“This is one of the best public/private partnerships designed as a transit-oriented development that I have seen in years.” – Garrison
December 20, 2017
Downtown Memphis has shown tremendous growth in the past few years, and the $55 million-dollar project that is currently under construction for Central Station is promising even more enhancement to the area.
Central Station Project – Downtown Memphis, TN
So far, the project will include the renovation of a Malco Cinema, three new apartment complexes on at least 17 acres of land, and a new design of the existing, successful Farmers Market which promises to offer even more space to vend with. Relocating the existing businesses will be key to creating the newly constructed design, but will allow for a more efficient use of the area.
The project area was originally deemed underused but a challenge to work with, making the plans to enhance the space an exciting announcement for locals and visitors alike. The goal was to create a multi-use space in the heart of downtown Memphis that would be easily accessible with the new MATA updates being proposed as well. Connections between the businesses could create a more solid foundation for the success of the area, offering consumers more access to fresh foods and local business options to choose from.
Ron Garrison Looks At Equitable Transit Opportunity in New Design
Ron Garrison, former MATA CEO, has said “This is one of the best public/private partnerships designed as a transit-oriented development that I have seen in years.” Garrison was extremely involved in the initial revamp of the Memphis Area Transit Authority, highly improving funding and performance numbers and erasing millions of dollars in MATA debt.
Funding is majorly accumulated, as $52 million has been accounted for through private investments and contributions. Around $3 million in grants have been given for this project, and a remaining $600,000 will be locally contributed. Henry Turley Co. originally proposed this project wanting to give more opportunity to the potential of the land. “It’s the stuff that people continue to ask for, the stuff that people have to drive for,” Turley said
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