Exciting News for Downtown Memphis: Aldi Grocery Store on the Horizon

Downtown Memphis is buzzing with excitement as plans for a new Aldi grocery store are moving forward. On July 23, a commercial alteration permit was filed for the location at 785 Union Ave, signaling that this beloved grocery chain may be setting down roots in the downtown area soon.

The permit, filed by Kayo Takumyo of SGA Design Group, details an impressive 27,800-square-foot space for the new Aldi, with an estimated construction cost of $1.75 million. This location would mark the sixth Aldi store in the Memphis area and its first in the heart of downtown, giving residents access to affordable grocery options within walking distance.

Interestingly, this isn’t the first step towards Aldi in this area. Back in May, the SGA Design Group, which has played a significant role in designing over 300 Aldi locations across the country since 2016, filed for a zoning permit to evaluate the feasibility of a grocery store at the Union Avenue site. Fast forward to August 8, and the permit was successfully processed, bringing this grocery vision closer to reality.

The 785 Union Ave property is currently owned by Hunington Properties, a real estate firm based in Houston that purchased the 2.45-acre site for $4.5 million last December. Initially, there were plans to develop a new multifamily complex named The Vic on Union, but it seems those plans have taken a backseat as attention shifts toward bringing an Aldi store to this prime location.

In fact, the development of The Vic on Union was slightly complicated, as it received a twelve-year payment-in-lieu-of-taxes (PILOT) incentive from the Center City Revenue Finance Corp. and the Downtown Memphis Commission (DMC). However, as of January of this year, while representatives continued to support the multifamily project, it became unclear whether it would move forward, considering the current discussions around the Aldi location.

Furthermore, during a recent July 2022 meeting, the Memphis and Shelby County Board of Adjustment had already granted a variance to allow for multifamily and mixed-use development on the Union Avenue property, giving a nod to its potential for diverse types of utilization. However, it appears that plans for Aldi could possibly replace the earlier multifamily intentions.

Huntington Properties has affirmed that while the property ownership remains unchanged, the future direction of development, including Aldi, has prompted a shift that has not been fully detailed yet. Additionally, Memphis-based Jones Aur is currently overseeing leasing for the Union Avenue site, but efforts to get comments regarding Aldi’s potential lease commitment were not fruitful.

This proposed Aldi store is coming at a pivotal time for Downtown Memphis. The area has seen a resurgence of interest and growth, with various developments sprouting up, and an affordable grocery option could enhance the urban living experience for many residents. Not only will this mean convenience for those living and working nearby, but it will also add to the overall vibrancy of the downtown shopping scene.

Although Aldi has not commented publicly on the project, it’s clear that the momentum for this grocery store is building. The discussion around downtown grocery options has become quite a hot topic, as many residents have expressed the desire for accessible shopping choices without needing to trek far from home.

As the plans continue to develop, many members of the community are eagerly awaiting news and updates. The introduction of a new grocery store could lead to increased foot traffic in the area, as people come not just for the groceries but also for the potential to explore other shops and businesses nearby.

In summary, while there is still much to be finalized, the arrival of Aldi in Downtown Memphis seems poised to become a reality. Grocery shopping might soon become more convenient for thousands of people who love living or working in the dynamic heart of the city. With construction hopefuls on the horizon and the area’s revitalization efforts in full swing, this could be a win-win for both the residents and the local businesses looking to thrive in Memphis.