Medical District Begins Buy Local Program

“This is really a story about what can happen when you think about the collective demands of the institutions in the area.” The Memphis Medical District Collaborative (MMDC) announced a “Buy Local” business plan competition in advance of the October 26th kickoff of the “Operation Opportunity” initiative, which will give incentives to small, locally owned businesses to develop purchasing relationships with the big hospitals and universities in the district. U3A Vice President Alex Feldman, along witth MMDC President Tommy Pacello, were on hand for the announcement.

U3 Advisors was engaged by the Hyde Family Foundations beginning in 2014 to understand the economic and physical impact of 8 major anchor institutions in the Memphis Medical Center. Since completing this analysis, U3 Advisors, working with local partners, has lead the implementation of a three-pronged strategic Anchor Strategy. In January 2016, the Medical District Collaborative – a new non-profit community development organization to direct the future redevelopment of the Memphis medical district – was launched.

U3 Advisors, in partnership with the Collaborative, is currently designing and implementing the Anchor Programs as well as overseeing the advancement of several real estate development projects aimed at increasing the supply of residential, retail, and office space in the Medical District. Read more about U3A’s engagement in Memphis here.