Raymond James takes another step from Downtown toward E. Memphis

By Tom Bailey – Daily Memphian

July 9, 2020

Raymond James and Associates this week took another step in its plan to move its Memphis offices from Downtown to East Memphis, filing for a building permit that estimates renovation costs will total $13.6 million.

The financial services company submitted an application for permits to carry out interior renovations to 1100 Ridgeway Loop ($7.25 million in construction) and 889 Ridge Lake ($6.33 million.)

Grinder Taber & Grinder will do the construction that has been designed by LRK Architects.

Last year, the Florida-based company announced it planned to vacate the 21-story Raymond James Tower at 50 Front St. and move 13 miles east to Boyle Investment Company’s Ridgeway Center office park at the northeast quadrant of I-240 and Poplar.

The company made its decision during a long-running dispute with its Downtown landlord over the then-condition of the tower, especially the elevators that are now being replaced.

Raymond James sought and received an eight-year property tax break that will save the company $3.2 million.

 In return, the company committed to staying in Memphis, adding 100 jobs to the 863 it already has on its Memphis payroll, and investing $23.6 million with the suburban move.