Memphis Business Journal - by Andy Ashby

The Shelby Farms Greenline will make it easier to get from Midtown Memphis to Cordova on a bike, but the real impact could be on property values.

Greater Memphis Greenline Inc., a nonprofit leading the charge for the 13-mile trail, is touting its economic advantage to property owners and business groups.

Shelby County funded the $7 million land purchase from CSX Corp. using a variety of private money, foundation grants and government grants. It is negotiating to buy land from CSX for the second phase, which will extend to Cordova. All property is part of an abandoned railroad line.

Greater Memphis Greenline president Bob Schreiber and Shelby County land bank manager Bill Goss calculated the entire 13-mile greenline could add $155 million in property value to a half-mile strip along its length.

aashby@bizjournals.com | (901) 259-1732