Memphis City Council Votes YES
Tuesday, December 20, 2011, the Memphis City Council voted to invest $16.2 million in Overton Square, through a parking garage and water detention basin. The Commercial Appeal covered the event (click here for full story):
A crowd of supporters gathered at City Hall to speak in favor of the project. Many said the flood basin would prevent water from flowing into surrounding neighborhoods when Lick Creek swells.
Ekundayo Bandele, the 40-year-old founder and artistic director of Hattiloo Theatre, said his organization plans to construct a new building on land that the city would acquire as part of the Overton Square project. The theater would rent the land from the city.
He told council members that locating his African-American theater near the existing Playhouse on the Square and Circuit Playhouse would turn the area into a true theater district and promote racial integration.
He also said it’s a chance to make Memphis the envy of comparable cities like Atlanta.
The online petition of support for the project garnered over 2,000 signatures before the Council vote.
Loeb Properties looks forward to beginning work on the development in Midtown Memphis. We are currently in the process of talking with prospective businesses about pre-leasing retail or office space.
If you’d like more information about available space at Overton Square, please contact Matt Prince or Aaron Petree.
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