MEMPHIS, Tenn. (localmemphis.com) - A well- known developer in Memphis plans to put his stamp on another neighborhood in the Bluff City. Loeb properties received praise for its work redeveloping Overton Square. Now it is taking aim at a local arts district.
"We are looking forward to bringing this project on line to serve as a part of the thriving Broad Avenue and greater Binghampton neighborhood revitalization," said Loeb Properties marketing director Ciara Neill.
Loeb Properties released sketches of its planned development once it razes a 223,000 square foot empty warehouse on Broad Avenue.
Business owners who spoke to Local 24 said they've been meeting with the developer for the past 6 months and are eager to see the project break ground.
"We think it showcases everything good about the urban core," said Pat Brown, co-owner of T Clifton Gallery. "We feel it is an example and an activation of public space and what can be the best."
The development could become home to up to 414 families and include an urban park, dining and retail space. One thing the developer won't change is the iconic water tower.
"It's a landmark," said Jack Steiner, owner of Merchants On Broad. "It's the broad avenue logo, that water tower and that mural. It's one of those things that you can look at over and over again and never get tired of."
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