TN approves state-wide funding to revitalize historical buildings
MEMPHIS, Tenn. — The state of Tennessee is stepping up to commit more resources to revive historical buildings. This is all in an effort to encourage more communities and developers to invest in their most famous buildings that are now just sitting idle.
In April of 2021, the Tennessee General Assembly approved funding that would allow historic buildings to contribute to the economy.
One local building that will benefit from the funding is the Lowenstein Mansion, which is owned by William Townsend.
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He is one of 26 recipients listed by the Tennessee Department of Economic and Community Development who will receive a portion of the nearly $5 million grant.
“People were like you can turn this into an Airbnb, a boutique hotel, I want this to be a space we can all use,” Townsend said.
With the grant giving him $300,000, Townsend told WREG that he plans to turn the building into a shared workspace.
“So, what does that look like? We laid out some tentative plans,” Townsend said. “The bedrooms, the drawing rooms, the dining rooms – they’ll either become conference rooms, possibly private officers. My concept is that we do as little harm to the building as possible.”
One of the grant’s guidelines is that the owners must keep the buildings historically accurate.
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Townsend said he believes he can do that, while also making the building a part of the community again.
“Let’s be honest, you know in this city even now, not everyone has access to everything,” Townsend said. “So, if I can provide access to a beautiful space that anybody can walk in and use, I win.”
Besides the Lowenstein Mansion, there are multiple locations in West Tennessee set to receive grant money including two in Hardeman County and two in Memphis.
The other Memphis locations are the Sterick Building (received $300,00) and the Dermon Building (received $300,000).
The full list of grant recipients can be found here.
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