Business Booming in the Bluff City

From the number one employer in Memphis expanding to new retailers moving in. These are more signs that the local economy is turning around. A global fashion retailer announced plans Tuesday to open new stores in the coming months. That means job creation and more money being pumped into our local economy.

Memphians should prepare for a new 22,000 square foot retail space. H&M announced it's coming to Cordova as well as east Memphis. This is just the latest in a series of businesses set to open its doors this year.

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Overton Square Restaurant Planning Expansion

Lafayette's Music Room is planning to expand in Overton Square.

The construction will expand the business to 1,300 square feet.

They plan to open the expansion mid-February. Loeb Properties, Inc. said Lafayette's Music room will remain open while the expansion is underway.

The venue recently upgraded their current location with the addition of indoor/outdoor bar serving two stories of patio space.

Watch more on Fox 13 Memphis

Lafayette's expanding in Overton Square

Lafayette's Music Room is expanding to create 60 to 80 more seats, a new space for the stage and a green room for performers, landlord Loeb Properties announced Wednesday.

Construction has begun to enlarge the music and bar venue into the 1,300 square feet next door at 2121 Madison that had been occupied by The Attic. The clothing store closed Dec. 31, but the owner still operates another Overton Square business, The Ivory Closet.

Read more in the Commercial Appeal

New Mural Installed on the Highland Strip

A new mural of a blue-eyed, lifelike tiger has been installed on the Highland Strip near the University of Memphis.

The mural, Tiger Eye, was designed by the Loeb Properties team and installed over several days by SignWorks Memphis. 

Using a special technique, the team installed the mural by using a heat-gun application which stretched the printed material over the wall, sticking it to the brick and mortar. 

"The dramatic visual element celebrates the University of Memphis Tigers and reflects the community spirit of  the university neighborhood," Loeb officials said in a press release. 

U of M president, David Rudd approves, calling the mural "imposing, striking and well done" in a tweet on Sunday.

Read more in the Memphis Flyer

Loeb: Tax incentive would make Overton Square hotel 'feasible'

A new, boutique hotel of 100 rooms and parking structure of an estimated 235 spaces will rise in Overton Square, but only if the project is made feasible with a tax incentive.

That's part of the message Overton Square owner Loeb Properties will take to the Economic Development Growth Engine ) board on Wednesday in seeking a "Community Builder" payment in lieu of taxes. The 15 years of tax breaks would cut the project cost by $6.1 million.

The idea is to round out Overton Square's position as an entertainment and theater district, providing a convenient place to stay for out-of-towners who come for a weekend of dining and performances at Playhouse on the Square, Hattiloo Theatre and the new Ballet Memphis headquarters.

Read more in the Commercial Appeal

Loeb Properties Planning $24M Overton Square Hotel

Loeb Properties wants to build on the revival of Overton Square by adding a $24 million, 100-room hotel in the district.

The Memphis-based company and its partners – boutique hotel developer LRC2 Properties and hospitality management company MMI Hotel Group – are seeking a 15-year tax abatement to construct a 100-room boutique hotel at the southwest corner of Cooper Street and Trimble Place, south of Madison Avenue in Midtown Memphis.

According to Overton Square LLC’s application filed with the Economic Development Growth Engine for Memphis and Shelby County, the project’s owners are seeking a 15-year Community Builder payment-in-lieu-of-taxes (PILOT) incentive to build a $24.2 million hotel on the 1.3-acre lot that is currently home to a parking lot situated between the Hattiloo Theatre and Bar Louie.

Read more in the Memphis Daily News

Pottery Studio/Coffee House to Open on Highland Strip

Belltower Artisans, a pottery studio and coffee shop founded in 2016 by college students Micah Dempsey and Christopher Galbreath, has inked a deal to move into a 2,788-square-foot space in the Highland Strip.

Aaron Petree represented landlord Loeb Properties Inc. in the deal.

Belltower Artisans offers a full range of pottery classes, from “Date Night” classes to multi-week beginner, intermediate and advanced level courses.

Dempsey and Galbreath first met in art class while attending Harding Academy, where they were studying pottery making. Eventually the pair opened their first location in Minglewood Hall, before deciding to relocate to the Highland Strip to be nearer to the University of Memphis.

Read more in the Memphis Daily News

Golden India, Overton Square and the Loeb trademark

This week it was revealed that a longtime Overton Square restaurant tenant planned to move — slightly.

Golden India filed an application with the Shelby County Land Use Control Board to have a piece of property at 20 N. Cooper St. changed from its current residential zoning to accommodate a new, 2,900-square-foot restaurant. The site is immediately next door to Ballet Memphis.

If approved, the new Golden India location would be about a three-minute walk from its current home at 2097 Madison Ave. It's a small move geographically, but it's one that would take them outside the Overton Square parameters.

This week’s MBJ cover article, “Defining the shape of the Square,” looks at the federal trademarks for “Overton Square” and “Overton Square Memphis” granted by the U.S. Patent and Trademark Office and registered to Loeb Realty Co. Inc.

Read more in the Memphis Business Journal

Loeb purchases site near Overton Square

Last week, Loeb Properties spent $1.4 million on a site that is currently home to a Burger King near Loeb-owned Overton Square.

The two-parcel property, located at 2090 Union Ave., has a combined appraised value of about $1 million, according to the Shelby County Assessor of Property's website. It is about a block away from the property where Loeb plans to build a new, 7,500-square-foot retail center.

Read more in the Memphis Business Journal