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VOL. 133 | NO. 138 | Thursday, July 12, 2018

Daily Digest

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The Container Store Planning G’town Location

The Container Store, a national retail brand that specializes in storage and organizational products, is planning a Germantown location near Trader Joe’s.

The Texas-based chain is seeking a sign variance from the Germantown Design Review Commission for a store that will be located at 2130 Exeter Road in the Germantown Collection Shopping Center.

The Container Store will join Trader Joe’s in the new-look Germantown shopping center that was in and out of the spotlight during an on-again-off-again redevelopment after longtime anchor Kroger left the property.

However, the project appeared to stabilize after Savannah, Georgia-based Wicker Park Capital Management, doing business as 2130 Exeter Road Holdings, took over the project from previous developers Centennial American Properties in 2017.

In December, Wicker Park bought the parcel outright from previous owner Robert H. Schwab for $8.1 million.

The Germantown DRC will review The Container Store’s sign package request during its Thursday, July 12, meeting.

– Patrick Lantrip

Amazon Files $10M Permit For New Facility

With its 615,000-square-foot facility at 3282 E. Holmes Road under construction, e-commerce giant Amazon has filed a $10 million building permit application that lists “tenant improvement” for a new location at 5155 Citation Dr.

Exeter Property Group, doing business as Exeter 5155 Citation LLC, was listed as the property owner, while Catamount Constructors Inc. was listed as the contractor.

The roughly 400,000-square-foot facility was most recently used as distribution facility for AT&T before the company, doing business as New Cingular Wireless PCS, moved into a 430,130-square-foot facility in the DeSoto Trade Center’s Eastgate Building 3.

In addition to the Holmes Road receive center, Amazon also operates a warehouse at 6005 Freeport Ave.

Exeter originally purchased the property in 2013 for $11.3 million.

– Patrick Lantrip

G’town Planning Body OKs Cordova Triangle Rezoning

The Germantown Planning Commission has voted to rezone an area known as the Cordova Triangle back to its original residential designation.

The area, which fronts Cordova and Neshoba roads near The Great Hall & Conference Center and the Germantown Performing Arts Center, was rezoned as a Central Business District in 2007 as a part of the municipality’s Smart Growth Plan.

However, citing a lack of development over the past decade and continuing opposition from nearby residents, the GPC voted 5-3 Tuesday, July 10, to return the heavily wooded tract of land back to its original zoning designation.

“Experience over the last decade has shown that the application of the Smart Code over the Triangle was ill-advised,” Germantown Mayor Mike Palazzolo said in a letter to the planning commission. “Therefore, in the interest of public necessity, convenience, general welfare and good zoning practice, the city seeks to return the area to its original R - Residential zoning. In so doing, the property and the surrounding neighborhoods will be protected from any impacts that would be occasioned from high-density development of the Triangle.”

The zoning measure now moves the Board of Mayor and Aldermen for votes on three readings before it can go into effect.

– Patrick Lantrip

City Council Approves $1.2M Funding for Hampline

Memphis City Council members approved $1.2 million in funding for the Hampline bikeway linking the eastern end of Shelby Farms Greenline to Overton Park’s eastern border.

The resolution approved Tuesday, July 10, on a unanimous vote funds the upgrade of the existing Hampline with $1 million in Tennessee Department of Transportation pass-through funding of federal grant money along with $269,635 in city capital funding through general obligation bonds.

The council again delayed a final vote on an ordinance by council member Kemp Conrad that would set more rules for the use of historic overlay districts, including how to handle appeals of Landmarks Commission decisions.

In planning and development matters, the council approved a four-lot single-family development by Park Place LLC at 1118 and 1130 East Irvin Dr. and a new tire store at 975 N. Germantown Parkway in Cordova.

The council also approved a compromise that settles a neighborhood appeal of a two-lot single-family development at East Erwin south of Princeton Avenue.

The council set a July 24 public hearing and vote on the Ivy Grove planned development, an 11-lot single-family residential development on the northwest corner of Kirby Parkway and Sulgrave Drive.

– Bill Dries

Hardaway Vows To Pursue Five-Star Talent

Before heading off to the Peach Jam tournament run by Nike in North Augusta, S.C., University of Memphis coach Penny Hardaway met with media at the Laurie-Walton practice facility on Tuesday, July 10, and made clear his recruiting mission: compete with the big boys for five-star recruits.

While conceding schools such as Kentucky and Kansas have sent many more players to the NBA in recent years, Hardaway said he believed that with fellow former NBA player Mike Miller on staff, along with one-time NBA Coach of the Year Sam Mitchell, the Tigers are uniquely positioned to land and develop the best young players in the nation.

“We can take any kid, especially a kid with five-star talent, and take them to the next level because we’re teachers,” Hardaway said.

July is a busy time for college basketball recruiting with the start of three five-day evaluation periods. The Tigers appear to be in the hunt for at least three five-star players, most notably East High School’s James Wiseman; recruiting services have tabbed him as the top 2019 recruit and Kentucky and John Calipari provide the stiffest competition for signing Wiseman.

Also on the Tigers’ radar among five-star players are forward Trendon Watford of Birmingham, Alabama, and forward Matthew Hurt of Rochester, Minnesota.

So far, the Tigers have one 2019 commitment in East forward Malcolm Dandridge and they have two open scholarships for the Class of 2019.

Another East player, Ryan Boyce, had committed to UAB but will now walk-on at Memphis this year and then go on scholarship next season.

– Don Wade

Memphis Chamber Fills New SVP of Growth Role

The Greater Memphis Chamber has created and filled a new position to help grow membership and create more benefits for those members.

The new senior vice president of growth role has been filled by Robert Recker, former vice president of investor relations for the Huntsville/Madison County Chamber of Alabama.

“Rob brings experience in all aspects of regional chamber leadership that will help us bolster big initiatives for moving our city forward,” said Phil Trenary, president and CEO of the Greater Memphis Chamber. “He has spearheaded successful campaigns to improve air service to a region and has extensive experience building programs to benefit member businesses. We are excited to have his experience and energy on our team. He will do great things for this organization and this city.”

Prior to his job in Alabama, Recker worked for the Greater Cleveland Partnership as senior vice president of middle market and corporate initiatives, where he led a local business initiative to recruit more air service to Cleveland Hopkins International Airport.

The initiative led to the attraction of low-cost carrier JetBlue Airways Corp. and expanded service from Delta Air Lines Inc., Southwest Airlines Co. and American Airlines Inc.

In Memphis, Recker will oversee the chamber’s membership team with a focus of growing membership. He will also identify and create programs that will help members grow their own businesses.

“It is often said that a strong chamber of commerce yields a stronger community,” Recker said. “I am anxious to strengthen the ties and grow our organization’s membership. There is so much opportunity for growth, especially with our small to mid-size businesses. I want them to be a part of this new momentum pushing Memphis forward. I firmly believe Memphis is one of the best kept secrets and I am anxious to help tell the Memphis business story.”

– Daily News staff

PROPERTY SALES 50 226 2,557
MORTGAGES 44 145 1,731
BUILDING PERMITS 204 569 5,701