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VOL. 133 | NO. 92 | Tuesday, May 8, 2018

Daily Digest

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City Council to Fill Spinosa’s Seat by May 22

Memphis City Council chairman Berlin Boyd says the council will fill the Super District council seat Philip Spinosa resigned from no later than May 22.

Spinosa, who was elected to the council in 2015, resigned from his seat effective May 4 to become the senior vice president of the Greater Memphis Chamber’s Chairman’s Circle.

The council began taking applications from citizens Monday, May 7, and Boyd set an application deadline of May 17 at noon.

Applicants must submit an affidavit saying that they live in Super District 9 along with proof and a petition supporting their application with the signatures of at least 25 voters who live in the super district.

The public and council members can also nominate individuals for the vacancy.

– Bill Dries

‘I Love Memphis’ Bikes To be Unveiled Wednesday

The Memphis Convention & Visitors Bureau and Explore Bike Share will roll out “I Love Memphis” bikes on Wednesday, May 9, in advance of Explore Bike Share’s launch of a 600-bike system later this month.

A celebratory slow ride Wednesday at 6 p.m. is planned in conjunction with National Travel & Tourism Week and will reveal the branded bikes. The bikes with the familiar “I Love Memphis” artwork will be part of the 600-bike system that officially launches May 23. The slow ride will take the branded bikes, along with other riders who join the tour on their own bikes, to local landmarks and attractions.

“They got it from the very beginning – the MCVB has been exceptionally supportive and saw the value in Explore Bike Share and the benefits to not just visitors, but all Memphians,” Trey Moore, executive director of Explore Bike Share, said in a statement. “We are so grateful to have them as a founding partner and the opportunity that this provides visitors with an amenity that will enhance their Memphis experience.”

Regena Bearden, chief marketing officer of the MCVB, believes Explore Bike Share adds value to the visitor experience and can help open a new lane for Memphis’ $3 billion tourism industry.

“Research shows that bike riders generate an economic impact in the neighborhoods they explore because they make more frequent stops,” she said.

The MCVB’s slow ride during National Travel and Tourism Week will give the public their first opportunity to see the “I Love Memphis” bikes and to experience Explore Bike Share before the May 23 launch. The ride will be led by Explore Bike Share’s community engagement & marketing director, Sara Studdard, beginning at Handy Park and biking through Victorian Village, the Memphis Cook Convention Center, Martyr’s Park, the South Main Arts District, the newly constructed I Am a Man Plaza at Clayborn Temple, and ending back at Handy Park during Beale Street’s weekly Bike Night event.

Visit the I Love Memphis blog (ilovememphisblog.com) to learn more about how to participate in the I Love Memphis and Explore Bike Share slow ride.

– Don Wade

Fogelman Properties Adds VP of Acquisitions

Fogelman Properties has appointed Mike Aiken vice president of acquisitions, a newly created position at the Memphis-based multifamily real estate services company.

Aiken brings more than 12 years of real estate experience to his new role and will be a key player in Fogelman’s overall acquisition strategy. The new vice president of acquisitions will be responsible for leading the effort of Fogelman’s multifamily acquisitions, through sourcing, evaluation, and closing of Fogelman’s real estate investments.

“Mike brings a deep wealth of knowledge and extensive understanding of relevant market dynamics,” Fogelman Properties CEO Rick Fogelman said in a statement. “We look forward to his contributions on the leadership team as they will significantly impact the growth of Fogelman Properties.”

Aiken comes to Fogelman from Bell Partners, where he served as both the director of investments and investment manager in leading acquisition sourcing and disposition efforts. During his time at Bell Partners, Aiken completed more than $1 billion in acquisitions and dispositions within the Atlanta, Austin, Baltimore, Boston, Central Florida, Dallas-Fort Worth, Nashville and Washington, D.C., markets.

Prior to Bell Partners, Aiken served in associate roles at Eastdil Capital Markets, Cousins Properties and Trimont Real Estate Advisors. The new Fogelman team member earned his MBA at The University of North Carolina at Chapel Hill and his bachelor’s degree at Georgia State University.

Founded in 1963, Fogelman is one of the country’s largest privately owned multifamily investment and property management companies. Fogelman currently operates 88 multifamily communities totaling 27,000 apartment homes, spread across 10 states in the Southeast, Southwest and Midwest. Along with its Memphis headquarters, the company has offices in Atlanta, Georgia; Dallas and Houston, Texas; Raleigh, North Carolina; Kansas City, Kansas; and Orlando, Florida.

– Daily News staff

Meeting to Focus on Flooding In Harrison Creek Basin

The city of Memphis Division of Engineering and Powers Hill Design LLC will host a public meeting Thursday, May 10, at Gaisman Community Center, 4221 Macon Road, to discuss a proposed master plan to potential solutions for flooding and drainage issues within the Harrison Creek Basin.

The basin roughly runs from Interstate 40 at Jackson Avenue south along both sides of Graham Street to Poplar Avenue.

Engineers with the city and Powers Hill Design will provide information about the stormwater master plan for Harrison Creek Basin and gather input about existing drainage and flooding problems from residents and businesses in the area.

The meeting will be held from 6 p.m. to 7:30 p.m. Call Powers Hill Design at 901-543-8000 for more information, including details on the basin study area.

– Daily News staff

Local Builder Honored By National Trade Publication

Griffin Elkington, a local builder and real estate broker, has been named to Professional Builder Magazine’s 2018 class of 40 Under 40 honorees.

The 15 women and 25 men of the 2018 class were selected from a national pool and have backgrounds in home sales, communications, land development, marketing, operations and purchasing.

In Memphis, Elkington leads Griffin Elkington Residential Construction and Development, a firm that specializes in new construction, remodeling, additions and infill development.

“It speaks well of the future of the industry to see the amazing talent and incredible achievements of these young homebuilding professionals,” Denise Dersin, editorial director of Professional Builder Magazine, said in a release. “And it gives us great hope for the future to see these young leaders compassionately contribute their time and energy to altruistic causes both locally and globally.”

Professional Builder Magazine is a national trade publication for the country’s homebuilding community, including builders, designers and trade partners.

– Patrick Lantrip

Pinnacle Gets New Senior VP in Atoka

Terry Fiveash has joined Pinnacle Financial Partners as a senior vice president and mortgage adviser, based at Pinnacle’s loan production office at 13690 U.S. 51 in Atoka.

Fiveash brings 11 years’ experience in the mortgage lending industry to Pinnacle. Previous roles were with Patriot Bank in Atoka, where he was a mortgage loan officer, and MorEquity in Memphis, where he was a mortgage loan originator.

As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia.

– Andy Meek

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 56 9,658
MORTGAGES 0 49 10,665
FORECLOSURE NOTICES 0 12 1,301
BUILDING PERMITS 0 548 21,505
BANKRUPTCIES 0 256 6,219
BUSINESS LICENSES 0 64 4,003
UTILITY CONNECTIONS 0 60 2,952
MARRIAGE LICENSES 0 52 2,073