Return to Inspiration Landing

Memphis developer John Elkington has been back in the area with an update on his Inspiration Landing project. Specifically, he's mentioned several businesses which have offered letters of intent to build in the commercial project. That is, or course, assuming there is a project. The TimesDaily article failed to mention any investors. Yes, you know, those elusive money men who back such things. Has Mr. Elkington managed to acquire any of them? 

As for delays resulting from lack of government approvals, that we can easily believe. A waterfront project is extremely different from revitalizing Beale Street. Perhaps Elkington had not initially taken that into consideration when he offered his timeline of having the amphitheatre ready by spring? The word is now that construction on the amphitheatre will start by the end of the year. That's eight months to get the government ducks in a row. 

The TD article also mentioned just how much money Elkington had personally spent on the project. We're sure that Mr. Elkington has spent some money on various preliminaries, but as to how much... No, we have no idea what Elkington has invested, but we do know that most of it would seem to have been at the beginning of the project. Beginning, as in before he realized just how hard it would be to find outside funding. 

*****

*****

Now a word from a Sheffield resident (caution - strong language):

Inspiration Landing was supposed to OPEN next week. Now, Elkington is confident he’ll break ground some time this year. A brewery and a chapel????? Which “well-known ministers “ are they going to bring in? The Church of the Highland pastors who are bringing in sex offenders? And thank God that Sheffield Utilities is going to “benefit” from the brewery. Forget the RESIDENTS of Sheffield who have recently had to choose between buying groceries and medicine or paying their ungodly high utility bills. As long as Steve Hargrove and Sheffield Utilities are rolling in cash, to hell with the rest of us. Hargrove is a deacon at York Terrace Baptist Church. Does his anti-alcohol congregation and pastor approve of his benefiting from a brewery? Russ Corey also failed to mention the 3 species of bats and 10 species of clams which are on the Endangered Species list and would be negatively impacted by this project. But hey, the truth has never mattered-not with these folks. Sheffield residents-WAKE UP!

*****

Finally, is a letter of intent binding? We did some quick research thinking the answer would be no. Apparently it depends. So, can Elkington make the Hilton and the five restaurants build in Sheffield simply based on a signed letter of intent? We're guessing not if the project isn't built in a timely manner or every facility promised doesn't materialize. 

This little deal may require a lot of popcorn. So stock up.