Speaking to City Council members in Memphis, Bass Pro Shops said its deal to transform The Pyramid section of the city into a mixed-use facility that would include a large retail shop and a major conservation exhibit focusing on the Mississippi River is still on track.
“Hopefully, we can get this thing finished in the next 30 days or 60 days,” said Bass Pro Shops president Jim Hagale, according to The Commercial Appeal in Memphis. “The sooner the better as far as we are concerned.
“We've been going through this process for a very long time. There have been times along the way that we were pretty disappointed and disillusioned with our lack of ability to come to a conclusion on this.
“Recently I have felt more comfortable and confident. I feel that we can get this done.”
Hagale gave council members the update via a conference call
The real estate periodical noted that city official said an additional investment of nearly $20 million would be required to bring the building up to code and meet seismic requirements. The money would come from federal funds and grants
Robert Lipscomb, the city director of Housing and Community Development, told Commercial Appeal that he hopes to cement a deal with the Springfield, Mo.-based retailer in December or January.
In November, the City Council and Shelby County Commission gave Bass Pro 12 months to finish planning and gathering the necessary permits before signing a long-term lease on The Pyramid. Bass Pro agreed to make monthly payments of $35,000 and to pay a $500,000 penalty if it pulled out of the deal.
