Architecture firm will build HQ, apartments in South Main
November 06, 2014
Memphis Business Journal
A long-time Memphis architecture firm plans to build a new headquarters and apartments in the South Main neighborhood of Downtown Memphis.
Archimania hopes to build a 5,000-square-foot office building, a 20-space surface parking lot and a six-unit apartment building on half an acre at 705 S. Main St., southeast of the intersection of Main and East Carolina Avenue, for $1.7 million.
The firm's principals, Barry Yoakum and Todd Walker, acting as Filament LLC, are scheduled Nov. 11 to ask for a six-year, nearly $337,000 payment-in-lieu-of-tax incentive from the Center City Revenue Finance Corp., the Downtown Memphis Commission's financial arm.
If Archimania meets Design Review Board approval for exterior public art and lighting, and earns a Leadership in Environmental Energy Design certification for the building, its PILOT term will be bumped up to 10 years.
"If all goes as planned, the new office building will be the very first privately owned Net Zero Energy Building in Memphis, and the first building to ever to be designed, owned and occupied by an architecture and development firm in Downtown Memphis," the firm said in its PILOT application.
Also at the site, Archimania is planning to have fruit trees and vegetable gardens, as well as room for outdoor concerts and art openings, the application said.
Construction should begin by December, with the office building finished by August 2015 and the apartment units finished in early 2016. Filament LLC has owned the property since 2010.
The construction team includes Grinder Taber & Grinder Inc. and its partner, Precise Contracting.