EPE Buys More Property

Craft Manor Apartments Inc., an Elvis Presley Enterprises (EPE)-affiliated company, has bought an apartment complex on Craft Road for $6.5 million from Southern Hills Court LLC. The 182-unit apartment complex is at 1094 Craft Road, west of Elvis Presley Boulevard. Built in 1961, the apartment complex formerly was called Southern Hills Apartments. The name has been changed to Craft Manor Apartments. Phone messages left at EPE were not returned by press time. But EPE has been buying properties around Graceland with the intention of making millions of dollars worth of improvements to the area. "We've got an ownership group with very deep pockets and significant intention to invest in the future of the Elvis legacy," EPE president and CEO Jack Soden was quoted as saying in a Jan. 14 Commercial Appeal story. "If we make Graceland as big a draw as we think it can be, we are going to suffer if we don't control the doughnut of land around us." In December, EPE bought China Buffet, a restaurant on Elvis Presley Boulevard for $1 million. At that time, Todd Morgan, a spokesman for EPE, told The Daily News it was the beginning of the organization's efforts to invest in properties near other EPE-owned properties.
Source: Google / Updated: Mar 9, 2007 
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stanton (profilecontact) wrote on Mar 13, 2007report abuse
I think that they should finally do something with Europe, too. Elvis himself didn`t get his dream fulfilled he had on touring Europe. So after all EPE should finally get around and do something for the millions of fans not living in the US and bring us some of their magic overseas, for example to the Ray Barracks, Elvis`Army Home in Germany which will be for sale very soon/summer 2007.
Teacher (profilecontact) wrote on Mar 11, 2007report abuse
This is from a recent interview with Sillerman that aired on CBS This Morning: Each year, 600,000 people file through Graceland. Sillerman believes he can double that number. "So many people want to come to Graceland because they want to celebrate his life," Sillerman said. "You know 40 percent of our visitors are unaccompanied kids under the age of 35. It tells you that it does get passed down." He wants to move the visitor center which sits on the other side of Elvis Presley boulevard and put it next to Graceland. The heartbreak hotel will be torn down to make way for two bigger hotels. In the entire complex that takes up 25 acres will grow to more than 100 acres.
Steve B. (profilecontact) wrote on Mar 11, 2007report abuse
Junje, I miss that yummy "nana puddin" myself. I can't wait to see what gets built around the mansion. Must be nice to have such deep pockets.
June (profilecontact) wrote on Mar 10, 2007report abuse
Awesome..........there is a major plan there somewhere. I would buy up everything around the Mansion and build a couple of hotels with showrooms and restaurants (we miss the menu at EP's Memphis, like the wonderful banana pudding and, sadly, the new restaurant on that same site is SO expensive).....and build more museums to display the ton of artifacts and personal belongings we have yet to see. The Elvis Experience is just getting better all the time.
elvis-finland (profilecontact) wrote on Mar 9, 2007report abuse
What they should do is build a film theater near Graceland and show Elvis' best movies like Jailhouse Rock and King Creole on there. In the same time they could sell DVD's of them too. Warner, MGM, EPE and Elvis fans would be happy.

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