July 12, 2016
Boyle Donates $50,000 to Harahan Bridge Project
Boyle Investment Co. is donating $50,000 to the project to build a bike and pedestrian bridge over the Mississippi River at Memphis.
That contribution and others have now provided the required $1 million local match of private funds to secure a $15 million federal grant, Boyle officials said.
Boyle, a Memphis commercial real estate firm, is one of the latest contributors for the redevelopment of the old railroad bridge.
A few weeks ago, the Greater Memphis Chamber issued a call for private donations to provide the matching funds in time to secure the federal grant.
The Harahan Bridge Trail Project will connect Downtown and West Memphis with a boardwalk on the edge of the 97-year-old Harahan Bridge. The aluminum planking will be laid on supports that once held lanes for automobiles.
Although the local matching money has been raised, fund raising continues for the enhancement, maintenance and operation of the boardwalk.
Total cost of the project is $30 million. The one-mile span will connect to trails on the Arkansas side of the bridge. On the Memphis side, the span will connect to existing bike lanes in Memphis, including the Shelby Farms Greenline.
“Boyle Investment Company has been a longtime supporter of the creation and extension of the Shelby Farms Greenline and Wolf River Greenway, which are such important amenities for the residents of Memphis and Shelby County,” Paul Boyle, president of Boyle, said in a statement released by the Memphis firm.
“Over the past several years, Boyle has made land donations and provided easements, both of which have allowed for the extension of the greenway between the Wolf River and Humphreys Boulevard from Walnut Grove to Shady Grove and for the connection of the Memphis greenway to the Germantown greenway,” the statement says, adding, “Likewise, we thought it was important to support the Harahan Bridge Trail Project, which eventually will connect to both the Shelby Farms Greenline and Wolf River Greenway.”
Boyle co-chairman Henry Morgan praised investment executive Charles McVean, head of McVean Trading and Investment in Memphis, for leading private fund-raising.
“Memphis citizens, businesses and community leaders have responded positively to this new amenity and have expressed enthusiasm for additional greenway segments throughout the community, and so Boyle is proud to play a role in this significant initiative,” Morgan said.
According to Boyle Investment, planning will be completed this summer, construction will start in September, and the route over the Mississippi will open next year.