be the Opening Night Gala selection for the festival. As part of the anniversary celebration, Indie Memphis will also for the first time host a block party from Nov. 3-5, closing off traffic along Cooper Street between Union and Monroe avenues in Midtown.

Among other highlights, the festival will include the Memphis premiere of “Thank You, Friends: Big Star’s Third Live...And More,” directed by Benno Nelson and featuring an all-star cast of musicians such as Robyn Hitchcock and members of R.E.M., Yo La Tengo and Wilco. The concert film celebrating Big Star will be shown on a large outdoor screen with the band’s Jody Stephens in attendance.

Indie Memphis is also partnering with the National Civil Rights Museum for MLK50, a special program of films new and old that will not only commemorate the upcoming 50th anniversary of Dr. Martin Luther King Jr.'s assassination in Memphis, but also address the legacy of his work. Visit IndieMemphis.com to learn more or to purchase festival passes. Passholders are granted first access to film tickets beginning Sept. 26 before they go on-sale to the general public on Oct. 10.

– Andy Meek

Study Reveals Local Impact of the Arts

Nonprofit arts industry spending totaled nearly $200 million in Shelby County in 2015, according to local findings from a nationwide study called Arts and Economic Prosperity V. Known as AEP5, the study was a yearlong data-collection effort launched by Americans for the Arts to quantify the economic impact of nonprofit arts and culture.

The Tennessee Arts Commission provided statewide oversight for the study, and ArtsMemphis served as the commission’s primary partner in West Tennessee. The project involved 14,439 arts organizations across the country, including more than 600 in Tennessee.

For 2015, total nonprofit arts industry spending in Shelby County was $197.3 million. The local arts industry supported 6,138 jobs (full-time equivalent), created $160.8 million in household income and generated $22.4 million in government revenue.

Statewide, nonprofits arts spending reached $1.2 billion in 2015 and 38,482 jobs were supported; household income created totaled $837.8 million and $135.9 million in government revenue was generated.

Nationally for 2015, nonprofit arts spending topped $163 billion, and the industry supported 4.6 million jobs, created $46.6 billion in household income and generated $27.5 billion in government revenue, versus $5 billion in nationwide public funding of the arts.

“This is a great example of what we mean when we talk about ‘powering authentic assets’ in our community,” said ArtsMemphis president & CEO Elizabeth Rouse in a statement. “The arts really are an authentic asset – not only for our quality of life, but for our economy.”

– Don Wade

India’s Consul General Visits Memphis

Indian Consul General Nagesh Singh was in Memphis last week for roundtable discussion with Greater Memphis Chamber members and business leaders.

Singh is consul general for the southeast U.S. and is based in Atlanta.

In the chamber roundtable Tuesday, Aug. 29, Singh said his country’s foreign direct investments has been growing in recent years, particularly in IT and hospitality. He also touted India’s recent tax reform measures.

In trade terms, India is in the top three nations in imports of auto and aircraft products.

– Bill Dries

Two Apartment Complexes Sell for $11 Million

Two apartment complexes in northern Shelby County have been purchased by a Arkansas realty group for nearly $11 million, according to a pair of warranty deeds filed with the Shelby County Register.

In the first deal, Trinity Multifamily, doing business as AndMark Greenview Estates LLC, bought the Greenview Estates Apartments at 4650 Hedges Drive for $5.4 million from Capital Solutions LLC.

Built in 2001, the 36.8-acre complex was appraised at $3.6 million by the Shelby County Assessor this year.

In the second transaction, Trinity Multifamily, this time doing business as AndMark Garden Wood Apartments LLC, bought the Gardenwood Apartments at 4787 Garden Grove Cove from Capital Solutions for $5.4 million.

Built in 1983, the 10-acre property was last appraised for $3.2 million in 2017.

Hannah Oppenheim signed both deeds on behalf of Capital Solutions.

Trinity Multifamily owns two other complexes in Shelby County – the 152-unit Bartlett Crossing Apartments at 5760 Silvercreek Drive and the 208-unit Enclave Apartment Homes at 2940 Hickory Hill Road – along with other multifamily properties in Arkansas, Kansas, Missouri, Oklahoma, Texas and Mississippi.

– Patrick Lantrip

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 73 155 19,728
MORTGAGES 95 170 23,084
FORECLOSURE NOTICES 4 11 8,315
BUILDING PERMITS 200 338 40,366
BANKRUPTCIES 50 122 13,226
BUSINESS LICENSES 14 23 6,160
UTILITY CONNECTIONS 33 85 13,080
MARRIAGE LICENSES 28 58 4,900

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