Financing question quashes Ashlar Hall restaurant deal

Efforts to lease long-vacant Ashlar Hall to a restaurant entrepreneur were stymied Thursday by Shelby County Environmental Court Judge Larry Potter.

Potter declared the court could find no proof of a Pennsylvania investor cited as a financial backer for a planned renovation of the Midtown mansion.

“You’ve got trouble in river city,” Potter told Kenny Medlin, whose Urban Renaissance Initiative owns the building at 1397 Central.

Urban Renaissance earlier agreed to lease the property to Keith Williamson. Williamson, described as a Memphis entrepreneur, had said he planned to fix the dilapidated building and open Faces Supper Club & Lounge.

The judge said Williamson submitted the name of a financial backer in Pennsylvania. But the court’s record search could find no one by that name, Potter said.

“Not in a million years,” Potter told Medlin, would the judge approve the transaction. The court is involved because Potter earlier imposed fines for extensive code violations. Some problems remain unresolved.

The fines were levied when the castle-like mansion was owned by Robert Hodges, a political celebrity who often campaigned for office under the name Prince Mongo. In 2013, Hodges quitclaim deeded the building to Medlin’s nonprofit.

Medlin said he intends to borrow money for about $325,000 worth of building repairs and find another tenant for the building. Potter continued the hearing to April 23.

Apartment purchase

A Michigan real estate investment company has purchased the Woods at Ridgeway apartments.

Roco Real Estate of Bloomfield Hills bought the complex at 6277 Lake Arbor Drive for $18.5 million, documents filed with the Shelby County Register’s Office show.

Airport gets new VP

A former Milwaukee airport deputy director has been named vice president of operations at Memphis International Airport.

Terry Blue, an 18-year aviation industry veteran, was chosen from 49 candidates vying to succeed John Greaud, who retired in January after 25 years at the airport.

Blue had been deputy director at General Mitchell International Airport since 2008 and served a stint as interim director. He also worked eight years at Denver International Airport.

He is scheduled to start April 27.

Shipyard contract

The U.S. Navy has awarded Ingalls Shipbuilding of Pascagoula, Mississippi, a $604 million contract modification to build the third of five Arleigh Burke-class guided missile destroyers.

The five-ship contract allows Ingalls to buy bulk materials and move workers from ship to ship. Ingalls DDG 51 program manager George Nungesser said the shipyard will build destroyers for the next decade.

Facility expansion

Furniture maker Southern Motion is expanding operations at its facility in Baldwyn, Mississippi. The project represents a $600,000 corporate investment and will create 60 jobs over the next 12 months, the company said.