Sterick’s garage set for face-lift; three restaurants land loans

By Sophia Surret – Daily Memphian

December 14, 2023

The Sterick Building will gain access to the adjacent parking garage at 22 N. B.B. King Blvd. following its refurbishment by the Economic Development Growth Engine for Memphis & Shelby County (EDGE).

The EDGE board approved plans on Dec. 13 to purchase and refurbish the original Sterick Building parking garage. EDGE is purchasing the garage and HVAC unit from the owner of Hotel Indigo for $4.2 million. The updates will include 350 parking spaces and grade-level service areas.

After refurbishment, EDGE will lease the garage for five years to Constellation Properties LLC, which purchased the Sterick Building in March and is led by developer Stuart Harris. Harris noted that the hotel does not require all 350 parking spaces, while the Sterick Building has a significant need for parking.

The contractor for the project is Grinder, Taber, & Grinder Inc. The refurbishment is expected to take three to four months. Once complete, the garage will be used by construction and other workers during the remainder of the Sterick Building redevelopment.