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201 Poplar Renovation Progressing, but Completion Will Take Years PRINT EDITION JUST $99 PER YEAR Covering local news, politics, and more Covering Memphis Since 1886 Channel 10 Friday nights at 7 MEMPHISDAILYNEWS.COM Tuesday, August 6, 2019 MemphisDailyNews.com Vol. 134 | No. 124 Rack–50¢/Delivery–39¢ Mutual fund helping drive growth for Preserver Partners CHRISTIN YATES arrived July 28. In 2016, Preserver launched The mutual fund is now the local institutions. Courtesy of The Daily Memphian “I attribute our growth to early its first mutual fund, Preserver firm’s largest and has more than Both Memphis Light, Gas and From its humble beginnings institutions giving us an opportu- Alternative Opportunities Fund $21 million in assets with approxi- Water Division and the Memphis in 2009 with just one investor and nity, as well as offering a mutual (PAOIX), with a minimum initial mately 400 investors. Area Transit Authority partnered $1 million, Preserver Partners has fund, which opens the door for investment of just $2,000, to pro- Pointer and Floyd Tyler, presi- with Preserver in 2011 to help grown to nearly $150 million in smaller investors,” Dana Pointer, vide a vehicle for more people to dent and chief investment officer manage various assets. For MATA, assets under management and chief operating officer and chief have an opportunity to invest in of Preserver, also credit their suc- Preserver manages some of the or- nearly 500 investors on the heels compliance officer for Preserver, a diverse strategy through one cess to stability, resiliency and ganization’s retirement accounts. of its 10th anniversary, which said. investment. early partnerships with large, PRESERVER CONTINUED ON P2 Shelby County criminal and Memphis city courts; the criminal, general sessions and city court clerks; the Shelby County Sheriff’s Office; the district attor- 201 Poplar renovation progressing, ney general’s offices and the public defender. It’s about three times the size of the Vasco A. Smith Jr. County Administration Building, which but completion will take years was renovated several years ago. “The building has about 2,500 county employees and a customer base of between 10,000 and 15,000 who come into this building every day,” Norville said. And they must all be accommodated during the renovations, he said. “So the biggest challenge for us, and mostly the contractor, is managing the renova- tion and keeping it going while we’re maintaining the building at 100% occupancy,” Norville said. The 10-phase project will take about 10 years from start to finish, at a cost of $50 million to $60 million, Norville said. The contractor is Memphis- based Zellner Construction Services, which did projects including the FedExForum, the Memphis Zoo’s Northwest Passage and Beale Street Landing. Norville was named public works director in June, but as assistant director, he has been working on the renovation project from the beginning. The county surveyed the elected officials who work at the CJC to assess their needs. “We didn’t really ask everyone what they wanted. We asked everyone what they needed. And we told them we would do our best,” Norville said. Another objective has been to move workers as few times as possible. For example, when the Memphis Police Depart- ment left the building for its new location at 170 N. Main St., the empty 11th floor was remodeled for the district attorney’s office and was the first floor to be completed. The DA’s move about a month ago left the third floor empty. It is being readied for the criminal court clerk’s offices, now on the fourth floor. Electricians Nick Collins (from left), Javon Byars and Dary Hayes look over blueprints while wiring the third floor of the Criminal “The fourth floor will have four identical court- Justice Center on July 9, 2019. (Mark Weber/Courtesy of The Daily Memphian) rooms. And when we start doing the lower level, we will bring up four courtrooms to the fourth floor LINDA A. MOORE but glamorous now. the building into the 21st century. temporarily, renovate half of the floor, move these Courtesy of The Daily Memphian After decades of use, its systems are “It is the busiest building in Shelby guys back, bring the new ones up, renovate their Forty years after it opened, the Shel- antiquated and its décor outdated. County, said Cliff Norville, county public half of the floor and bring those guys back,” Norville by County Criminal Justice Center at A renovation project that began in works director. The CJC (or simply 201) is said. Then, those courtrooms will be used while the 201 Poplar Avenue – first nicknamed earnest in 2017 will redo the 12-story about 440,000 square feet and 12 stories “the Glamour Slammer” – is anything building from top to bottom, bringing high (with a basement), and is home to RENOVATION CONTINUED ON P3 INSIDE Columns ............................ 3 memphisdailynews.com chandlerreports.com Public Records ................ 4 ©2019 The Daily News Publishing Company A division of The Daily News Publishing Company Memphis, Tennessee The standard for premium real estate Established 1886 • 134th year information since 1968 Public Notices ............... 15 Call 901.523.1561 to subscribe Call 901.458.6419 for more information Page 2 MemphisDailyNews.com Tuesday, August 6, 2019 Couple from Memphis create app to help people find the best brunch and be given just three restaurants based on bar and restaurant serves brunch on Sun- their location. A restaurant listing includes days, but does not have a big brunch crowd, a photo, address, phone number, its location according to Boone. on a map, a rating with how many reviews In addition to word of mouth and social the rating is based on, as well as links to media, his restaurant drew visitors from both Yelp reviews and Open Table, where a those who saw “Hamilton” at The Orpheum visitor can make a reservation. The Brunch Theatre and bystanders watching the film- Hunch app is available for Apple and Google ing of “Bluff City Law.” devices Elisha and Chris Currie released the An app such as Brunch Hunch, then, app last summer after moving to Houston can help introduce customers to new spots from Memphis. They recently moved to and drive new customers to established Washington, D.C. “We moved to Houston businesses. and (brunch) was a huge craze out there,” Elisha spent the last trimester of her Elisha said. pregnancy on bed rest. That’s when she The idea stemmed from wanting to go thought about creating an app. Her back- out and have fun, and drinks, with friends, ground is in financial wealth management; but not necessarily at a nightclub or even at her husband Chris is in management infor- night. “After a while, you run out of places mation systems.“(Chris) kind of brought the to go,” she said. vision to life,” she said. So she wondered how to find different “I wanted to make it as simple as possi- Chris and Elisha Currie, a couple from Memphis, are the creators of The Brunch Hunch, an restaurants without having to ask for sug- ble. I wanted it to be easy to navigate.” Elisha app to help people find brunch in their area. gestions. In Memphis, Bar Ware opened on wants people who download the app to give South Front Street about two weeks ago. them feedback on things they would like ELLE PERRY Memphis, have created an app to help General manager Chris Boone said to see. In Apple’s store, a user has already Courtesy of The Daily Memphian people find brunch in their area. The app word of mouth used to be way people found suggested they add a “bottomless mimosa” A keyword search for “brunch” in the shows the top 50 restaurants in a person’s out about restaurants, but social media has filter. She also wants people to know that Memphis area on Yelp yields nine pages of location, based on a list of cities in the U.S. surpassed that because of the visual factor “brunch culture is here to stay.” results comprised of 275 eateries. If a person or abroad, or by using GPS. Restaurants versus just hearing about where to find a “Brunch is the perfect time to eat,” she is willing to drive across town for a good can be selected by price point (inexpen- great meal.“ said. “It’s becoming like a party, in a way. meal, how else does one sive, moderate, pricey or ultra high-end), or The person might say, ‘Damn that looks You can have music and bottomless mimo- Chris and Elisha Currie, a couple from people can choose the “Surprise Me” option good, I want to try that,’” Boone said. The sas and still be professional, too.” PRESERVER CONTINUED FROM P1 us more exposure. We’re happy to be a part of the growth in the Edge District and in Jeremiah McCarty, head of pensions at Downtown Memphis,” Pointer said. MATA, appreciates Preserver’s transpar- Tyler, a Memphis native, founded Pre- ency and how the firm chooses to invest server Partners in 2009 with $1 million. His and manage its capital. “We recently had vision was to create an alternative to the il- our monthly board meeting, and Preserver liquid hedge funds and fund-of-funds that was there explaining the market and their worked against many investors in 2008- performance,” McCarty said. “Saying you 2009. The firm, which employs five people, want to do something and doing something hopes to double its headcount in the next are two different things. I appreciate that few years. “We’re (Preserver) not looking about Preserver.” Preserver also has a new to be a huge shop, but we would like to add partnership with Pinnacle Bank.
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