Peabody Place (Memphis, Tennessee)

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Coordinates: 35°08′26″N 90°03′10″W / 35.1406°N 90.0527°W / 35.1406; -90.0527
Source: Wikipedia, the free encyclopedia.

Peabody Place is a mixed use residential, retail, and office redevelopment project located in Downtown Memphis, Tennessee that covers eight city blocks.[1]

Development

The development was planned for years, and the first building was to appear in 1993.[2]

In 2012 the Economic Development Growth Engine (EDGE) announced that it would establish its headquarters in the Tower at Peabody Place,[3] taking about 4,931 square feet (458.1 m2) of space on the 11th floor.[4]

Enclosed Mall

An enclosed mall, with 300,000 square feet (28,000 m2) of space,

Gap joined. While it was initially successful, the excitement quickly fizzled out and the enclosed mall proved to be unable to compete with more convenient suburban alternatives in more affluent neighborhoods that were perceived as safer, due to their demographics.[7] The Jillian's was a 60,000-square-foot (5,600 m2), three-floor entertainment lounge.[8]
Tourists visiting Downtown were also not particularly interested in visiting a mall that had stores similar to those available in their hometowns, so that clientele did not materialize either.

Over several years, most of the stores in the indoor mall were closed. A few were replaced by new establishments, such as Encore restaurant, and Primetime Sports Bar, but those were also unable to gain traction and eventually closed also.[9][10] While the rest of Peabody Place and the Downtown area in general had been performing well, the enclosed mall failed. Many considered the fundamental concept of an enclosed mall to be somewhat antiquated by the turn of the 21st century and particularly inappropriate in dense urban areas, criticizing developer Belz Enterprises, a company historically specializing in suburban properties, for its seeming lack of urban expertise.[citation needed]

In late 2005 the Encore Restaurant and Bar opened at 150 Peabody Place.

FedEx Forum and while concerts took place in Downtown Memphis.[8] Reed said "We dictate the volume at this mall. With the exception of the movie theater, we define foot traffic."[8]

By January 2008, the second floor of the retail area was almost entirely vacant, and Sydnie's Gifts and Walson's Jewelers announced that it was closing.

late-2000s recession.[9] River City Management opened the Primetime Sports Bar in early 2009. It took over the spot previously held by Jillian's.[15] Earlier in 2009, Starbucks in Peabody Place closed. In September 2009 the Encore Restaurant closed.[11] In August 2010 the Primetime Sports Bar closed.[15]

In February 2012, the mall officially closed to the public, while the untouched interior of the vacant mall was still visible from the street until June 2016.[citation needed]

In June 2016, ServiceMaster announced a relocation of its global headquarters to the former mall space, marking an end to years of vacancy.[16]

Notable sights

Peabody Place covers a dense variety of spaces, ranging from the restored historic[17] Peabody Hotel to the Center for Southern Folklore to the nationally recognized[18] and modern street-level offices of the Red Deluxe Brand Development advertising agency. The area encompasses some two million square feet and is connected by skywalks, corridors and trolley stations.[1]

Tourist attractions nearby include Beale Street, FedExForum, the Orpheum Theatre and AutoZone Park. The project's new and restored historic buildings include a 15-story modern office tower, two apartment projects, two museums, and numerous restaurants.[1]

In 2007, the USA Today included in its list of "message[s] from the rooftops" (intentional messages to be seen on Google Earth) a message on the roof of Peabody Place that invites: "come downtown and play.™" [sic]. This was replaced with the ServiceMaster name and logo as part of the companies multi-million dollar renovations and can be seen at coordinates 35.1411673,-90.052704.[19]

References

  1. ^ a b c http://www.belz.com/shopping/peabodyplace.aspx Web Site of Developer (Belz Enterprises, Inc)
  2. Memphis Business Journal
    . January 18, 1993.
  3. Memphis Business Journal
    . May 17, 2012. Retrieved on June 3, 2013.
  4. Memphis Business Journal
    . May 16, 2012. Updated May 17, 2012. Retrieved on June 3, 2013.
  5. ^
    Memphis Business Journal
    . January 13, 2008. Retrieved on June 4, 2013.
  6. Memphis Daily News
    . Thursday March 29, 2007. Vol. 122, No. 59. Retrieved on June 3, 2013.
  7. ^ Beifuss, John (2011-02-04). "It's 'The End' for Muvico's Peabody Place Cinema". The Commercial Appeal. Retrieved 2011-02-14.
  8. ^
    Memphis Business Journal. January 13, 2008. 2
    . Retrieved on June 4, 2013.
  9. ^ a b Risher, Wayne. "Primetime Sports Bar at former Jillian's site has closed in Peabody Place". The Commercial Appeal. Retrieved 2011-02-14.
  10. ^ Sells, Toby. "Encore bistro in Peabody Place serving final meal this week". The Commercial Appeal. Retrieved 2011-02-14.
  11. ^
    Memphis Business Journal
    . September 24, 2009. Retrieved on June 3, 2013.
  12. ^
    Memphis Business Journal. January 13, 2008. 1
    . Retrieved on June 4, 2013.
  13. Memphis Business Journal
    . June 12, 2008. Retrieved on June 3, 2013.
  14. Memphis Business Journal
    . July 18, 2008. Retrieved on July 4, 2013.
  15. ^
    Memphis Business Journal
    . September 8, 2010. Retrieved on June 4, 2013.
  16. ^ "ServiceMaster to Relocate Headquarters to Downtown Memphis". mediacenter.servicemaster.com. Archived from the original on 2016-06-09. Retrieved 2016-06-05.
  17. ^ "Peabody Hotel History at Hotel Web Site". Archived from the original on 2008-10-16. Retrieved 2011-02-14.
  18. ^ "Red Deluxe Office Space Wins AIA Recognition"
  19. ^ Shout a message from the rooftops to the world

Further reading

  • Yawn, David. "Peabody Place driving Downtown Revival."
    Memphis Business Journal
    . August 7–11, 1995.

External links

35°08′26″N 90°03′10″W / 35.1406°N 90.0527°W / 35.1406; -90.0527

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