Once an eyesore in the Memphis skyline, the historic Sears Crosstown building is on its way to a complete revival.
An $80.5 million loan from SunTrust Bank combined with funding from 21 public, private and philanthropic sources and more than $200 million has been secured for project financing.
A groundbreaking party and community rally is planned for Feb. 21 from 11 a.m. to 2 p.m. to kickstart the rebrand of the once abandoned building. That date is exactly 88 years after the original groundbreaking in 1927.
Food, music, a display of artist's renderings and the grand name reveal of the development are all part of the planned festivities. Local artists will also melt down the old radiators from the building as part of an iron pour to make commemorative tiles.
Source: Published: Memphis Business Journal