March 26, 2013
Forbes has named Memphis, TN #12 out of their list of 15 Emerging Downtown Cities!
Home to Beale Street, downtown Memphis has welcomed a flurry of redevelopment projects over the past few decades. In December, a 200-page, 20-year-long plan was proposed to continue efforts. The Pyramid Arena is currently being redeveloped as a massive mixed-use site by Bass Pro Shops that will tout an aquarium, bowling alleys, retail, and a hotel. The city is also carving out bike and walkway paths in the area, thanks in part to a $15 million federal grant. Plans to restore and convert the historic Chisca Hotel into market-rate residential housing kicked off in 2012. Apartments in downtown were 93% occupied as of the end of 2012 with hundreds more units in the construction pipeline, according to the Downtown Memphis Commission. The population rose 7% from 2000 to 2010, according to the commission, much of that increase attributed to young professionals.
source: Forbes.com & TNVacation.com