Cates withdraws plans for Mud Island redevelopment
BRANSON MISSOURI NEWS: By Ryan Poe of The Commercial Appeal
Updated: Yesterday 7:08 p.m.
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Memphis developer Andy Cates on Thursday notified the Riverfront Development Corp. he was withdrawing a $10 million-plus redevelopment proposal for the south end of Mud Island.
RDC President Benny Lendermon confirmed Thursday that Cates sent a one-line email earlier in the day withdrawing his latest proposal calling for a redeveloped amphitheater, riverside amenities, a water park, and high-end cottages and climate-controlled tents that could be rented.
Lendermon said Cates didn’t specify why he was pulling his proposal, which was one of two under consideration. Cates didn’t immediately return a call seeking comment.
Cates is dropping the proposal as the city awaits state approval to tap funds captured by a Downtown tourism development zone (TDZ) for primary developments — possibly of Mud Island River Park and the Memphis Cook Convention Center. Currently, the city can only use those funds for improvements to public infrastructure like streets.
If the state Building Commission approves the city’s petition, which is currently under legal review, a host of new development opportunities could open up, resulting in the city and RDC resetting the Mud Island revamp discussion, Lendermon said.
“It may be a whole new ballgame …
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