A Tupelo-based bank has plans to build a regional HQ for its Memphis metro operations at Poplar and I-240.
Renasant Bank is seeking a nine-year Jobs PILOT (payment-in-lieu-of-taxes) from the Economic Development Growth Engine (EDGE) for Memphis & Shelby County. The bank plans to construct a new, three-story, 45,000-square-foot office at 5575 Poplar Ave. located on a 2.7-acre lot owned by Yorkshire Properties LP/Loeb Properties.
Renasant will have a ground lease with the owners. Once the building is constructed, Renasant plans to occupy 30,000 square feet of it and lease out the extra space, which could also be used for future growth. Grinder, Taber & Grinder Inc. is the contractor on the project and LRK is the architect.
Loeb confirmed in October 2018 its plans to demolish the existing buildings at the busy East Memphis corner for new development. At the time, the company simply said it was working with a "lead candidate."