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Greater Memphis Greenline Inc. officials are working to show commercial real estate professionals that a pedestrian-friendly path running through Memphis is good for the city and for business.
Bob Schreiber, president of the nonprofit organization, and Syd Lerner, executive director, gave a presentation at the quarterly meeting of Commercial Real Estate Women’s Memphis chapter, explaining the greenline project and its benefits.
Schreiber said the seven-mile paved path would extend from Tillman Road to just north of Shelby Farms. It’s scheduled for completion in September.
Schreiber said that research done in cities with greenlines showed reduced crime along these paths, mostly through pedestrian traffic.
“The more eyes there are in the open, the more crime is reduced,” he said.
He also said property values have been shown to rise within a half mile on either side of these types of trails, as they are seen as recreational opportunities for biking and walking.
Shelby County purchased the seven-mile stretch of land — a former railroad line — for $7 million from CSX Corp., using a variety of private money, foundation grants and government grants.
Once completed, the greenline could get amenities like seating, additional signage and parking areas.
Greater Memphis Greenline is currently working on a grant which could help fund the next section of this greenline, which would extend to Cordova for a total of 13 miles.
It also is working on developing a greenline along the Union Pacific rail line near Chelsea in North Memphis.
Lerner said that although Memphis is late in the game when it comes to greenlines, this actually helps because there is plenty of data showing the benefits.
Carol Slone, president of the CREW’s Memphis chapter and a vice president at First American Title Insurance Co., said a greenline could help attract businesses and tenants because it could be seen as an amenity.
“I think the greenline will help business growth,” she said.
