What's that moving into the historic Exchange Building in Downtown Memphis?
There's no shortage of scaffolding and new construction sites along Madison Avenue these days. One of those storefront sites is about to be a new convenience store.
Dream Magic Daily Market is coming to the first floor of the Exchange Building at 130 Madison Ave. in Downtown Memphis. The new convenience store will include a café and deli space. The new 2,842-square-foot market and café space will replace a retail tenant area that is currently being used for storage.
On May 15, the Center City Development Corp., an affiliate board of the Downtown Memphis Commission approved a $30,000 retail improvement grant for the development. Filmmaker Miroslav Mitic is opening Dream Market.
During the May 15 meeting, Mitic said he came to Memphis to work on a new film and fell in love with the city. He said he had been staying at the Exchange Building and saw an opportunity to provide a new resource for Downtown residents.
The approved retail grant will be used primarily for interior improvements including drywall and flooring. The total cost for buildout of the new store will be $157,000, according to the DMC staff report. Additionally, Dream Magic Daily Market has signed a three-year lease for the property. No details on a timeline for the market's opening were provided.
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The renderings for the market include a seating area adjacent to the deli and café area for customers. Patrons will be able to enter through two locations: one along Madison Avenue and the other through the main lobby of the Exchange Building.
The 19-story Exchange Building dates back to 1910 and was renovated into apartments in the mid-'90s.
Neil Strebig is a journalist with The Commercial Appeal. He can be reached at [email protected], 901-426-0679 or via X/Twitter, @neilStrebig.
This article originally appeared on Memphis Commercial Appeal: Downtown Memphis to welcome new convenience store with café and deli
