MEMPHIS, Tenn. (WMC) - The City of Memphis has revealed plans for two developers who will help transform underutilized city-owned properties.
The transformation is expected to start in about a year.
The city says there are still a few more details to work out before the renderings will be public.
However, they say the change will have a big impact on the areas.
It's been three years since someone has called Tillman Cove home.
These days, the blighted city-owned property is tagged with graffiti. The windows of the apartments are boarded up.
Moses Brown lives around the corner from the Binghampton eyesore. He has been resident of the area for 50 years.
“I have seen them come and go. I have seen a lot of development,” said Moses Brown, neighbor.
A developer’s vision to transform the complex into a mix use-site, with small commercial retail along Tillman and diverse housing, was just chosen by the City of Memphis.
“There is development interest in this city. We are taking assets that are on the city books and turning them over to make sure we are getting the types of developments that we want in this city, and it coincides with Memphis 3.0,” said Paul Young, Housing and Community Development director.
The plan to transform the eight acres of land is an investment in Binghampton.
It’s a change that Brown is ready to see.
“Something like that will make the neighborhood grow. People, you know, would move back,” said Brown.
But the improvement plans don't stop there.
Across town, nestled next to Clayborn Temple is another lot that is over grown with grass and home to a couple abandoned buildings.
Once again, another developer saw it's potential.
The bid to the city brings more retail, commercial space, and affordable housing coming to the space, bridging the entertainment district to the historic site and ongoing South City redevelopment project.
“I think five years from now we will look back at this time and say that this was a time of a renaissance in our city, where the city is physically changing,” said Young,
These two projects are part of the eight city-owned properties it plans to redevelop with the help of outside developers.
The city hopes to announce more plans of change soon.