Millions of dollars help to revitalize Downtown Memphis

Millions of dollars help to revitalize Downtown Memphis

MEMPHIS, TN (WMC) - A Downtown Memphis building with more than 100 years of history now has hope for a future.

An investor hopes to take the vacant property at 119 Madison Avenue and turn it into apartments on top of a coffee shop.

That project is just one of several looking to revitalize and transform Downtown Memphis.

"There are a lot of active projects," Terence Patterson of Downtown Memphis Commission said. "There are a lot of projects underway; a lot of projects that are planned."

Just a few blocks away from 119 Madison Avenue, more than 100 apartments are being built.

Service Master's Global Headquarters are also coming to Downtown Memphis. The building is scheduled to open in early 2018.

There are hundreds of millions of dollars being put up to transform the landscape in Downtown Memphis.

"We're trying to attract more people Downtown. That's people that (sic) are living, working, and playing," Patterson said. "We're also in the business of making sure that property values are increasing. So we want to make sure that we're increasing vibrancy and we're creating great environments and opportunities."

"I think it's awesome," said Brad Beall, who lives downtown. "The biggest thing is jobs. It's going to create a lot of jobs and really help the downtown economy."

"I love the growth. It's great," Shelby Douglas said. "It's going to bring money and everything to downtown and just the bigger it gets, the more events will come here."

Memphis Downtown Commission feels it has a great head start on making Downtown even more vibrant.

"We feel like we've got great momentum and we're well on our way," Patterson said.

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