Feel free to By submitting this form, you acknowledge that you have read the Memphis Pyramid image by BlankBlankBlank (CC BY 2.0)By submitting this form, you acknowledge that you have read the agreement. Housing and Community Development Director Robert Lipscomb said.
The Springfield, Mo.-based retailer plans to turn the unused Pyramid into one of its signature In the wake of World War II, architect... It was a fun day.Shout-out to Memphis for carrying on the time-honored tradition of building pyramids along the Mississippi River!Your donations are vital to keeping us independent and strong! Finally built in the late 1980s, the idea of erecting pyramids in Memphis, Tennessee actually dates back to 1950s, when artist Mark Hartz envisioned three such structures along the Mississippi. Last year, the city and Bass Pro Shops signed a lease for the Springfield, Mo.-based retailer to occupy a redeveloped Pyramid for an initial period of 20 years, with seven five-year renewals, for a possible total of 55 years. Bass Pro envisions a $100 million regional center with retail shops, restaurants, offices and a Mississippi River exhibit. Most of those polled liked the idea of using arena revenues to finance the building, but they also opposed the use of revenue bonds described as "less secure" than general obligation bonds.
A new, single-pyramid scheme was drawn up, which caught the attention of entrepreneur John Tigrett, whose fortune was already built in part on some wild ideas like Initially, Tigrett’s plan was to build out a whole interactive experience with an arena, radio station, viewing platforms and restaurants, including a Hard Rock Cafe (the chain was developed by his son Isaac). The spending also continues the city's strategy to protect the thousands of jobs at St. Jude Children's Research Hospital, a few blocks east of The Pyramid. Upgrading the facility to meet league standards and the team’s approval would be cost-prohibitive. Bass Pro has been paying the city $35,000 a month since signing the 2009 agreement and committed to paying a $500,000 penalty if it pulled out of the deal. Memphis, Tenn. - Memphis will use its entire allotment of federal recovery act funds - $70 In January, Bass Pro Shops and seismic experts said a much more detailed test of a scale model of The Pyramid was needed to determine if the building could survive an earthquake or if potentially costly retrofitting was needed.
The Memphis Beretta Gallery is located on level two of the Bass Pro Shops at the Pyramid and occupies approximately 1250 square feet. Once Bass Pro Shops commits to remake The Pyramid, Poag & McEwen Lifestyle Centers would launch a related project to redevelop a swath of the Pinch District extending east from The Pyramid toward St. Jude. before signing a long-term lease on the building. The city and county already approved their funding packages. "This is an ideal location for one of our regional destination stores," said Bass Pro president Jim Hagale, adding that Ducks Unlimited would partner with the company on a waterfowl exhibit. I think this is a very unique and special opportunity for us. The deal calls for the city to pay $30 million toward construction and seismic retrofitting costs for The Pyramid, which the city will continue to own. Housing and Community Development director Robert Lipscomb called the agreement "a game changer." The total cost to the city for The Pyramid and a plan to redevelop the nearby Pinch District is about $90 million. In February 2009, the city signed an agreement giving the company until Dec. 31, 2009, to finish planning and gathering the necessary permits before signing a long-term lease. Lipscomb emphasized that none of that $30 million will come from the city budget. When the Grizzlies National Basketball Association team moved to Memphis from Vancouver in 2001, it made a condition of the deal it would only play in the Pyramid … The suit claims the financing plan constitutes an illegal public loan to a private firm. City officials and Bass Pro executives strongly refuted the report, and the leader of the Pyramid Reuse Committee that recommended Bass Pro for the site five years ago told the newspaper that the retailer was still the best option for The Pyramid. 99% Invisible uses cookies to help improve your user experience. "It's serious but it is by no means insurmountable," Wharton said after an update on the project during the Memphis City Council's executive session.
The Pyramid was originally an events arena and the home of the city’s NBA team, the Memphis Grizzlies, and the University of Memphis men’s basketball team. A judge also allowed a lawsuit challenging the financing plan to move forward. superstore. "We unanimously approved Bass Pro and there was never a financially viable plan B," said Scott Ledbetter, who led the committee.
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