Will Highland be the next Overton Square?

The Highland Strip is being revitalized, and the company behind the project was also responsible for the restoration of Overton Square.

Loeb Properties Inc. owns a number of buildings on Highland from 569 to 535 S. Highland Street, excluding a vacant lot at 559 S. Highland St.

The plan for the properties is to construct an easily accessible entertainment district for students, which would allow them to hang out and have a good time without commuting far from campus.

“There are so many amazing things happening in the University District right now,†said Aaron Petree, vice president of brokerage at Loeb Properties. “We feel the University of Memphis deserves to have a vibrant destination or ‘strip’ to call its own for retail, restaurant and entertainment.â€

Loeb Properties will complete renovations of the buildings, add an iconic new rooftop sign to give the property more character and create a large new parking lot behind the buildings.

The parking lot will provide more than 90 new spaces and will also provide an area for concerts and festivals.

Although Loeb Properties was behind the recent comeback of Overton Square, they are not trying to recreate Overton Square at the Highland Strip.

 

“Highland Strip will have its own identity and niche,†Petree

said.

 

Loeb Properties is seeking retail, entertainment and restaurant

businesses that will target both students and non-students

for renovated spaces ranging from 1,100 square feet to 6,000 square

feet.

 

“It will likely be restaurant centric, with patios up on the front sidewalk,†Petree said. “But there will also be a mix of retail and services that will appeal to the University and surrounding neighborhoods.â€

In addition to leasing spaces to businesses that will appeal to students, programming will also be a big part of the Highland Strip’s operation.

Loeb will have an active presence online through Highland Strip’s website and social media where they will promote concerts, festivals and game day tailgating.

Many improvements on the strip are noticeable, including the parking lot being near completion, paint on the exterior storefronts and a renovated Newby’s that opened Jan. 26.

While making parking more available is important, Loeb would like to see the city of Memphis step up to make pedestrian-friendly improvements to Highland Avenue.

“Like a lot of current and former students, I know it’s not fun to play ‘Frogger’ while crossing Highland Avenue from the University side of the street,†Petree said. “Since the city controls the street, they need to be involved in those sorts of improvements.â€

The strip that Loeb Properties owns on Highland already houses

smoking accessory shops, Whatever and Vaporwize. The Highland Strip is right next to many popular restaurants including Brother Junipers, Café Eclectic, Wang’s Mandarin House and Moe’s.

“The Highland Strip is not new, just as Overton Square was not new,†Petree said. “It just needs someone who’s willing to invest the time, effort and money into making it all it can be."