Edge District development
A gelato shop is among the tenants for a $3 million project in the Medical District.
Local developers have acquired three properties in the Edge District with plans for a gelato shop at one of the locations.
A development group that includes PKM Architects, the architect on the project, and cnct. development purchased three properties in the Medical District, including 655 Marshall Ave. Sweet Magnolia Gelato Co. has already signed a lease to open a shop at the location.
The group also purchased 631 and 644 Madison Ave. Tenants have not been announced for those locations, but members of the development group said they were in “late-stage talks” with a locally-owned cocktail bar and a national technology company.
The Downtown Memphis Commission’s City Center Development Corporation on Wednesday approved three grants collectively worth $240,000 to make exterior improvements to the buildings.
The changes made to the building that will house Sweet Magnolia Gelato Co. include sidewalk repairs, landscaping, new signage and installation of a togo window and new doors and are expected to be completed in June.
Altogether, improvements to the three buildings, all of which are currently vacant, are expected to cost about $3 million, according to grant applications.
Changes to 644 Madison Ave. will yield 10,500 square feet of commercial space and two or three apartments. Upgrades to 631 Madison Ave. will provide space for the future cocktail bar and a revamped patio space.
Austin Magruder, lead designer and managing partner of real estate development for cnct. development and PKM Architects, said he was looking to bring a mix of businesses to the area to “contribute to the energy of the Edge, while also filling voids and creating anchors for a live-work-play district.”
Magruder was behind The Marshall, which opened in the Edge in 2018.
John Halford, the development’s managing partner and cnct.’s lead project manager, said the team was confident in the future of the neighborhood.
“As architects and developers, our focus has been on adaptive-reuse projects. Each project represents a unique challenge to preserve history and the opportunity to tell a new story through its design and use,” he said in a statement.
Brett Roller, Downtown Memphis Commission vice president of planning and development, said the DMC appreciated being able to use incentives to support projects like the redevelopment of these three properties.
Corinne Kennedy covers economic development, soccer and COVID-19’S impact on hospitals for The Commercial Appeal. She can be reached via email at Corinne.kennedy@commercialappeal.com or at 901-297-3245.