Triumph Bank Helps Fulfill James Lee House Dream
View the entire groundbreaking ceremony. Triumph is noted at minute 28.
Built in 1848, the James Lee House on Adams Avenue is a well-known Memphis historical landmark. After sitting vacant for over 50 years, and demolition attempts, the Lee House will see new life. This is due in part to Triumph Bank providing real estate financing of $1 million.
The renovation fulfills a two-and-a-half year dream of Jose Velazquez––to transform the building into a bed & breakfast. Velazquez, Co-Founder and Managing Member at The James Lee House, LLC, will co-own the new B&B with partners J.W. and Kathy Gibson.
On July 1, 2013, Triumph Bank co-sponsored a groundbreaking ceremony at the site featuring several speakers. Velazquez, the last speaker, took a moment to single out Triumph and Commercial Lending VP Jeff Yearwood: “Jeff sat with me for the last 2 1/2 years, listening to this dream that had no real substance at the beginning; and treating me like I was a million dollar client. That doesn’t happen all the time; and trust me, I talked to many banks...and they didn’t call back after the original meeting.”
Yearwood stated: “This was definitely an ambitious project with moments where we didn’t think we’d reach the finish line. We were eager to be involved and committed to the end. Triumph’s philosophy has always been that improving and revitalizing our neighborhoods is good business.”
As Velasquez also points out in the video, Mayor Wharton, J.W. and Kathy Gibson, Bob Loeb, and many others deserve tremendous credit. “We are proud to be involved with an amazing team of people who are saving 165 years of treasured history,” added Yearwood.