Legacy Power Capital Plans Innovation District at Former The Walk Site in Downtown Memphis
Legacy Power Capital has unveiled plans for an innovation district at the former The Walk site in downtown Memphis, featuring an 800-room hotel, 700 residential units, and a 125,000-square-foot cloud service data center known as the 'Neural Nexus.' The first phase, focusing on the data center, is estimated to cost $400 million and take up to 30 months to complete, while the entire project is projected to reach $9.4 billion. This development aims to support local institutions with advanced AI computing capabilities.
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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.
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