Pending redevelopment in the Victorian Village (Memphis, Central: 2013, apartment, loan)

[Kabluey]

Didn't see this posted. Pending redevelopment in the Victorian Village hopefully adds fuel to the Memphis turnaround. That's an area with interesting unique potential because of the "spooky" architecture; there's really no place in the region like it, as far as I know. It's something begging to be redeveloped along the lines of Broad (in terms of similarly-minded investors, not in WHAT is there -- which is very distinct -- but the mindset of those entering). Bed and breakfast, restaurants, bars, maybe craft, coffee, or memorabilia shops or record store (if there's room for another in the region these days).

'Spooky' Memphis mansion could bring new life to Victorian Village » The Commercial Appeal

'Spooky' Memphis mansion could bring new life to Victorian Village

"...
For 15 years, Blake has lived directly across Adams Avenue from the one house, the James Lee House, that most resembles the cobwebbed Victorian mansion of TV's spooky comedy.

Built in 1848 and abandoned in 1959, the dilapidated Lee House was tentatively transferred by the city for $1 last month to a private developer with plans to restore the home and turn it into a bed-and-breakfast with five luxury suites.

The new project could be what Blake calls the "tipping point" for the Victorian Village area, a catalyst for other businesses to locate nearby to serve a growing population of students and workers within walking distance of the city's medical center complex.

Karen Carrier, who operates the Mollie Fontaine Lounge on Adams, sees the bed-and-breakfast as part of the "next great gentrification" of a once-neglected part of the city.
...."

[knucklehead_vol]

Originally Posted by Kabluey

Didn't see this posted. Pending redevelopment in the Victorian Village hopefully adds fuel to the Memphis turnaround. That's an area with interesting unique potential because of the "spooky" architecture; there's really no place in the region like it, as far as I know. It's something begging to be redeveloped along the lines of Broad (in terms of similarly-minded investors, not in WHAT is there -- which is very distinct -- but the mindset of those entering). Bed and breakfast, restaurants, bars, maybe craft, coffee, or memorabilia shops or record store (if there's room for another in the region these days).

'Spooky' Memphis mansion could bring new life to Victorian Village » The Commercial Appeal

'Spooky' Memphis mansion could bring new life to Victorian Village

"...
For 15 years, Blake has lived directly across Adams Avenue from the one house, the James Lee House, that most resembles the cobwebbed Victorian mansion of TV's spooky comedy.

Built in 1848 and abandoned in 1959, the dilapidated Lee House was tentatively transferred by the city for $1 last month to a private developer with plans to restore the home and turn it into a bed-and-breakfast with five luxury suites.

The new project could be what Blake calls the "tipping point" for the Victorian Village area, a catalyst for other businesses to locate nearby to serve a growing population of students and workers within walking distance of the city's medical center complex.

Karen Carrier, who operates the Mollie Fontaine Lounge on Adams, sees the bed-and-breakfast as part of the "next great gentrification" of a once-neglected part of the city.
...."

Yea there are so many good things happening all over Downtown and Midtown. Exciting time.

[jabogitlu]

This is pretty cool. I see it as just another extension of the housing/retail encroachment back towards downtown from the older, inner-ring 'burb type developments (Central Gardens, etc). Maybe over the next 25-30 years, Memphis will once again be one continuous, cool city from downtown out through midtown.

[Kabluey]

Update: Downtown committee approves loan for bed and breakfast - Memphis Business Journal

Clip:

"The Center City Development Corp. helped push along redevelopment of the James Lee House into a five-suite bed and breakfast.

The Downtown Memphis Commission entity approved a $130,000 development loan for the project at 690 Adams Ave. on Friday.

Jose Velazquez and J.W. Gibson, operating as James Lee House LLC, are planning to spend $2.25 million redeveloping the 8,100-square-foot house which was built in 1848.

The project has been challenging, taking several years to get to this point, as DMC president Paul Morris outlined for the board.
...."

[knucklehead_vol]

Originally Posted by Kabluey

Update: Downtown committee approves loan for bed and breakfast - Memphis Business Journal

Clip:

"The Center City Development Corp. helped push along redevelopment of the James Lee House into a five-suite bed and breakfast.

The Downtown Memphis Commission entity approved a $130,000 development loan for the project at 690 Adams Ave. on Friday.

Jose Velazquez and J.W. Gibson, operating as James Lee House LLC, are planning to spend $2.25 million redeveloping the 8,100-square-foot house which was built in 1848.

The project has been challenging, taking several years to get to this point, as DMC president Paul Morris outlined for the board.
...."

Cool. I live down the street from Millionares Row. Cool place, but the area around it needs renovating.

[Kabluey]

Originally Posted by knucklehead_vol

Cool. I live down the street from Millionares Row. Cool place, but the area around it needs renovating.

Hopefully this is the start. It is definitely a unique area. REgulations should be imposed that states new buildings in that immediate area have architecture that reflecting the Victorian homes... That would create an environment distinct from S. Main, CY, Broad, Overton Square, Highland, etc.

[jabogitlu]

Completely agree... the neighborhood has been so severely compromised with the apartment towers and juvenile court, that I hope it can rebound. The Victorian Village CDC seems to be competent enough. Hopefully this B&B and Molly's can form a nucleus. I think the development of this property, and the Madison Ave corridor, are our best ideas for reconnecting Midtown to the Medical District.