December 2014

Developer lines up construction team for $4M Downtown Memphis rehab

The developer behind a planned $4 million, mixed-use rehab project in Downtown Memphis has assembled his construction team as he lines up financing.

Earl Blankenship, chairman and CEO of Mercury Investment Management, said he hopes to close on a loan by the end of January, then secure a nearly $410,000 payment-in-lieu-of-tax incentive from the Downtown Memphis Commission, to begin renovating the buildings at 85, 87 and 91 S. Second St.

Cendown Ltd. LP — a partnership that includes Blankenship and the Canale family, owners of D. Canale & Co. — plans to convert the buildings into 16 apartment units and two restaurants by the end of 2015, as I previously reported.

The company is currently seeking a $2.2 million building permit for “interior renovation” at 85 S. Second St., foreshadowing the closure of the loan, Blankenship said.

The permit unveils the construction team: Montgomery Martin Contractors LLC will be the general contractor and Graham Reese Design Group will be the architect. Also, Blankenship added, creative design firm Farmhouse will provide the branding and marketing for the project.

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Tamp & Tap Preparing East Memphis Location

Tamp & Tap, the popular Downtown restaurant and coffee shop, has applied for a building permit for its East Memphis location.

Tamp & Tap applied for a $244,494 building permit through the Office of Construction Code Enforcement for its location at 6070 Poplar Ave. inside Highwoods Properties Inc.’s Triad Centre III office building in East Memphis.

Earlier this year, Tamp & Tap, located at 122 Gayoso Ave., inked a lease for 2,785 square feet in the office building on Poplar near Shady Grove. Dan Walker Associates Inc. is the contractor, and Graham Reese Design Group is the architect.