MEMPHIS, Tenn. (WMC) - Exciting projects are in store for the Edge District -- the neighborhood that stretches from Sun Studio to AutoZone Park.
The developer that transformed The Chisca Hotel and The Wonderbread Factory into modern apartments in prime locations, announced two new projects Wednesday. Both are designed to draw visitors to Downtown Memphis and give residents in The Edge another reason to love their neighborhood.
An overgrown, abandoned space between Madison and Union will soon become a $1 million project called “The Ravine.”
Ethan Knight with Development Services Group says “The Ravine” will be a community-led greenspace with a park that includes a playground and splash pad for kids. There will also be a plaza for outdoor shows or yoga classes. The old building next to The Ravine at 435 Madison, at the corner of Lauderdale Street, will undergo a $3 million renovation to become Memphis Made Brewery’s newest taproom.
“We start construction next week,” Knight told WMC Action News 5. “And within six months we’ll have everything cleared out, new concrete put in, and new lighting. Memphis Made’s space will be open. And we’ll have other space for lease hopefully bringing on some additional tenants for that opening.”
The Edge District is where DSG transformed the Wonderbread Factory into The Rise, a new $33 million dollar apartment complex that opened in March. Occupancy is already at 75-percent. Ryan Collett and his wife are among the first tenants.
“Absolutely love the amenities here,” said Collett. “And I’m a huge fan of the pool. And the gym is awesome. Don’t even have to have a gym membership which is great!”
Neighbor Marquis Jackson loves the location.
“You can’t beat it for your buck,” said Jackson. “You stay near downtown. You’re close to Beale Street or close to AutoZone Park. I can’t complain. I love it!”
The Edge is Memphis’ original auto row, where the first car dealerships opened. Today, it’s one of Memphis’ fastest growing revitalization areas. The Ravine is the latest addition to this ever expanding neighborhood.
“I think it’s awesome” said Collett. “I think the more they build up around here, the more people want to move in and come to this area and the longer I’d love to say here.”
“The Ravine will be a fun new space for the edge,” said Knight.
DSG, PGK Properties and the Downtown Memphis Commission are footing the $1 million bill to build The Ravine. DMC president Jennifer Oswalt says redeveloping The Edge is a priority because it’s a vitally important neighborhood and a key tourist destination.