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On December 10, the Greater Memphis Chamber announced plans for an innovation district at the former The Walk site, now owned by Houston-based Legacy Power Capital. The proposed development includes an 800-room hotel, 700 residential units, 200,000 square feet of retail space, and a 125,000-square-foot cloud service data center, referred to as a 'Neural Nexus.'

The first phase, focusing on the data center, has an estimated cost of $400 million and a construction timeline of up to 30 months. The overall project is projected to cost $9.4 billion. The data center will support local institutions like the University of Memphis and the University of Tennessee Health Science Center, offering AI-level computing capabilities. The site spans 29 acres along Union Avenue, previously held by Big River Development, which missed financing deadlines for its own mixed-use project.