We should turn the Sterick Building into a Cabelas

(01-06-2015 11:35 AM)ksigtigerdood Wrote:  We should turn the Sterick Building into a Cabelas

(01-02-2015 01:35 PM)downsouth Wrote:  

(01-02-2015 08:36 AM)Latilleon Wrote:  

(12-31-2014 11:21 AM)UofMemphis Wrote:  

(12-31-2014 10:53 AM)k2tigers Wrote:  The technical definition used for a 'skyscraper' is 100 m or more tall, which is 329 feet or more in height. One Beale should become our 8th skyscraper in the city. One of them is vacant, two of them are out in East Memphis.

http://www.emporis.com/city/memphis-tn-usa/skyscrapers

I would be hesitant to build on a fault line, too...look at all the earthquake BS the pyramid had to go through.

The amount of money it would take to re-open the Sterick Building is more than it's worth...

If it were renovated, it'd be worth a lot more. It's in a state of flux waiting for the building to revert to the owners of the land in the next ten years.

The biggest issue with the Sterick is the lease, and of course the financing. Due to its age and design it's fairly impractical to try to redevelop it into commercial space...floor sizes as well as floor heights aren't what they need to be. To redevelop as residential any developer would have to quite the list of pre-leases signed from extremely wealthy people. Apartments won't work, imo...no bank is going to finance that unless they see firm interest from potential buyers up front. That market isn't in Memphis and it's rairly seen in the US outside of a few select cities.

The Sterick needs a developer with a big heart and big wallet who knows up front he's going to lose money. Those don't exist.

Aren't you forgetting the likely asbestos issue?

(01-07-2015 02:03 PM)HiddenTiger Wrote:  

(01-02-2015 01:35 PM)downsouth Wrote:  

(01-02-2015 08:36 AM)Latilleon Wrote:  

(12-31-2014 11:21 AM)UofMemphis Wrote:  

(12-31-2014 10:53 AM)k2tigers Wrote:  The technical definition used for a 'skyscraper' is 100 m or more tall, which is 329 feet or more in height. One Beale should become our 8th skyscraper in the city. One of them is vacant, two of them are out in East Memphis.

http://www.emporis.com/city/memphis-tn-usa/skyscrapers

I would be hesitant to build on a fault line, too...look at all the earthquake BS the pyramid had to go through.

The amount of money it would take to re-open the Sterick Building is more than it's worth...

If it were renovated, it'd be worth a lot more. It's in a state of flux waiting for the building to revert to the owners of the land in the next ten years.

The biggest issue with the Sterick is the lease, and of course the financing. Due to its age and design it's fairly impractical to try to redevelop it into commercial space...floor sizes as well as floor heights aren't what they need to be. To redevelop as residential any developer would have to quite the list of pre-leases signed from extremely wealthy people. Apartments won't work, imo...no bank is going to finance that unless they see firm interest from potential buyers up front. That market isn't in Memphis and it's rairly seen in the US outside of a few select cities.

The Sterick needs a developer with a big heart and big wallet who knows up front he's going to lose money. Those don't exist.

Aren't you forgetting the likely asbestos issue?

Lead paint and asbestos are issues with most "older" buildings. Those issues alone typically don't stop renovation. See the Chisca, Sears Crosstown, Rhodes-Jennings (Lowenstein) Building, etc.

(01-07-2015 03:03 PM)3601 Wrote:  

(01-07-2015 02:03 PM)HiddenTiger Wrote:  

(01-02-2015 01:35 PM)downsouth Wrote:  

(01-02-2015 08:36 AM)Latilleon Wrote:  

(12-31-2014 11:21 AM)UofMemphis Wrote:  I would be hesitant to build on a fault line, too...look at all the earthquake BS the pyramid had to go through.

The amount of money it would take to re-open the Sterick Building is more than it's worth...

If it were renovated, it'd be worth a lot more. It's in a state of flux waiting for the building to revert to the owners of the land in the next ten years.

The biggest issue with the Sterick is the lease, and of course the financing. Due to its age and design it's fairly impractical to try to redevelop it into commercial space...floor sizes as well as floor heights aren't what they need to be. To redevelop as residential any developer would have to quite the list of pre-leases signed from extremely wealthy people. Apartments won't work, imo...no bank is going to finance that unless they see firm interest from potential buyers up front. That market isn't in Memphis and it's rairly seen in the US outside of a few select cities.

The Sterick needs a developer with a big heart and big wallet who knows up front he's going to lose money. Those don't exist.

Aren't you forgetting the likely asbestos issue?

Lead paint and asbestos are issues with most "older" buildings. Those issues alone typically don't stop renovation. See the Chisca, Sears Crosstown, Rhodes-Jennings (Lowenstein) Building, etc.

Ever been in the Sterick? Ceilings are low, very low. Add in the asbestos remediation and goodness knows what else, and that building is likely doomed.

(01-07-2015 04:17 PM)HiddenTiger Wrote:  

(01-07-2015 03:03 PM)3601 Wrote:  

(01-07-2015 02:03 PM)HiddenTiger Wrote:  

(01-02-2015 01:35 PM)downsouth Wrote:  

(01-02-2015 08:36 AM)Latilleon Wrote:  If it were renovated, it'd be worth a lot more. It's in a state of flux waiting for the building to revert to the owners of the land in the next ten years.

The biggest issue with the Sterick is the lease, and of course the financing. Due to its age and design it's fairly impractical to try to redevelop it into commercial space...floor sizes as well as floor heights aren't what they need to be. To redevelop as residential any developer would have to quite the list of pre-leases signed from extremely wealthy people. Apartments won't work, imo...no bank is going to finance that unless they see firm interest from potential buyers up front. That market isn't in Memphis and it's rairly seen in the US outside of a few select cities.

The Sterick needs a developer with a big heart and big wallet who knows up front he's going to lose money. Those don't exist.

Aren't you forgetting the likely asbestos issue?

Lead paint and asbestos are issues with most "older" buildings. Those issues alone typically don't stop renovation. See the Chisca, Sears Crosstown, Rhodes-Jennings (Lowenstein) Building, etc.

Ever been in the Sterick? Ceilings are low, very low. Add in the asbestos remediation and goodness knows what else, and that building is likely doomed.

Like I wrote before, I have doubts about the viability of the Sterick Building. However, there is hope until the wrecking ball takes her down.

(01-07-2015 04:17 PM)HiddenTiger Wrote:  

(01-07-2015 03:03 PM)3601 Wrote:  

(01-07-2015 02:03 PM)HiddenTiger Wrote:  

(01-02-2015 01:35 PM)downsouth Wrote:  

(01-02-2015 08:36 AM)Latilleon Wrote:  If it were renovated, it'd be worth a lot more. It's in a state of flux waiting for the building to revert to the owners of the land in the next ten years.

The biggest issue with the Sterick is the lease, and of course the financing. Due to its age and design it's fairly impractical to try to redevelop it into commercial space...floor sizes as well as floor heights aren't what they need to be. To redevelop as residential any developer would have to quite the list of pre-leases signed from extremely wealthy people. Apartments won't work, imo...no bank is going to finance that unless they see firm interest from potential buyers up front. That market isn't in Memphis and it's rairly seen in the US outside of a few select cities.

The Sterick needs a developer with a big heart and big wallet who knows up front he's going to lose money. Those don't exist.

Aren't you forgetting the likely asbestos issue?

Lead paint and asbestos are issues with most "older" buildings. Those issues alone typically don't stop renovation. See the Chisca, Sears Crosstown, Rhodes-Jennings (Lowenstein) Building, etc.

Ever been in the Sterick? Ceilings are low, very low. Add in the asbestos remediation and goodness knows what else, and that building is likely doomed.

I am wondering how in the world the 100 N. Main Building will be functional with its low ceilings. And from what I hear about its new owner, I doubt it will ever be developed.

(01-08-2015 03:27 AM)21-17 Best Time I Ever Ha Wrote:  

(01-07-2015 04:17 PM)HiddenTiger Wrote:  

(01-07-2015 03:03 PM)3601 Wrote:  

(01-07-2015 02:03 PM)HiddenTiger Wrote:  

(01-02-2015 01:35 PM)downsouth Wrote:  The biggest issue with the Sterick is the lease, and of course the financing. Due to its age and design it's fairly impractical to try to redevelop it into commercial space...floor sizes as well as floor heights aren't what they need to be. To redevelop as residential any developer would have to quite the list of pre-leases signed from extremely wealthy people. Apartments won't work, imo...no bank is going to finance that unless they see firm interest from potential buyers up front. That market isn't in Memphis and it's rairly seen in the US outside of a few select cities.

The Sterick needs a developer with a big heart and big wallet who knows up front he's going to lose money. Those don't exist.

Aren't you forgetting the likely asbestos issue?

Lead paint and asbestos are issues with most "older" buildings. Those issues alone typically don't stop renovation. See the Chisca, Sears Crosstown, Rhodes-Jennings (Lowenstein) Building, etc.

Ever been in the Sterick? Ceilings are low, very low. Add in the asbestos remediation and goodness knows what else, and that building is likely doomed.

I am wondering how in the world the 100 N. Main Building will be functional with its low ceilings. And from what I hear about its new owner, I doubt it will ever be developed.

That developer is proposing a hotel. You can get by with ~9' floor heights for residential and hotels. You need 13'-15' for commercial/office space.

The issue with the current owner is another story completely.

(01-09-2015 08:02 PM)downsouth Wrote:  

(01-08-2015 03:27 AM)21-17 Best Time I Ever Ha Wrote:  

(01-07-2015 04:17 PM)HiddenTiger Wrote:  

(01-07-2015 03:03 PM)3601 Wrote:  

(01-07-2015 02:03 PM)HiddenTiger Wrote:  Aren't you forgetting the likely asbestos issue?

Lead paint and asbestos are issues with most "older" buildings. Those issues alone typically don't stop renovation. See the Chisca, Sears Crosstown, Rhodes-Jennings (Lowenstein) Building, etc.

Ever been in the Sterick? Ceilings are low, very low. Add in the asbestos remediation and goodness knows what else, and that building is likely doomed.

I am wondering how in the world the 100 N. Main Building will be functional with its low ceilings. And from what I hear about its new owner, I doubt it will ever be developed.

That developer is proposing a hotel. You can get by with ~9' floor heights for residential and hotels. You need 13'-15' for commercial/office space.

The issue with the current owner is another story completely.

Yea, that Isaac Thomas guys seems real sketchy.

Founder of Carlisle corp passed away today

(05-29-2015 06:37 PM)Bathtub Gin Wrote:  Founder of Carlisle corp passed away today

I knew Gene for many years sad to hear.

I hate to hear this. He seemed very interested in Memphis and downtown. Hopefully his sons will be able to carry on his work. RIP.

I wonder if this project gets shelved because of his passing

(05-30-2015 12:36 PM)Bathtub Gin Wrote:  I wonder if this project gets shelved because of his passing

One of the new stories I read reported that the projects will go on.

Where did you read that?

(06-01-2015 10:54 AM)Bathtub Gin Wrote:  Where did you read that?

Another story in the ca today.

(01-08-2015 03:27 AM)21-17 Best Time I Ever Ha Wrote:  

(01-07-2015 04:17 PM)HiddenTiger Wrote:  

(01-07-2015 03:03 PM)3601 Wrote:  

(01-07-2015 02:03 PM)HiddenTiger Wrote:  

(01-02-2015 01:35 PM)downsouth Wrote:  The biggest issue with the Sterick is the lease, and of course the financing. Due to its age and design it's fairly impractical to try to redevelop it into commercial space...floor sizes as well as floor heights aren't what they need to be. To redevelop as residential any developer would have to quite the list of pre-leases signed from extremely wealthy people. Apartments won't work, imo...no bank is going to finance that unless they see firm interest from potential buyers up front. That market isn't in Memphis and it's rairly seen in the US outside of a few select cities.

The Sterick needs a developer with a big heart and big wallet who knows up front he's going to lose money. Those don't exist.

Aren't you forgetting the likely asbestos issue?

Lead paint and asbestos are issues with most "older" buildings. Those issues alone typically don't stop renovation. See the Chisca, Sears Crosstown, Rhodes-Jennings (Lowenstein) Building, etc.

Ever been in the Sterick? Ceilings are low, very low. Add in the asbestos remediation and goodness knows what else, and that building is likely doomed.

I am wondering how in the world the 100 N. Main Building will be functional with its low ceilings. And from what I hear about its new owner, I doubt it will ever be developed.

if you can't pay your MLGW bill renovating the building is a pipe dream.

(06-07-2015 07:13 AM)3601 Wrote:  

(06-01-2015 10:54 AM)Bathtub Gin Wrote:  Where did you read that?

Another story in the ca today.

That's promising. I'd expect that for the Chisca, but not so much for Lyfe, and therefore maybe not so much for One Beale. So the fact that it's been reported that all projects will continue is promising. Who becomes the new CEO of Lyfe? I'm sure that Carlisle still retains their minority investment in it. Hopefully the rest of the leadership there sees the tremendous change and evolution of the region, especially with Musk entering, and the overall strength of the local-based restaurant comunity. I'm still hopeful for One Beale (wish the design weren't so boxy and unadorned).

And maybe it's better that 100 North Main doesn't work out. There are many hotel rooms downtown u/c, approved, or proposed (just last week a new one by BPS was proposed).

I want my bar back
BRING BACK MY BAR

update:

the main tower will still be 30 stories...2nd tower reduced to 18

PILOT tax breaks will be applied for.

http://www.commercialappeal.com/business...t_09266632

Quote:The payment-in-lieu-of-taxes would save the company $48.3 million and generate $11.7 million more in tax revenue for the city than if the project was not built, officials said.

Chase Carlisle, director of real estate and development for the company, said that calculating the best mix of rooms for a four-star hotel resulted in 18 stories instead of the 22 estimated earlier this year. The plan for that south tower now calls for 255 rooms -- instead of the previous 300 -- as well as 22,000 square feet of meeting and conference space, 8,900 square feet for restaurant and café space and a pool and outer deck.

The north tower remains 30 stories with 168 one-bedroom apartments, 112 two-bedroom, 13,200-square-feet of meeting space and other amenities.