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WSG Pencils $160M MXD Midtown Memphis Project

MEMPHIS-WSG Development Co. hopes to break ground by the end of the year on the project which will include residential, retail, office and a hotel.

By Natalie Keith | Updated on January 15, 2008

MEMPHIS-Miami Beach-based WSG Development Co. is planning to develop Midtown Memphis, a mixed-use project on Poplar Avenue. The proposal carries an expected price tag between $160 million and $180 million.

WSG has submitted a site plan to the city for approval. Current plans for the project include 200 apartments and townhomes, 50,000 to 60,000 sf of class A office, a hotel and 600,000 sf of retail. WSG is hoping to break ground by the end of the year with an anticipated completion date of winter 2009, WSG Development president and CEO Eric Sheppard tells GlobeSt.com.

The project will be located on six blocks of a blighted urban area. It took WSG four years to acquire the 150 separate parcels which make up the project site. WSG Development will develop the project in cooperation with the City of Memphis and the Memphis and Shelby County Community Redevelopment Agency. “This property is integral to the revitalization of this area and an exciting addition to the Memphis landscape,” says City of Memphis CFO Robert Lipscomb, in a prepared statement.

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