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In 2008, the city and Bass Pro Shops reached a tentative agreement, short on details, but based on an intent to develop the then-abandoned structure. [21] On June 30, 2010, after 5 years of negotiating, Bass Pro Shops and the City of Memphis signed an agreement for a 55-year lease for a Bass Pro Shops megastore.
A Lease-Purchase Contract, also known as a lease purchase agreement or rent-to-own agreement, allows consumers to obtain durable goods [1] or rent-to-own real estate [2] without entering into a standard credit contract. [1] It is a shortened name for a lease with option to purchase contract.
The original groundbreaking took place on February 21, 1927, [4] and after only 180 days of construction, Mayor Rowlett Paine [6] —who had allocated US$100,000 (equivalent to about $1.8 million in 2023) [4] to build streetcar tracks specially for servicing [8] the 640,000-square-foot (59,000 m 2) building—cut the ribbon on August 27, 1927 ...
Developers 100 N. Main LLC will purchase the entire 2-acre Downtown Memphis property, including the 37-story tower, for $4.5 million. ... that has increased the cost of construction, which is now ...
The original lease of land for the property, dating from 1926, required the $1,500 monthly payment to be paid in gold coin “of standard weight and fineness or its equivalent.” An unsuccessful 1975 lawsuit by the land owners sought to recalculate the rent at the then-current price of gold, or roughly $13,500 per month.
The proposed $50 million donation and subsequent renovations of Simmons Bank Liberty Stadium are now going through Memphis City Council approval.
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