Anyone who knows anything about Memphis wondered when the fairground parcel of land was going to be improved. The property of which we are speaking is what is called the Memphis Fairgrounds. The time has finally arrived, however, and the city of Memphis has submitted an application to the Memphis and Shelby County Land Use Control Board for the Memphis Fairgrounds Planned Improvement. The Land Use Control Board (LUCB) has heard the request by the Memphis Division of Housing and Community Development in November 2019
The Fairgrounds
Before these new plans began, the Fairgrounds included:
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The Liberty Bowl Memorial Stadium
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The Mid-South Coliseum
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Tiger Lane
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The Children’s Museum of Memphis
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Five historic buildings
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Outdoor recreation areas
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Surfaced parking
The property is approximately 155 acres and is bordered by Central Avenue on the north, Hollywood Street on the east, Southern Avenue on the south, and East Parkway South on its western border.
The Planned Development
The revitalized space will house:
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An indoor sports and events complex
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Outdoor recreational fields
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Public playgrounds
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Restaurants
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Entertainment
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Commercial office space
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Multifamily residential on the northern end along Central Avenue
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Retail and hospitality additions that will be privately developed
The plan is to call the area along Central Avenue, the “Village District.”
This district centers on a new north-south street between Early Maxwell Boulevard and Fred Jones Way. Parking will be surface parking in the beginning but will have parking decks installed as needed.
The sports facility dirt-moving is likely to begin in January. Paul Young, director of the Division of Housing and Community Development, said:
“We will start clearing the land for the sports field and the actual youth sports facility. We are working toward a bond closing in April or May next year, which is when we will really get to the bulk of the construction. The initial work would start with existing CIP (capital) dollars that are dedicated to the site.”
The city is planning to construct a new 200,000 square-foot events and sports complex that will include a multipurpose building for basketball, volleyball, cheerleading, gymnastics, track, and more sports competitions. The same structure will house trade shows, graduations, and other such special events. The city explains that this massive building will be a convention center for sports. The complex, along with its amenities, is being called the “Destination District.”
The Development Team
Memphis-based M&M Enterprises and Belpointe REIT, an east coast real estate company, were picked by the city to head up the development of 18 acres on the northern portion of the site. This area is to include 30,000 square feet of retail and 80 hotel rooms. The project consists of 250 apartments.
James Maclin of M&M Enterprises is best known for his Broad Avenue mixed-use project that he is working on with Loeb Properties. Maclin also worked on the redevelopment of the Racquet Club with Dunavant Enterprises to improve the club, tennis complex, office building, add retail shops, condominiums, and townhomes.
Reedy & Company
Memphis continues to grow and improve every day. A random assortment of accolades tossed about in conversations around the city include:
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Among the most affordable cities
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Business in Memphis is booming
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Bike-friendly, pet-friendly, riverfront South Junction in the South Main Arts District
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Experiencing an Urban Renaissance
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Hot housing market
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Big-money investors seem to believe in the future of Memphis
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Fortune 500 companies (FedEx, AutoZone, International Paper)
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St. Jude’s
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Huge medical device companies (Medtronic, Smith & Nephew, Wright Medical)
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The Southern College of Optometry, the University of Tennessee Health Science Center
It’s an excellent time to take a look at Memphis, Tennessee. Contact our company today.
City Seeks Approval on Memphis Fairgrounds Development
