BTH: A Year into the Crosstown Boom
This week on WKNO-TV's Behind the Headlines, host Eric Barnes revisits the continued evolution of an old Memphis landmark.
A year after its ressurection as a massive, mixed use community, Crosstown Concourse co-leaders Todd Richardson and McLean Wilson talk about its redevelopment, from an abandoned Sears distribution center to its current state.
Richardson says that Crosstown Concourse was a learning curve, as they navigated the various stages of development. One of the first problems, Richardson and Wilson admit, was finding the financial security to make sure the plan was executed with enough support to keep it viable for years to come.
Now, Wilson says that the Concourse is functioning under a 20-year loan, from which, once-expired, the project will emerge with no debt. Wilson believes it is critical to the longevity of the building.
Barnes compares the project to other historical buildings and districts being renovated and revived in Memphis, with its impact on the city and future undertakings.
Richardson states that the Crosstown Concourse is “not something you do and walk away from” that it is a growing project, with plans to open a restaurant, bar and a theater by this coming fall.
Bill Dries of the Memphis Daily News also joins this week's discussion.