MEMPHIS, Tenn. — Wednesday, the board for the Economic Development Growth Engine for Memphis and Shelby County (EDGE) agreed to invest more money into renovations at the 100 North Main building downtown.
The EDGE board voted to amend their 100 North Main loan agreement, granting project leaders another $1.8 million for the massive overhaul of the tallest building in the Bluff City, which has stood empty since 2014.
This is in addition to the $5 million loan EDGE is already contributing, which was approved earlier in 2024. It all goes towards the $261 million revamp of the 37-story building.
Project leaders say the additional funds would help bridge the cost for additional vehicles and appliances.
With demolition efforts already up to the 18th floor, project leaders said they are constantly encountering more obstacles in the 60-year-old structure, including up to a dozen elevators that were severely vandalized.
“We’re actually tracking this progress, and we’re really excited about the progress they’re making. And the speed, because it could potentially be online even quicker, [which will] attract investment," said Dr. Joann Massey, EDGE Vice President of Operations.
Renovation plans for the 100 North Main building include a hotel, apartments, business offices, parking garage and return of the legendary spinning restaurant at the top.
The completion date is scheduled for the fall of 2027.