New development projects coming to Downtown Memphis

MEMPHIS, TN (WMC) - Downtown Memphis is hoping to have more development in the coming year from the new minority owners at Gibson Guitar to a new grocery store.

The landscape of Downtown Memphis is consistently changing.

Projects like a new grocery store are suspected to be a catalyst for even more growth in the area.

It's one of developer Tom Archer's slower moving downtown projects.

"My guys get to work on it only when they are not working on paying jobs," Archer said.

Archer, a contractor at heart, decided to give the old Liberty Cash Grocery warehouse on Webster a second chance at life.

Since the 1980's, Archer has been rehabbing and restoring old buildings in Downtown Memphis.

It's from that work he was inspired to take on his latest project--a downtown grocery store.

"So I thought if I need, if I want stuff on the way home to grill out, everyone else does too," Archer said.

He expects the restoration to be complete by the end of the year and already bites from several urban market grocery chains interested in moving in.

"I would rather be a landlord, but if we can't get someone interested I think we are going to try and build a small grocery store, a small space the grow to the need," Archer said.

A few blocks down the road, the Gibson Guitar Factory building is getting new life thanks to a New York investment firm in partnership with Memphis' Billy Orgel and his son Benjamin.

However, little is known about what will come of the space.

"I think there's been a lot of speculation, but this is such a key spot, but we welcome all the ideas that are coming," said Downtown Memphis Commission President Jennifer Oswalt.

Oswalt said whichever direction it goes, she said the building is in good hands.

The DMC said these projects are helping to bring more households downtown.

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