Posted: Jun 2, 2006 1:05 am
This information was given to me today by a friend at the Center City Commission. The developer is out of Atlanta.
June 1, 2006
Objectives for the Midtown City Center
1. Vital, mixed-use development that's respectful of its neighborhood
2. Increased safety through "eyes on the street"( round-the-clock activity)
3. Improve and utilize parking structure.
4. Provide amenities and services for tenants and neighbors.
5. Support and reinforce the identity of Midtown as a place to live, work, shop and play.
6. Catalyze additional area redevelopment:
- Not a freestanding "mega" project.
- A rising tide to lift all boats.
1. Physically: The project is not an island, but linked to the neighborhood, Watkins, Cleveland and N. Parkway.
2. Economically: Must be economically viable
3. Historically: Unique features of the 1927 Art Deco building are preserved.
4. Culturally: Positive impact on the immediate neighborhood while minimizing potential negative impact.
Service Master: (250,000SF) The anchor tenant at the project, bringing 1,400 jobs to Midtown City Center.
Retail: (195,000SF) Staples, Value City Furniture, Prime Outlets.
Shelby County Service Center: (20,000SF) providing convenient access to governmental services for the community.
Dining: (30,000SF) Featuring fast casual/specialty dining. Rain Forest Café, Chili's too.
Additional retail/service space: ( 26,000SF) Starbucks, Blockbuster video, dry cleaners, floral boutique, fitness center.
Day Care Center: (18,000SF) providing convenient child care to employees and tenants.
Parking: 1,806 spaces on site.
Mixed income housing: (350,000SF.) approx. 200 units, 50 for-sale Condominiums: (loft-style) one and two-bedroom units average price $200,000. Rental apartments: 150 one and two-bedroom units, rents $625-$1,000
Transit :New Mata bus shelters and linkage to proposed Matatrac (light rail)
June 1, 2006
Midtown City Center offers approximately 200 units of new housing geared toward a range of incomes. These include rental apartments and for-sale condominiums within the original 1927 former Sears building.
- 6 efficiency
- 94 one bedroom
- 50 two bedroom
200 parking spaces
Rent range: $625 to $1,000
General occupancy/ workforce housing
Low and moderate income working adults
28% (42 units) affordable at 50% of area median income
- Rent levels: $625- $800
- Household income limits: $25,000- $30,000*
52% (78units) affordable at 60% of area median income
- Rent levels: $740 - $900
- Household income limits: $32,220- $36,840*
20% (30 units) with no income or rent restrictions
- Rent levels: $875- $1,000
Historic loft style condos
- 22 one bedroom
- 25 two bedroom
- 3 tower units
Total parking spaces: 80 dedicated/ secured entry
Average square footage: 1,200
Average price: 200,000
Online video rental "delivered to your door".