Construction has started on the new Ballet Memphis headquarters at Overton Square in Midtown. (By Thomas Bailey)

By Thomas Bailey Jr. of The Commercial Appeal

Heavy equipment rumbled Monday morning at the northeast corner of Madison and Cooper at Overton Square, where Ballet Memphis has started building its new Midtown headquarters.

The nonprofit organization applied for a permit Friday that values the work at $12.6 million, although total costs including the purchase and demolition of the old French Quarter Inn is $20.6 million.

The 38,000-square-foot building will house five studios, offices, costume shop and community space. The new headquarters is scheduled to open next year.