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A new hotel planned for Overton Square is now one step closer to reality. Loeb Properties wants to build a 7-story, 109-room boutique hotel next to the Hatiloo Theatre.
During a meeting at city hall Thursday morning, the measure passed, and Loeb was told it could move forward with the development.
MEMPHIS, Tenn. (localmemphis.com) - A new concept restaurant that aims to feed the need as well as customers is set to open in the former location of Stanley BBQ in Overton Square.
Loeb Properties says the owners behind BOGARD plan to begin construction in the next month on the space at 2110 Madison Avenue. Among those who are behind the venture are co-owners; philanthropist Edward Bogard, Preston Butts Jr. and NBA Coach Lionel Hollins.
BOGARD stands for “Buying One Gives Another Rare Dish.” The concept behind the upscale restaurant is that for every meal purchased, another meal will be provided for someone in need through a partnership with the Mid-South Food Bank.
Stanley BBQ, which had been in the space, closed back in February.
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."
From the number one employer in Memphis expanding to new retailers moving in. These are more signs that the local economy is turning around. A global fashion retailer announced plans Tuesday to open new stores in the coming months. That means job creation and more money being pumped into our local economy.
Memphians should prepare for a new 22,000 square foot retail space. H&M announced it's coming to Cordova as well as east Memphis. This is just the latest in a series of businesses set to open its doors this year.
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"Loeb Properties, the commercial real estate and property management company that revitalized Overton Square, is taking on a new area of town.
The Highland Strip, in the heart of the U of M area, is where representatives with the company are hoping to breathe new life. Representatives said they have renovated some of the existing buildings. They have added the fireball exhibit, right next to Newby's, and they plan to add more public art.
Business owners on the strip are happy to see renovations and changes on the block."