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Aldi may be one step closer to arriving in downtown Memphis.
On July 23, Kayo Takumyo of SGA Design Group filed a permit with the Memphis and Shelby County Planning and Development Department for the commercial conversion of a 25,000-square-foot Aldi at 785 Union Ave.
The estimated construction cost for the proposed Aldi is $1.75 million, according to the building application. In May, Oklahoma-based SGA Design Group filed a building permit for the Union Avenue property to explore the possibility of an Aldi grocery store at the site.
According to the company’s website, SGA Design Group has helped design more than 300 Aldi stores since 2016. The planned Aldi grocery store would be the sixth location in Memphis and the first in downtown.
Aldi did not immediately respond to requests for comment on Monday.
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The property at 785 Union Ave. is owned by Houston-based real estate company Hunington Properties. The company purchased the 2.45-acre property in December 2022 for $4.5 million, according to the Shelby County Registry of Deeds.
Hunington Properties planned to build the 243-unit Vic on Union multifamily complex on the former Office Depot site. In October 2022, the Center City Revenue Finance Corp., an affiliate of the Downtown Memphis Commission (DMC), approved a 12-year payment in lieu of taxes (PILOT) incentive for the $46.44 million project. In July 2022, the Memphis and Shelby County Board of Adjustment approved an exemption to allow multifamily and mixed-use development at the Union Avenue site. In January, the Center City Revenue Finance Corp. approved a 12-month extension for completion of the PILOT incentive.
During the January meeting, Hunington Properties representatives still supported the multifamily project, but the Vic on Union project is no longer listed on the company’s website.
In May, Hunington Properties officials said ownership of the property will not be transferred. However, the company could not provide further details on whether Aldi could replace the Vic on Union project. At the time of this article’s publication, the DMC could not provide further details on the PILOT.
Memphis-based real estate firm Jones Aur is handling leasing of the property at 785 Union Ave. Representatives of Jones Aur could not be reached for comment on a possible lease commitment from Aldi for the property.
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Neil Strebig is a journalist at The Commercial Appeal. He can be reached at [email protected]901-426-0679 or via X/Twitter: @neilStrebig
