MEMPHIS, TN -
(WMC-TV) - Plans are underway to turn what is now a vacant building downtown into apartments just for those "artistically inclined."
It is already an artsy area, but now a Minneapolis-based nonprofit wants to take a vacant building on South Main Street and turn it into apartments, or in this case, lofts where artists can live and work for a price suitable for a "starving artist".
"It's in the old United Warehouse blighted building that is behind the Arcade Restaurant that people don't even notice because it's empty and blighted," said Paul Morris, Downtown Memphis Commission president.
Morris says the building meets several goals, including reusing an existing building and bringing more residents downtown. For taxpayers, he says it is also a great deal. It will be a $13 million investment into city, partially using low income and historic tax credits for funding.
Not just anyone will be able to live in the apartments, though.
Residents must be artists and go through a screening process to prove it.
Along with converting the old United building, a new building will also be built to create a total of 44 lofts, a gallery and educational space, a performance plaza, and a garden area.
For now, Morris and other downtown advocates will have to wait and cross their fingers to see if the project is approved for the tax credits.
The nonprofit will get word on funding in June or July. If approved, the project would be compete around April 2015.
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