MEMPHIS, Tenn. — Memphis City Council members are considering a $55 million dollar proposed project to bring redevelopment to Central Station in downtown Memphis.
This would mean more jobs if Council approves it.
Council members said they wants to have more discussions before moving forward.
Archie Willis wants to redevelop Central Station in downtown Memphis.
“It will bring a new cinema to the downtown area, it will convert an existing apartment complex that’s in the train station now into a boutique hotel. It will add almost 200 units of new apartments,” he said.
But Tuesday, City Council told Willis, who’s with Community Capital, it’s time to learn more about the plan and potential lease between the company and MATA.
“In this arrangement they would be just landlords for the real estate, they would receive a ground lease for the development,” he stated.
Current councilman Harold Collins questioned why MATA would only serve as landlords for the new project.
“Why would MATA be developing a master lease and not city general services or real estate who has responsibility of the building,” he said.
After questions from Collins and several other council members, the Downtown Memphis Commission admitted making this project happen will require a lot of work.
It’s one reason why Council pushed the vote back another two weeks.
“I don’t know if we got all the right information to make an informed decision,” Collins said.
Willis said he’s hopeful that this project will move forward so the area can boom.
Council members are being told if this project is approved, it will also make it easier to connect to the transit system.