Magna Bank and Metropolitan Bank announced today they’re financially backing construction of Phase II of the Crescent Bluff Apartments in the South Main neighborhood Downtown.
The two banks are jointly participating in $14 million of funding for construction of the apartments, Phase II of which is expected to be finished in 14 months. Phase II of the project will focus more on one-bedroom apartments and will have features like stainless steel appliances, granite countertops, balconies and nine-foot ceilings.
Monthly rents will be limited to $450, $550 and $665 in Crescent Bluff. There will be 172 units in Phase II ranging from 500 square feet to 1,000 square feet. Site work has begun, and the first units have been targeted for occupancy by the end of this year.
The banks are acting both as traditional bank lenders for the project as well as investors, because they’ve bought tax credits to help with the financing.
Forbes has a piece up now that presents “10 things you might not know about FedEx billionaire Fred Smith.”
Things like how he overcame a bone disease as a child and how a disagreement with a professor at Yale lead him to develop the business model for an express package delivery service.
The full piece is here.
Memphis musician Chris Milam is coming to you in 2014 instead of asking you to go to him.
He’s planning a series of concerts at “non-traditional” venues around the metro area he’s calling his “901 Series.”
They’ll be six shows in places that could be anywhere from an art gallery to a wine cellar. They’ll be in Germantown, Downtown, Midtown, East Memphis, Cordova/Bartlett, and he’s also planning “one megashow” at Christmastime.
The first show is Feb. 21 in at the Winter Arts Studio at Saddle Creek, 2055 West Street at 8 p.m. (doors open at 7 p.m.).
More info here.
Ardent Studios is holding its first in a series of music industry mixers at the end of this month.
The event, at 2000 Madison Ave. Jan. 30, happens at 5:30 p.m. and will let guests mingle with representatives of Ardent, L Nix Mastering, the Memphis Music Foundation, Martin Music, Bluff City Sports Print Inc, ERF Design, AGMW as well as with other musicians, producers, engineers and industry professionals.
There will also be food and drink provided by Central BBQ and Schlafly beer.
More info here.
On Monday, Jan. 20, in honor of Martin Luther King Jr. Day Microsoft’s Bing search engine will feature the Lorraine Motel.
Bing, which presents images from around the world each day, will display the plaque in front of room 306 at the Lorraine on Monday, which Bing searchers around the world will see when they pull up the site to perform a search.
Also, Bing For Schools – www.bing.com/schools – will help teachers create lesson plans about the civil rights movement and the National Civil Rights Museum on Monday.