Memphis- 3rd Soberest City (?)

So Memphis has been declared the third "Soberest City" in the United States....in fact the top three cities are all in Tennessee. Bristol being number one and Nashville being number two------REALLY? Does anyone else have a problem believing this? I have lived in Nashville and Memphis and can attest that both cities know how to party.
Downtown attracts many people from all over the world. And while some folks are tea-totelers, most have an affinity for enjoying themselves. In fact, I have often said that moving to Harbor Town is like moving back to the dorm- only you don't have to study! South Bluffs too! Heck, all of downtown knows how to party!
I am not saying that there are a bunch of drunks hanging around everywhere but these people DO know how to have a good time.
Maybe downtown Memphis just goes against all of the official data? Worlds fattest city? NOT downtown Memphis. You will find people jogging, walking and riding bikes all over the place. U.S.'s most violent city? NOT downtown Memphis- 38103 is the the safest zip code anywhere near here. In fact we are a real COMMUNITY- meaning that we all know each other and we take care of each other. If there is someone who doesn't belong here we question it.

When you move to Memphis- Make downtown Memphis your desination. You will have a really good time!

Why Invest in Downtown Memphis?

Why invest in downtown Memphis? Because huge global businesses are! Read on....this was excerpted from "Electric, Light and power International".......
Mitsubishi Electric Power Products, Inc. announced yesterday that it has selected Memphis, Tennessee, as the headquarters for the company’s heavy electrical equipment production in North America.

A new $200 million, 350,000-sq.-ft. facility will initially produce large power transformers, occupying almost 100 acres in the Rivergate Industrial Park. Plans call for the plant to open with 90 employees and reach about 275 at full production.

Mitsubishi Electric Power Products expects to hire most employees locally, with recruiting set to begin this year. This will be followed by extensive employee training throughout 2012 in Memphis and Japan.

In addition to local jobs, the new plant will require numerous local suppliers for machined and fabricated materials and other products and services.

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."

The Pinch District

Have you ever wondered how "The Pinch" district got it's name?

First, let's discuss where "The Pinch" is located. It is the blighted area around the (now vacant) Pyramid arena. The Pyramid is now slated to become Bass Pro stores flagship retail shop. It is bounded on the west by the Wolf River Harbor , on the north by Auction Street, on the west by Second and on the south by Jackson and the Cook Convention Center. Before it was the home of the Pyramid it was the location of the Memphis Naval Yard.

Between 1845 and 1852 there was Potato famine in Ireland. Over a million people died and many more fled around the globe to escape starvation. Hundreds of thousand came to the United States and some of them found their way to Memphis.

Once in Memphis the Irish immigrants settled in this area . They became known for two things, one was that they were hard workers and two , they were so skinny that they looked like someone had "pinched" their stomachs.... Hence "The Pinch" .

Today the area is in a renewal period. The Pyramid is being retro fitted for Bass Pro and the surrounding area is being bought up by hotel chains, restaurants and the like. Those properties that are sitting vacant are being bought up through the cities immanent domain program. The few business that are still in existence will either remain or be relocated .

This area holds particular promise for those who want to be " pioneers". There is already one condominium building called "Harbor Lights" , it was built about three years ago and got caught up in the "bad market". Recently the units that remained after the initial marketing period was sold at auction by the bank. There were some amazing deals to be had at that auction. As of now the condos are all sold, but I am sure that there will be more projects coming off the drawing board.

If you are looking for an exciting place to invest , this area will offer some opportunities as the Bass Pro development comes to fruition.




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Harbor Crest

After reading an earlier post where I went into detail about the various neighborhoods on Mud Island, a friend of mine (who is also a realtor) contacted me to remind me that I had failed to mention one area, so I will mention it now-it is Harbor Crest.

Harbor Crest is a development that lies just to the north of Harbor Town and offers 36 custom built homes. Some of them are facing the Mississippi River while others are located on a quiet cove off the beaten path.
They vary in price anywhere from the mid 200ks to the 700ks. The neighborhood backs up onto the Harbor View community and offers home buyers another affordable option .

There are also many apartments on the island that are available. And believe me, they are not all created equal. If you are only planning to live in Memphis for a short while (6 months or so) you may want to rent. If you are staying for a year or more buying a home will probably be the best idea as prices and interest rates are at all time lows. If you do want to rent before purchasing ( to get an idea of what it will be like to live here) be sure to rent in "The Arbors". These apartments act like book-ends for the community of Harbor Town. Here you will be able to enjoy all of the Harbor Town amenities such as the walking trails, pubs and restaurants. If you move to any of the other apartments on the island you may as well move to the sub-burbs as your experience will be very generic. Most of the apartments are too far away from the town center to be pedestrian friendly so you will wind up using you car....and if you are going to drive everywhere you have missed the entire point of living downtown!

I want to reiterate that I ONLY sell homes and I do NOT rent apartments I am only posting this information for the convienience of people moving into the area. If you want to rent an apartment please contact the apartment rental office. The Arbors rental office number is 526-0322.

Ahhhh...Harbor Town

Ahhhhhhh.......Harbor Town!

People who live here say that it feels like being on vacation everyday! Shops,
friends, restaurants, school, river park, ponds, marina, doctors office.....If you are moving to Memphis- you want to live here!

Living it up in Downtown Memphis: Preview "Mud Island"

Living it up in Downtown Memphis: Preview "Mud Island"