400 new apartments, retail space part of proposed Broad Ave. development

MEMPHIS, TN (WMC) - The Broad Avenue Arts District in Binghampton is undergoing quite the renaissance.

Popular restaurants and shops keep opening, and there are plans to continue the expansion.

The plan is to build 400 new apartments on Broad Avenue. It would sit on 8.5 acres around the water tower and include retail space.

The district already boasts more than 70 restaurants, boutiques, and galleries.

The Light Bulb Depot has been there since the beginning of the area's modern-day renaissance.

"Foot traffic is light, but it's starting to pick up. We're getting a lot of businesses opening around here," Terrance Maclin, Light Bulb Depot manager, said.

Foot traffic is likely to pick up if the proposed mixed-use development gets the green light.

Loeb Properties and multi-family expert James Maclin are teaming up on the project.

A spokesperson for Loeb released the following statement:

"We are looking forward to bringing this project on line to serve as a part of the thriving Board Avenue and greater Binghampton neighborhood revitalization ."

If the land--which is currently zoned industrial--receives approval for residential, then the project is a go.

For the Light Bulb Depot, the future looks bright.

"Lots of growth and the potential to get new business in, we look forward to that," Terrance said. "Oh, it's gonna be amazing.  This place is gonna be very, very lit."

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