Business Development Projects in Memphis
In January of 2003, Cannon Center, a world-class performing arts center at the north end of Main Street, opened its doors. On the South end, Peabody Place Entertainment and Retail Center, a multifaceted entertainment center, opened in fall of 2001. This city within a city attracts more than 8 million visitors annually. It steps from Beale Street, the birthplace of Rock and Roll, and includes the infamous Peabody Hotel, the Orpheum Center, Fed Ex Forum (home of the NBA Memphis Grizzlies) and Autozone Park (home of the AAA Memphis Red-birds), plus nearly 100 restaurants and night clubs.
A $30 million Westin Hotel has been built next to the Fed Ex Forum, replacing a parking lot. Autozone park is a world-class baseball stadium that has been credited with stimulating nearby developments ranging from restaurants, night clubs, retail developments, and commercial and residential projects. The major one is Echelon at the Ballpark, a residential/business facility whose amenities include nine-foot ceilings, pass-through fireplaces, balconies with a ballpark view, a fitness center, and business facilities.
In 2005 projects included the renovation of the Kress Building (listed in the National Historic Register) into an annex of the adjacent Marriot hotel, and renovation of the Lawrence Building into a luxury condominium with unique "live/work" areas on the first floor for professionals who work at home.
Economic Development Information: Memphis Chamber of Commerce, 2969 Elmore Park Road, Memphis, 38134, (901) 372-9457. Tennessee Department of Economic & Community Development, 312 Eighth Avenue North, Nashville, TN 37243; (615)741-1888.
