REIMAGE(ING)
City of Memphis
Mayor’s Office of Strategic Planning
Memphis 2020 Growth Plan‐
Memphis 2020 Growth Plan‐ Investing In The Future
Strategic Five ‐
Strategic Five ‐Year Fiscal and Management Plan
GAME CHANGERS/TRANSFORMATIVE
REDEVELOPMENT PROJECTS
PROJECT
BASS PRO AT THE PYRAMID
DESCRIPTION
STATUS
Anchoring the north end of the reborn riverfront is the Bass Pro Shops providing experiential retail that includes indoor waterfalls, massive aquariums, natural exhibits, aviaries, and restaurants. The City of Memphis will be the first major city that has converted a former arena into an economic engine for the future. Under Construction
Total Project Cost: $138,000,000
Funding Sources: PRIVATE, SECTION 108*, BEDI*,
CDBG*,TDZ BONDS* *Reimbursed by TDZ
Redevelopment of the Fairgrounds to include a championship sport’s complex and retail/commercial/housing component. Planning
Estimated Project Cost ‐ $150,000,000
TDZ
CIP*
*Reimbursed by TDZ
Fairgrounds Redevelopment
In conjunction with The Pyramid redevelopment, a six to eight‐block area between the icon and St. Jude will be converted into
an exciting, appealing, vibrant life style retail area. The $150 million project will bring new life
to the convention center area, create a new economic engine for
downtown Memphis, and eliminate the slum and blight that create a competitive disadvantage for
the convention center.
Total Project cost: TBD
Funding Sources: TDZ
PINCH DISTRICT
Planning
REIMAGE(ING)
City of Memphis
Mayor’s Office of Strategic Planning
Memphis 2020 Growth Plan‐
Memphis 2020 Growth Plan‐ Investing In The Future
Strategic Five ‐
Strategic Five ‐Year Fiscal and Management Plan
GAME CHANGERS/TRANSFORMATIVE
REDEVELOPMENT PROJECTS
PROJECT
CROSSTOWN
DESCRIPTION
STATUS
The City of Memphis will assist with the redevelopment of the Sears Pre‐closing
Crosstown Distribution Facility (“Sear Crosstown Multi‐Use Redevelopment Project or Crosstown”) into a multi‐use facility providing employment, medical services, education and housing. The redevelopment of this 10‐story 1.5 million square foot warehouse building and associated structure as a mixed use development that will create a major economic anchor on the City’s north/west side.
Total Project Cost: $190,000,000+
Funding Sources: Private, NMTC, HTC, BEDI, Section 108 and QECB.
The City and the Raleigh community have developed a plan for the
redevelopment of the property that will create a civic plaza containing public facilities that create a more efficient business model with shared space, reduction in operating costs, cost effective staffing; and will eliminate slum and blight
Acquisition Phase
Total Project Cost:$31,500,000
Funding Sources: CIP and Disposition funds
RALEIGH SPRINGS TOWN CENTER
The City and the Whitehaven community are developing a plan for the redevelopment of the property that will include public facilities that create a more efficient business model with shared space, reduction in operating costs, cost effective staffing; and will eliminate slum and blight, special retail and restaurants, educational and cultural components.
TOWN CENTER AT SOUTHBROOK Total Project Cost: TBD
Funding Sources: TBD
Due Diligence