Demolition of Overton Square on Hold

MEMPHIS, Tenn. - Hoping to hold on to a piece of Memphis' history, or as much as can be saved, a couple dozen people sat in and looked in on a conference call at City Hall Wednesday.

"Our first preference is to save the buildings. Beyond that we're just venturing into the unknown," said Councilman, Shea Flinn.

With a demolition application from Overton Square's owners pending before City Council, Flinn asked for input from various neighborhood and advocacy groups.

"I just think it would be a vital mistake to issue a demolition permit and let you demolish those buildings without your at least making an effort to show us what's going to go in their place," said John Vergos, co-owner of Rendezvous.

During the call, owner's Univest/Fisher Capital tried getting the city's Office of Planning and Development to commit to a side...for or against demolition.

"We have a process in this community. It's written in our ordinance. We go step by step. We don't make recommendations until we go through all those steps and everyone has had a chance to be involved," Mary Baker said.

Univest/Fisher Capital says it needs an answer fast because Sooner Investment won't be ready to act on its proposed development for another year so, there's building maintenance to consider.

"I don't want to get into a position where the buildings have to get shuttered if that's not what really needs to happen here," said Tom Lowe.

The entertaining offer from Sooner Investment involves overhauling Overton Square and building a new grocery store and other mixed-use buildings. The owners say it's the only option after a lack of interest on a local, regional or national level to lease the space as is.

Univest/Fisher Capital has agreed to hold it's application for demolition for 60 days while a special community group with interest in the outcome of the project explores workable options.