Memphis welcomes construction crews to overhaul Overton Square

Posted by IronPlanet on Aug 23, 2012 2:13:00 AM

Downtown Memphis is usually filled with tourists, taxis and traffic, but construction equipment like backhoes, dump trucks and generators are currently more commonplace around Overton Square. This area of the city is currently the site of multiple construction projects, according to The Commercial Appeal. Local business owners and residents are not bothered by the work going on. In fact, they welcome the excess noise and disruptions caused by construction crews in the area, which was once a booming entertainment district.

"Oh it's fantastic they are finally taking Overton Square and remodeling it and getting it up and running again. Really should create a fantastic theater district here," Clay Shelton, who works in the area, told local news network WMC-TV. "It's fantastic for the area - it's more businesses, it's more people coming in getting to see part of Memphis that those of us who have grown up here know and love."

City officials have been working with private companies like Loeb Properties Inc. to get the massive project off the ground. WMC-TV reports a number of new businesses will be coming into Overton Square as a result of the restoration project, including a restaurant called the Local Gastropub. The eatery will be moving into the former Yosemite Sam's building. There will also be a Five Guys burger shop, a coffee shop and a bakery among other new businesses.

To ensure Overton Square can accommodate all the people who will surely want to visit the redesigned district, city planners have invested $16 million into building a three-story parking garage at 1200 Monroe Avenue that will offer nearly 450 parking spaces, the Memphis Business Journal reports. LRK Inc. and Toles Associates are responsible for the architecture and engineering, respectively, of this garage. According to The Memphis Daily News, the project, which will feature a water detention pool below the garage to handle flooding in the area when it rains, began earlier this week and is expected to take a year to complete.

The Commercial Appeal reports demolition crews began clearing away the old structures in the square to make room for new buildings. Other buildings will be left standing, but renovated and updated, and Loeb Properties predicts it will cost around $20 million to restore and rebuild Overton Square.

Topics: Construction, Industry Headlines