MEMPHIS, Tenn. — Development at Liberty Park is running months behind schedule, and the city is paying millions in debt service while leaders look at options to move the project forward.
The plan to redevelop the old Fairgrounds into Liberty Park was approved by the city in 2018. While a sports complex has been built on the site, the hotel, restaurant, entertainment, and multifamily portions of the project have stalled.
“This was supposed to be breaking ground in January, and here we are in May,” Councilwoman Jerri Green said Tuesday. “What are the options? How can we hold them accountable? Are we going to find someone else, or are we going to work through this with them?”
Liberty Park apartments, hotel, entertainment ‘coming to fruition’
Antonio Adams, the city’s chief operating officer, told Green they are working with developer Capstone Development, but are also looking at other options…