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“We don’t just want to fill this space—we want to create something remarkable. Memphis’ and Downtown’s growing demographics warrant a concerted recruiting effort for something dynamic, kinetic and sustainable ... ," New building owner,Tom Intrator, said in a statement.
Planned renovations for a warehouse on Virginia Avenue West near Kentucky Street could make more room for artists amid an explosion of Downtown development projects.
Phillip and Joseph Lewis, owners of the Medicine Factory warehouse at 85 Virginia Ave. W., were approved for a $150,000 developmental loan from the Downtown Memphis Commission's Center City Development Corp. board to help fund the renovation.
The Ravine, a $5 million project in The Edge District near Sun Studio, will feature retail and restaurant space, an amphitheater and children’s play structures and water features along the old rail corridor that runs beneath street level near High Cotton Brewing.
"I think this is precisely the kind of grant that CCDC needs to look into doing more of," CCDC board member Ray Brown said before voting to approve the grant. "It's an astonishing building. It's an emergency situation. We have a credible developer who's turning himself into a Downtown hero, if he's not careful, and it takes us a little bit out of our comfort zone and that's a good thing."