Bass Pro continues forward in Memphis

Springfield-based retail giant Bass Pro Shops is continuing its planning work in Memphis, Tenn., according to a report in the Memphis Commercial Appeal.

The paper reported Wednesday that Bass Pro officials are on site at The Pyramid, Memphis' former basketball arena that has not been used regularly for sporting events since 2004.

The company has been paying monthly payments of $35,000 to the city of Memphis, which owns the structure, since November 2008, and Bass Pro continues to study the infrastructure of the facility. Specifically, the newspaper said, company officials have voiced concerns over seismic issues and the building's structural integrity, as well as the flood wall behind the facility.

"They are continuing their due diligence," said Robert Lipscomb, director of the Memphis Housing and Community Development department and head of the city's redevelopment projects, to the Commercial Appeal. Lipscomb told the paper he is confident Bass Pro will complete the project, noting that the company is exploring every possible issue before investing more money into the $100 million redevelopment project.

Bass Pro President Jim Hagale gave the last official update on the project to the Memphis City Council in October, saying negotiations and due diligence should be complete in the next 30 to 60 days. He noted at that meeting that an additional $20 million would be needed to bring the building up to code and to meet seismic requirements. The company said that money could come from federal funding or grants.[[In-content Ad]]