Frenchtown development advances, 440 North update, DivvyUp expands
Community Redevelopment Agency Approves Potential Sale of Former Homeless Shelter Lands
It's hard to imagine that this project has been in the works for four years. The earliest iteration of the concept came shortly after the CRA's acquisition of the old homeless shelter properties along Macomb and West Tennessee in 2014. A year later the Frenchtown Redevelopment Partners LLC, consisting of Bethel Baptist and several adjacent property owners, submitted a proposal for the redevelopment of the CRA-owned land as well as that of the partners. The intention for the development is to create a grand entrance to Frenchtown with a large, mixed-use development that provides missing essential services.
The exact specifications of the development have been revised several times since first being introduced in 2015. At current, the scope of the project includes 174 residential units, a 13,500 sqft urgent care clinic, and several thousand square feet of retail space; the developers are currently assessing the feasibility of bringing a grocery store into the space. At the most recent CRA meeting, the Board unanimously approved proceeding with the negotiation of a sale and redevelopment agreement with the developer. Going forward, staff will work with the developers to find an amenable purchase price for the land and bring it back before the Board for approval. Pending the developers' ability to secure financing, we could finally see movement on this long-awaited project.
440 North Apartments Nearing Construction Phase
We may soon see some activity on the Charles Street Investment Partners redevelopment project, 440 North. The development is planned for 2.3 acres of land at the former site of the Envision Credit Union on North Monroe. It will entail the demolition of the current structure on-site and the construction of a mixed-use building that includes residential and commercial space. The developers are planning to build 230 apartment units, 17 townhome units, and 12,177 sqft of retail/restaurant space.
The initial start of the planning process was intricate; it required land swaps and grant funding to become a financially viable development. The developers sought to purchase the Envision Credit Union main office which was only possible if Envision relocated. Envision subsequently purchased the old City utility building down the street, long desired by a competing development-minded firm, to build a new main location. After Charles Street secured the credit union site, they endured a rocky period during wherein it became unclear which projects would receive funding from the CRA. 440 North was one of the last two developments to make it through the project pipeline in the redevelopment district. Now that the dust has settled, dirt can be turned.
DivvyUp Moving Operations into Larger Facility
DivvyUp is a local success story. They're a custom sock company founded by three Florida State University students during their sophomore years. What sets them apart from any would-be competitors is the charitable twist they've ingrained in their business model. For every pair of socks you purchase, another pair is donated to a homeless shelter/organization. Since opening shop in 2014, the company has continued to expand its operations and reach new milestones in their sales. The homegrown business has plans to relocate to a larger space just northwest of Tram Rd. The 31,694 sqft building will certainly better facilitate their expanding business and growing number of sales.
Drury Inn & Suites to be Built in Killearn
Drury Hotels is seeking to establish its 4th location in Florida at 1690 Raymond Diehl Rd. They plan to construct a 7-story, 180 room hotel at the current location of the Osaka Japanese Steakhouse, which will be relocating elsewhere. They will also be constructing 2780 sqft of meeting space. The hotel brand currently operates more than 150 limited service hotels nationwide.
Strayer University to open TLH Campus
Strayer University, a for-profit university with 78 campuses throughout the country, will be opening a Collegetown location at 699 West Gaines St. While the University primarily conducts its academic operations online, it has satellite campus locations scattered across the Southeast.
The good folks at the Democrat have published an op-ed I wrote about housing affordability in TLH. If you'd like to take a gander, you can read it here.
Do you have a new development tip? Hit me up, I'm always on the lookout.