Downtown Memphis might soon see an eight-story multiuse complex near FedExForum.
On Nov. 14, developer Gbenga Adebanjo of Camp Solomon LLC filed an administrative site plan with the Memphis and Shelby County Division of Planning and Development for an eight-story, 92-unit mixed-use development at 500 Beale St.
The proposed development would include 14,000 square feet of retail and commercial space on the ground floor. The apartment units would be located on floors 2 through 8, with residential storage on each corresponding floor. Additionally, an 82-vehicle parking garage would be added on the basement level along with 18 parking spaces on the ground floor adjacent to the commercial space, according to site plans.
“A landscaped plaza is provided at the ground level, creating an active courtyard between the street, commercial space, and the residential lobby,” Adebanjo wrote in a letter of intent. “We believe that the project will add to the improvement of the district and meet both residential and commercial needs of the area.”
The 1.12-acre development is located on two parcels. In 2011, Adebanjo purchased both lots, which are listed as 0 Beale Street, for a total of $33,000, according to the Shelby County Register of Deeds.
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The proposed 500 Beale St. development will be located directly across from developer Kevin Adams’ The Walk project. Danny Thomas Boulevard is the dividing roadway between the two projects.
Tentative residential unit break down for 500 Beale St.
Adebanjo is the founder and CEO of Memphis-based GoodLife Medical Center. Chicago-based NIA Architects and Terra Engineering are the architect and design firms associated with the project, according to site plans.
Neil Strebig is a journalist with The Commercial Appeal. He can be reached at, 901-426-0679 or via X/Twitter,@neilStrebig