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VOL. 133 | NO. 161 | Wednesday, August 15, 2018

Daily Digest

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Memphis Union Mission To Begin $16.5M Expansion

Memphis Union Mission this week submitted a building permit application for an expansion of its men’s emergency shelter in Downtown.

The application estimates construction at 383 Poplar Ave. will cost $16.5 million. The organization six years ago initiated the purchase of the nearby 3.1 acres bounded roughly by Poplar on the north, Danny Thomas on the west, Washington on the south and High Street on the east.

The application describes the project as the first of three phases for facilities that, among other services, will house and feed 114 people.

Linkous Construction is the contractor.

Memphis Union Mission has provided emergency services as well as spiritual outreach at 383 Poplar since the early 1960s. The mission provides the homeless with food, clothing, shelter and hygiene care, and serves as a portal for recovery programs.

The organization bought the extra property because of steady growth in demand for its services, officials announced in 2012.

At the time, all 120 beds at the existing shelter were filled on most nights, with guests often required to sleep in overflow areas, mission officials said at the time.

– Special to The Daily News

Tigers Holding Saturday Scrimmage at Lambuth

For the third consecutive preseason, the University of Memphis football program will spend three days on the U of M Lambuth campus in Jackson, Tennessee, as part of training camp. The team arrives at approximately 2:30 p.m. Wednesday and will break the camp Saturday with a 10 a.m. scrimmage that is open to the public.

“We do a lot of group activities at this Lambuth camp outside of football,” head coach Mike Norvell said. “We want our guys to learn together, learn to communicate, learn to trust their teammates, build their comradery and learn to work together through different situations.”

Thursday and Friday will feature Tiger practices in the morning, followed by meetings and team-building activities in the afternoons and evenings. Saturday will wrap camp with a pre-season tailgate and scrimmage, presented by the U of M Alumni Association. Following the 10 a.m. scrimmage, fans can meet and greet the Tiger players. Parking and admission at the event are free.

– Don Wade

Develey Mustard Opens Dyersburg Plant

A Germany company has opened its first plant in North America in Dyersburg.

Gov. Bill Haslam and Tennessee Department of Economic & Community Development commissioner Bob Rolfe attended the grand opening of Develey Mustard & Condiments’ new facility last week. The new West Tennessee plant will employ 150.

“This is important to find, to find that you have a community that is really in the same mindset and the same thinking like you are,” said Develey Mustard CEO Michael Durach. “This is what happened to us in Dyersburg, Tennessee. The support was always there from the beginning.”

– Special to The Daily News

Fogelman Completes $67M in Acquisitions

In a joint venture partnership with Dallas-based Thackeray Partners, Memphis-based Fogelman Properties completed $67 million in acquisitions this month with the purchase of Legends at Charleston Park (in Charleston, South Carolina) and Westridge (in Jacksonville, Florida).

Developed in 2005, Legends at Charleston Park is a 232-unit property offering one, two, and three-bedroom apartments. The community is 94 percent occupied with rental rates ranging from $970 to $1,450. Legends at Charleston Park is expected to receive enhancements to the common area amenities and upgrades to unit interiors in connection with the investment.

Built in 2008, Westridge is a 312-unit property offering one, two and three-bedroom apartments. The community is 95 percent occupied with rental rates ranging from $870 to $1,200. Westridge is expected undergo a full re-branding, which includes a multi-million-dollar property renovation in connection with the purchase.

Since 2015, the Fogelman-Thackeray partnership has acquired seven multifamily communities totaling more than 1,800 units, with an aggregate value of over $220 million.

“We are thrilled to add both Legends at Charleston Park and Westridge to our growing portfolio with Thackeray,” said Mark Fogelman, president of Fogelman Properties, in a statement.

“Both communities are located in prime submarkets in growing (metropolitan statistical areas) with a strong economic outlook. As active investors and seasoned property managers, we look forward to continued growth within our long-standing relationship with Thackeray Partners.”

Fogelman specializes in multifamily acquisitions, property management, construction management and asset management. Founded in 1963, Fogelman operates 88 multifamily communities totaling 27,000 apartment homes spread across 10 states.

– Special to The Daily News

Bredesen Agrees To Four Senate Debates

U.S. Senate candidate Phil Bredesen has agreed to participate in four U.S. Senate debates with Republican contender Marsha Blackburn covering East, Middle and West Tennessee.

The first debate – hosted by Rhodes College in Memphis – will be Sept. 13. Additional debates are set for Lebanon, Chattanooga and Knoxville.

“I want this campaign to be about ideas because that’s what Tennesseans expect from their leaders,” Bredesen said. “I’m applying for the job as U.S. senator. These debates will give me the opportunity to show how we can take on the tough problems in Washington and work together to get things done.”

Bredesen’s campaign officials is connecting with debate sponsors to work out details and formats for the following debates:

• Thursday, Sept. 13, at 7 p.m., Central

Location: Rhodes College, Memphis

Sponsors: USA Today Network – Tennessee (Commercial Appeal), WMC-TV (NBC affiliate), and Rhodes College

• Tuesday, Sept. 25, at 7 p.m., Central

Location: Cumberland University, Lebanon

Sponsors: USA Today Network – Tennessee (Tennessean), League of Women Voters of Tennessee, WNPT-TV (Nashville Public Television), WTVF-TV (CBS affiliate), and Cumberland University

• Monday, Oct. 1, at 7 p.m., Eastern

Location: Tivoli Theatre, Chattanooga

Sponsor: Chattanooga Times Free Press

• Wednesday, Oct.10, at 8 p.m., Eastern

Location: UT’s Howard H. Baker Jr. Center for Public Policy, Knoxville

Sponsors: Nexstar Media Group, including WKRN-TV (Nashville), WATE-TV (Knoxville), WATN-TV (Memphis), WJHL-TV (Tri Cities); and WJKT-TV (Jackson)

– Daily News staff

PROPERTY SALES 62 288 2,619
MORTGAGES 52 197 1,783