2010 Brought in $531 Million in Downtown Investment

This  entry into my blog is a copy of Andy Meeks article in The Daily News appearing today, February 8, 2011.

The Center City Commission's 2010 year-end recap has been released and is now posted on line.

Downtown saw $531 million in total completes investment during 2010

Those completed private sector projects include the expansion of Le Bonheur Childrens Medical Center ($327 million); the completion of Court Square Center ($49 million); the Courtyard Marriott Downtown ($21.1 million); and the Barbooro Flats mixed use commercial and apartment development ($18.2 million).

There is currently $2.4 billion in public and private investment in Downtown projects underway of that have been recently completed.

Nineteen new retailers opened their doors Downtown during 2010. Downtown also welcomed new restaurants, charter schools, a hotel and 2 higher learning institutuions.

The CCC's affiliate boards administered office and retail grants that secured almost 600,000 square feet of office space Downtown during the year.

"Downtown's 6.5 square miles is only a small part of Memphis- about 2 percent of it's geographis area-but this relitively small sace is our whol;e community's brand and a powerful talent magnet that is also the answer to sustainable sprawl", the 2010 recap reads. "If we get this 6.5 square miles right, we can change our image, attract more people and jobs to our community and set ourselves on a path toward financial sustainablity."