CBU wants mixed-use concept at Fairgrounds - Memphis Business Journal:

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"We have collectively decided that we are goingh to invest heavily to make revisions to upgrade our existing Liberty BowlMemoriak Stadium," Herenton told members during his "We want to create a gateway into this remodeleds stadium that you can be proud of." But whil e the University of Memphis may make use of the propertyg on Saturdays during football season, no other institutiom may be more connected to the property's future than .
Located directl y across the street fromthe Fairgrounds, CBU and its leadera have listened and participated in planning for the even hosting a campus forum on the And while CBU officials have no plans for using the Libertyg Bowl for athletic events, they do have high hopesx that redevelopment of the area would benefit their "We specifically would like to have amenities that would be of interest and benefit to our faculty and staff who live and work in this neighborhood," says Bro. Vincent Malham, CBU president. "CBU would like to have a mixed-use developmentf such as the Cooper-Young area.
This mixed-usew development would include retail, residential, and an abundanc of open green areas." Along with open areas, Malhajm says the university would also like to see day exercise facilities and a Memphis PoliceDepartmenrt substation, much like the station located on the U of M's campus. City leaders are considering two proposalse for redevelopment ofthe area, one of which was submitted by local developer Henry Turley and his team of developers say their plan for the Fairgroundx includes recreational and educational uses as well as retaio and commercial developments.
But whether Turley'a plan will get the nod has not yet been as city leaders are set to choose between the local group andan out-of-town group led by Chicago-based financial services firm Drapedr and Kramer by April 18.The Draper and Kramerr plan called for the company to work closelyh with Memphis leaders to develop the but did not list any specific ideas for the propertt citing that it was premature to speculate. The develope r chosen should use the resource that is CBU as afocap point, says John Gnuschke, director of the at the U of M. "Educationalk institutions encourage the growth and stabilityof neighborhoods, much like anchort stores do for shopping he says.
"The short-run impact of educationak institutions on economic development is alwaysa positive because new schools attract residents to an area or help stabilize existing neighborhoods. "New economic activity is generatede because of the population growththat follows, the qualithy of life improvements that are generated and becaused of the expansion of the area's economiv base," Gnuschke says. And just like any good business that developers look tobuild around, CBU is In the last five CBU has invested millions in renovations and in expansion projects, Malham says.
In April 2007, CBU began renovatingt the Sabbatini Lounge in theStudent Center, De LaSallew Hall and the University Renovations to the university's residence halls have also been recentluy completed. In May 2007, the university broke ground on thenew Cooper-Wilsomn Center for Life Sciences. The $14.2 million, three-story building will providse approximately 32,500 square feet for students. "The additionapl space will providemore lab, classroom and student Malham says. Further expansion plans at CBU includre a new residence hall designed specifically for incomint freshmen and a new campus life centeer to serve the entirdstudent population, Malham says.
Those improvements and expansions should bring even more studentse and facultyto CBU's campus, a fact that Dale dean of CBU's school of says developers should take into account when redeveloping the