HYPERLOCAL NEWS HUB BY THE UNIVERSITY OF MEMPHIS DEPARTMENT OF JOURNALISM

Overton Square Overhaul
Loeb Properties wants to turn a parking lot into a grocery store.

By Nielsen Ferry
March 2, 2011

More than one hundred Midtowners were on hand for
 Loeb Properties presentation
on the redevelopment of
Overton Square’s south side
at Cooper and Madison. 
The event held at
Memphis Heritage’s

Howard Hall was overflowing with citizens.  It was the first time 
the public was able to see the latest in a series of proposals since
Loeb met with merchants and business owners back in December.

“We now have plans that coincide with the Midtown overlay,”
said Bob Loeb Chairman and C.E.O. of Loeb Properties. 
“And we will keep the buildings already located on the south
side of Madison.”

Loeb Properties plans to build a parking garage and grocery store
on top of what is now a parking lot and problem area with
flooding.  The construction would also include space for new
businesses and improvements to the streetscape.

“We are doing our best with reshaping the area,” said Frank
Ricks, an architect with Looney Ricks Kiss.  "One of our goals
is to enhance the pedestrian experience.”

 The big question of the night was about food... which grocery would
come to Overton Square?  Loeb would not say.  He did say the space would be roughly 53-thousand square feet, will have a transparent façade facing Cooper Street, and, if all goes as planned, be finished
in the summer of 2013.

“Simple economics says that you can’t put a mid-grade retail on
such high premium land,” said Loeb.  “A national retail grocer is coming in, but I don’t want to drop any names until the deal is done.”

The excitement was high but several hurdles remain before construction
can begin.  The city still has to approve the estimated $5 million parking garage that would provide added free parking for the
area and concerns over the design and look of the project have
been raised. 

The preservation aspect is such an integral part of the project,
that plans to tear down older buildings to put in a grocery store
on the square were abandoned by an Oklahoma developer last
year. The prospect of suburban-style development of the
property was met with strong objections from Memphis Heritage
and Midtown citizens. 

But this time, the proposal by a local developer is being greeted with
more enthusiasm.

“We are excited and really feel things are going in the right
direction,” said June West, executive director of Memphis
Heritage. “It looks like a win, win for everyone involved.”

Loeb aims to get a commitment from the city by June 30th
of this year for the parking garage and finish negotiations with the grocer
after that. 

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MicroMemphis reporter Nielsen Ferry
Follow Nielsen on Twitter @ twitter.com/nyferry
Contact Nielsen or send us story ideas

Twitter Event Coverage

Read Tweets of coverage by Daniel Wilkerson twitter.com/@MicroMemphis #OvertonSquare
Follow Daniel @ twitter.com/daniel_wilkerson
Contact Daniel with story ideas or comments

Citizens Pack Presentation

Some stood, some were in the hallway,as more than 100 people gathered at Memphis Heritage to hear a local developer's proposal for the square.

Help Design New Overton Square

Loeb Properties says it wants your help in redesigning this entertainment district.  Click here to go to their FB page and participate!

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Couldn't make it to the meeting?

MicroMemphis gives you a quick video wrap-up.  Hear why developer Bob Loeb thinks this is good for Cooper-Young and all of Midtown.

Relevant Articles

Oklahoma Developer Backs Down to Memphis Heritage

C.A. Coverage of Overton Square Plans

Midtown Overlay

See ariel view of plan

You Asked @MicroMemphis

Our followers ask some great questions. We try to answer.

@MicroMemphis Ice skating building? Say what?less than a minute ago via TweetDeckNaomi Van Tol
loraxgotaposse

MicroMemphis Twitter follower @loraxgotaposse wondered about the  old ice skating rink mentioned in our Twitter coverage. 

The rink was inside the Palm Court building, the only  site to be demolished in the plan.

This 2008 issue of Memphis Magazine details the square's past. Highlights: An enclosed ice skating rink, fake snow, lots of shopping, and parades. Overton Square in the 70's. Read the Memphis Magazine cover story about its rise...and fall.

Also- see Memphis Heritage picture collection of old Overton Square.  Great black&whites. 

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