One problem in this scenario is that a very good offer was turned down via Rasberry. The group making this offer has the capacity and a proven track record.
This offer was significantly above the recently appraised value. Rasberry has apparently convinced the owners that the raw "subdivided" land is worth more without the historic landmark. This offer was rescinded 2 weeks ago. Let's hope negotiations can continue and no one rushes the unnecessary demolition of this valuable piece of Memphis architecture and history.
By Chris Shaw
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