(Carl Cronan is editor of RealEstate Florida.)

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MIAMI-Locally based WSG Development Co. has received localapproval for a 28-acre mixed-use development in Memphis, TN that isslated to start construction next spring. The proposed project willinclude two retail anchors plus restaurants and a residentialcomponent.

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GlobeSt.com previously reportedthat the project, called Midtown Memphis, is expected to costbetween $160 million and $180 million, with groundbreakinganticipated before the end of this year. Conceptual plans include600,000 sf of retail, at least 50,000 sf of class A office spaceand 200 apartments and townhomes, all in a pedestrian-friendlylifestyle center setting.

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WSG Development says it has been working over the past fouryears to acquire the land for Midtown Memphis, which will take upsix city blocks along Poplar Avenue. A total of 150 separateparcels were involved in assembling the site.

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The company's local entity, WSG Memphis LLC, pledges to workwith Memphis and Shelby County officials in developing theproperty. Robert Lipscomb, City of Memphis CFO, says the project"is integral to the revitalization of this area and an excitingaddition to the Memphis landscape."

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The Midtown Memphis project will be in proximity to the city'smedical district as well as several historic neighborhoods. Aspokeswoman for WSG Development says a number of national chainshave expressed an interest, though she declined to disclose anyother details.

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WSG Development was founded in 1995 by Eric Sheppard and PhilipWolman and specializes in acquisition, development and constructionof commercial and residential real estate in 15 states from Floridato Colorado. The firm has developed more than 60 projects with afocus on underperforming locations.

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