RKG's Long-term relationship with the City of Memphis, TN
In 2005, RKG began working with the City of Memphis to develop a reuse strategy for the Pyramid, an iconic but long underutilized sports arena, located on the edge of the downtown, along the banks of the Mississippi River. Since that time, RKG has provided the City with analysis and advice on the fiscal and economic impacts of a variety of development strategies. These efforts have culminated in the planned 2013 opening of Bass Pro as a destination flagship property, including an on-site hotel, which will fully utilize the Pyramid property. RKG’s relationship with the City expanded in 2007 when we were charged with preparing multiple fiscal and economic impact analyses for repositioning the 170 acre Mid-South Fairgrounds, location of the AutoZone Liberty Bowl. Residential, retail and other mixed-use projects have been considered over the years for this area and the City is currently pushing forward with plans for an expanded public/private sports complex and urban village. RKG continues to work with Memphis in providing financing and economic expertise for the City, including: redevelopment of the downtown and the riverfront; mixed-income housing projects; and the economic revitalization of distressed neighborhoods. RKG’s work with the City of Memphis also led to a relationship with Elvis Presley Enterprises, providing them and the City with estimates of incremental property tax (TIF) and sales tax (TDZ) revenues that could be utilized in repositioning Graceland and the Elvis Presley Boulevard corridor – a major tourism and economic engine for the City. As the King might say, in Memphis, RKG is TCB.