7/28/2014: Latest news suggest that a contract has been signed with a buyer for the Tennessee Brewery, saving the historic structure from the wrecking ball, according to a representative of the brewery’s ownership.
See the Latest news on this story here: http://www.memphisdailynews.com/news/2014/jul/26/contract-signed-to-purchase-tennessee-brewery/
ALSO, BY BIANCA PHILLIPS ON WED, JUL 23, 2014 AT 3:52 PM / Memphis Flyer
The historic Tennessee Brewery building, which housed the “Untapped” beer garden for six weeks this past spring, may be demolished on August 1st. Or maybe it won’t.
James Rasberry, the building’s listing agent, said he is currently working on a couple of contracts with potential buyers for the building, but he does not have an executed contract. If either of those contracts moves forward with a viable candidate for a future owner, Rasberry said they’d be able to get a two- or three month extension on the demolition, which has long been planned for early August.
“The only goal is to try and save the building, but if we can’t, we’ve given it a great shot. That’s where we are right now,” Rasberry said.
Read the full article at the Memphis Flyer: http://www.memphisflyer.com/NewsBlog/archives/2014/07/23/demolition-still-set-for-tennessee-brewery
June West of Memphis Heritage has commented:
[quote]One problem in this scenario is that a very good offer was turned down via Rasberry. The group making this offer has the capacity and a proven track record. This offer was significantly above the recently appraised value. Rasberry has apparently convinced the owners that the raw “subdivided” land is worth more without the historic landmark. This offer was rescinded 2 weeks ago. Let’s hope negotiations can continue and no one rushes the unnecessary demolition of this valuable piece of Memphis architecture and history.[/quote]