VOL. 132 | NO. 156 | Tuesday, August 8, 2017

Development Services Group’s $73 million plan to breathe new life into a 10-acre swath of the Memphis Medical District has taken its first public step toward becoming a reality.

On Tuesday, Aug. 8, the Center City Revenue Finance Corp. approved the developer’s request for a 20-year tax incentive to help offset construction costs for the ambitious project.

Known as the Bakery Development for the project’s centerpiece – the former Wonder Bread factory located at 400 Monroe Ave. – the mixed-use development will include 286 upscale multifamily units, a 480-space parking garage and 150,000 square feet of office and retail space spread out across five parcels.

Of the 150,000 square feet of commercial space, 75,000 will become the home of a yet-to-be-named financial services firm that will relocate its corporate headquarters to the Bluff City.

DSG still has to acquire additional approvals for the parking garage from the Downtown Parking Authority, the city of Memphis, and Shelby County government. If the needed approvals are granted, the developers plan to break ground this fall.