Henry Root 
Member since Nov 8, 2010


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Re: “Beale Street Landing: A Timeline

$44 million for this plus $56 million for the trolley system. Add another $40 million to replace the current trolley cars with new ones that do not spontaneously combust. That's $150 million that is pretty much wasted. Maybe this will entice people to move into the Horizon building.

3 likes, 2 dislikes
Posted by Henry Root on 07/05/2014 at 4:58 PM

Re: “Gulp: Bass Pro Wants $110 million

Holy bong-smoke,

Getting past denial is the first step in the road to recovery. It you want to seriously develop N. Memphis as a tourist destination, why not spend $110 million to relocate 201 Poplar? (Hint: President's Island) The halo effect from our jail is limited to bail bondsmen and hot wing joints. Blow up the Pyramid and admit defeat. We already have plenty of vacant buildings downtown. The Sterick Building, the Horizon tower, Peabody Place...those are the most visible reminders of the inescapable reality that Downtown Memphis is simply not a dynamic place. There are plenty of other small buildings that have been boarded up for years.

Who knows what will happen with One Beale. Pinnacle Airlines has an enterprise value of $600M, $100M of it is equity....these type of finances are not consistent with a viable long-term anchor tenant. I live and work in Memphis. As John B so presciently observed, a fiscal calamity is coming. Memphis is losing taxpayers and tax revenue, possibly at an accelerating pace. I work downtown. I am looking out my window at the area bounded by Front, the river, Union, and Monroe. This is the exact center of Downtown Memphis with the best riverfront location. It currently holds a fire station, a parking lot, and the Cossitt library. Hint, hint, hint.

To conclude, blow up all the vacant buildings that are beyond refurbishment. Plenty of green spaces and low rents might lead to gentrification, like Cooper-Young and South Main. When people begin to vote with their feet, other ambitions might follow. Without meaningful population growth, downtown is simply fighting a losing battle. The last thing we need is another taxpayer financed Hail Mary.

Posted by Henry Root on 11/08/2010 at 3:57 PM
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