MEMPHIS, Tenn.-- There are big plans on Broad Avenue.
A massive, mixed-use housing project is in the works.
The area already known for eclectic shops and restaurants could soon be seeing even more traffic.
Broad Avenue is known as the arts district. It hosts unique restaurants and a wealth of local shops.
The colorful water tower welcoming visitors but now there is hope people will also live right at the base of the tower.
"Developing this community mostly with multi-family apartment units and about 10,000 or so square feet of retail," said James Maclin with 3D Realty.
Maclin is working on the project with Bob Loeb of Loeb Properties. Currently in the spot of the proposed 400 plus units are warehouses.
Maclin believes the project not only benefits the Binghampton area but Memphis as a whole, aligning with Memphis 3.0.
"Get more density into the city and that helps and makes the city more efficient, brings more activity and things that people want to have in their neighborhoods," he said.
Just across the street from the proposed development sits Bingham and Broad. A shop boasting a wide range of jewelry, gifts and home goods.
"It will bring a lot of foot traffic and we’re excited about it and we support the project," said Tricee Fuson, one of the Bingham and Broad's owners.
Fuson says it will be good for the street to have people actually living in the district.
She also says it’s important for the business owners who have worked hard to grow Broad Avenue over the last decade to have some input.
"We’re cautiously optimistic and we are just hopeful that the developers will keep in mind the integrity of the businesses that have been built on the south side of the street and also will implement good urban design.”
According to the development’s website, they hope to break ground in the fall