100 N. Main: Six development groups named as finalists to redevelop Downtown skyscraper

The finalists are 100 North Main Development Partners, led by Kevin Woods; Alexander Company, led by Joseph Alexander; Block Real Estate Services & Sunflower Development Group, led by Aaron Mesmer; Carlisle Development Company, LLC, led by Chance Carlisle; Flaherty & Collins led by David Flaherty; and Russell Glen & Mathews Southwest led by Terrence G. Maiden. 

 

Downtown Memphis Commission president and CEO Paul Young announced the finalists during the State of Downtown presentation Wednesday.

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DOWNTOWN MEMPHIS DEVELOPMENT: Here’s what’s next for 100 N. Main, Raymond James building

While Carlisle and the 100 North Main Development Partners group are local, the four other finalists are all from out of state. Alexander Company is based in Madison, Wisconsin; Block Real Estate Services is based in Kansas City, Missouri; Flaherty & Collins is based in Indianapolis; and Russell Glen & Mathews Southwest is a partnership between two Texas-based development groups. 

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In a previous interview with The CA, Carlisle declined to describe the specific uses he had in mind for the building, saying he wanted to let the DMC's bidding process play out. But he said he did have a path to financing the transformation of 100 N. Main. 

Renderings showed a glass-façade skyscraper rising over Main Street. 

The final decision about who will get to acquire the structure will be made by the Downtown Mobility Authority, the DMC branch that owns the building. 

The decision likely will not come immediately after a preferred firm is identified as the developer probably will not start a due diligence period until that time, Brett Roler, vice president of planning and development for the DMC, told The CA in a previous interview.

These are the other developers who bid on the property: 

• 100 North Main Partnership. Primary: Mark Carlson    
• 18 Main. Primary: Tom Intrator    
• Douglas Development Corporation. Primary: Douglas Jemel     
• Memphis Tower Group, LLC. Primary: William McCrary       
• Summit Management Corporation. Primary: Gregory Averbuch 

Other Downtown Memphis news

During a panel discussion with Rick Shadyac, president and CEO of ALSAC — the fundraising and awareness organization for St. Jude Children's Research Hospital; Kevin Kane, president and CEO of Memphis Tourism; Mark Resnick, acting executive director of the Brooks Museum; and Young discussed St. Jude's planned expansion, the impact of tourism on the Memphis economy, the Brooks Museum's move Downtown and how to attract young professionals to the Bluff City, among other topics.

Young, Memphis Mayor Jim Strickland and Shelby County Mayor Lee Harris also touted other completed and ongoing economic development Downtown, including the convention center, Tom Lee Park renovations and the transformation of the Gibson guitar factory into the new headquarters for FedEx Logistics. 

Wednesday's update on the state of Downtown also highlighted two recent awards from the International Downtown Association. One was for BuildDowntown, the Downtown Memphis Master Plan. The second was for the DMC's work with the city of Memphis and the city's division of housing and community development for the South City Good Neighbor Grant program.