Downtown Memphis, Tennessee Real Estate
Downtown Memphis, Tennessee Real Estate
Memphis is one of the country’s most-beloved cities for its rich history, culture, and tradition. It is the largest city in Tennessee, with a population of approximately 650,000, and the third largest in the Southeast.
Like other major U.S. cities, Memphis boasts a plethora of neighborhoods as diverse as its history. Downtown Memphis is known for its lively spirit and the best views of the mighty Mississippi River.
Native Americans were the first inhabitants to live along the wooded bluffs of the Mississippi. The first Europeans were Spanish explorers who crossed the river in 1541. After the French and Indian War in 1763, England gained control of the bluffs. The land legally belonged to the Chickasaw Indians who relinquished their territory in 1818. General and President Andrew Jackson, General James Winchester, and Judge John Overton are considered the “founding fathers” of Memphis, which was designed in 1819, and became a critical locale for travel, market exchange and distribution of goods. Memphis emerged as the capital of the “Mid-South” and home to the world’s largest cotton market. The city gained notoriety with the reign of “Boss Crump” and later became famous as Elvis Presley’s hometown. Memphis also became a central site of the civil rights struggle when Martin Luther King Jr. was assassinated on the balcony of the Lorraine motel. Memphis is now home to the National Civil Rights Museum at the Lorraine Motel.
Shopping and Dining
Like New Orleans’ Bourbon Street, New York City’s Time Square, and San Francisco’s Fisherman’s Wharf, Downtown Memphis’ Beale Street brings visitors from all over the world and locals savor the great shopping, dining, and of course, Memphis Blues. There are pocket neighborhoods throughout Downtown that have boutiques, galleries, local cuisine, and more. In the fall and summer, the Memphis Farmers Market sells fresh produce in the Central Station Pavilion.
Parks and Recreation
With 300 acres of parks and pedestrian walkways in Downtown and along the river, Downtown affords locals the best of urban living, including biking, walking, and running along River Walk, Tom Lee Park, and Mud Island River Park, and kayaking and touring on the river. Other areas of interest include Mississippi River Museum, Bickford Aquatic Facility, Nathan Bedford Forrest Park, Harbor Town Marina, and WC Handy Performing Arts Park, to name just a few. There are festivals throughout the year, including Memphis in May, Beale Street Music Festival, and South Main Trolley Night. The National Civil Rights Museum and Graceland bring visitors from around the world. Located in the heart of Downtown Memphis is AutoZone Park, one of the finest ballparks ever built below the major league level and is home to the Memphis Redbirds. The FedEx Forum is home to the Memphis Grizzlies NBA basketball team as well as the University of Memphis Tigers basketball team. Other events held at the FedEx Forum include concerts like The Rolling Stones, Sugarland, Destiny’s Child, Rascal Flatts, and Elton John along with major boxing events, the Rockettes, the circus, ice skating shows, and much more!
Downtown Memphis real estate is very diverse and eclectic. Buyers enjoy a range of homes, condos, and apartments. The occupancy rate for apartments is 90%, and there are close to 5000 new condos and single-family homes for sale, with a range in prices and amenities. The once industrial South Main Historic District (which hosts “Trolley Night”) has several renovated residential projects, including loft-style homes for sale. The Warehouse District is an up-and-coming neighborhood with upscale condos. South Bluff Neighborhood is a master-planned community close to historic Main Street, with single-family homes and apartments. Other neighborhoods that include mixed-income residents and affordable real estate include The South End, Uptown, and Pinch District. Downtown Core is home to Court Square, known as “the living room” of Downtown, and includes real estate in renovated historic buildings. Dense, mixed-use areas with renovated historic buildings and diverse real estate include Court Square Center, Madison-Monroe, Medical Center, AutoZone Park, Cotton Row, and Gayoso-Peabody. Once known as Millionaires’ row, Victorian Village is a two-block historic district with Victorian homes dating back to the mid-19th century. The Edge is considered an artist’s community. Mud Island is a peninsula which has grown from the 1990s into a close-knit community of more than 5,000 residents. Award-winning Harbor Town on Mud Island is a popular microcosm of 500 houses on Mud Island with its own private school, shopping district, and town greens.
Schools, Health, Transportation
Students attend Memphis City Schools for primary and secondary education. Parents have a large number of private schools from which to select, including Harding Academy, Hutchison School for girls, Christian Brothers High School for boys, St. Agnes Academy, Holy Rosary School, St. Mary’s Episcopal School, Lausanne Collegiate School, Presbyterian Day School, and Memphis University School to name some of the best known. There are several colleges and universities in the area, including The University of Memphis, Rhodes College, Christian Brothers University, Southwest Tennessee Community College, Baptist College, and Remington College.
Memphis Area Transit Authority (MATA), Memphis International Airport, and Interstates 40, 55, and 240 offer public transit.