Loeb strategy: Pack Overton Square
After restoring district, next comes programming
Music pulsed from the outdoor stage Thursday night as about 1,000 twenty- somethings danced, drank and mingled in Overton Square’s Tower Courtyard.
A tall, slim man walked around and observed everything that was going right and wrong with the first of 18 weekly “Thurs- days Squared” concerts.
By 8:30 p.m., Louis Loeb perched himself high above for one last look before going home.
“This feels good,” the executive vice president of Loeb Properties said from atop the new Overton Square parking garage. “I really feel good about seeing everybody here having a good time.’’
He and his brother, Loeb Properties president Bob Loeb, have spent about $16 million so far restoring and adapting the charming old buildings of the Midtown entertainment district.
They’ve commissioned and installed substantial pieces of public art throughout the district.
They’ve signed 16 new business tenants for the 102,000 square feet, renewed leases with two, and have built such value that they can be choosy in filling what space is left.
But this past week, the Loebs launched yet another major piece to their strategy for success: Programming.
Overton Square is organizing public events like Thursdays Squared and hosting private ones, all designed to expose more and more people to the district’s businesses.
The strategy worked Thursday night.
Sweet Noshings in the Square had to stay open until 8:15 Thursday night — 15 minutes past normal — because of the extra customers drawn to the concert.
“We’ve probably seen an extra 15 percent,” coowner Jerry Mincey said.
The Attic, an apparel shop in Overton Square, was still doing business 20 minutes after its usual closing time. “We were steady through the day, but as soon as it hit six (the concert’s start time) there’s been a steady stream of customers in and out,’’ owner Alexandra Rushing said.
Five nights before, Memphis University School inaugurated The Atrium as a rental space. The art decostyle banquet room can accommodate 300, and offers stylish private bathrooms and a catering kitchen complete with 850-pound ice machine.
The Atrium is on the second floor of what had been the Palm Court building. The airy hall’s exposed, arched trusses are as much sculptures as structural supports.
The Atrium is where MUS held a spring formal so successful that the school now wants to reserve The Atrium for the next formal on April 11, 2015, according to Amber Leet, the Square’s venue project manager.
Most of the MUS students had never been to Overton Square before and some had never heard of it, school officials told Leet after the event.
“Students & Staff stated that this was the best band and venue they have ever experienced!’’ Leet wrote in an e-mail to her colleagues at Loeb Properties.
“... The students stated at their follow up that they couldn’t see how the formal could be any better than the one in The Atrium & Tower Courtyard at Overton Square!’’
Tower Courtyard and The Atrium are two of four venues for public or private events. The third is Griffin Garden, a small outdoor area where up to 30 people can be entertained with a small performance space. The fourth is entertainment space at the foot of the 25-foot-tall sculpture on the corner of Madison and Cooper.
The Atrium rents from $2,500 to $3,500, and has weekday hourly rates. The rent for the outside spaces depends on the size and type of event.
Loeb Properties is partnering with Resource Entertainment Group to put on the Thursdays Squared concerts. They will continue at 6 p.m. each Thursday until Aug. 28. The cover charge will range from $5 to $15.
“I was told they ran out of wristbands,” Louis Loeb said while looking down on the mass of people form the top garage deck.
Loeb spotted a few things to tweak: The staff didn’t anticipate so many concert-goers approaching from the northwest corner (behind Memphis Pizza Cafe.); Maybe there will be a way to invite children and keep them out of the drinking area.
But so much seemed so right, Loeb said, “I’m pleased enough that I’m going home.”