First Horizon Corp. is opening a new banking center in a prominent area of East Memphis as part of a new mixed-use development.

The Memphis-based bank is set to occupy a 5,000-square-foot banking center at 5000 Poplar Ave., part of the site that used to be home to Houston’s restaurant, First Horizon told MBJ⁠.

First Horizon would be an anchor at a larger proposed mixed-use development. The bank previously had its First Horizon Financial Services location at the adjacent property.

The bank already has five existing banking centers along the Poplar corridor. In an email interview with MBJ, First Horizon Mid-South regional president Bo Allen said the transformation of 5000 Poplar Ave. into a mixed-use development made the decision easy for the bank to invest in the project.

“East Poplar is a vibrant, high-growth corridor, and this location gives our clients continued access to banking services adjacent to convenient neighborhoods, hospitality, and retail,” Allen said. “This means our clients get a banking experience that grows the same way their community is growing.”

First Horizon estimates construction would take about 24 months, with specific updates on the timeline to come at a future date, according to Allen.

Local developer Brown Gill said that the overall, 55,000-square-foot project's current schedule is "approximately 20 months, with the overall project targeted for completion in spring 2028."

The site at 5000 Poplar Ave. is located along one of the busiest stretches in the city. The property is zoned as Commercial Mixed-Use 3.

First Horizon had $84.4 billion in assets as of June 30, 2026. It's also the No. 1 largest locally headquartered bank, based on total deposits, according to MBJ⁠ research. The Memphis-based institution has 32 branches in the Memphis area, according to the latest FDIC⁠ market report.

Allen said the future First Horizon banking center would prioritize modernization to better meet the needs of the bank’s clients.

“This 5,000-square-foot banking center is designed around how clients bank today — using a combination of innovation and banker support and advice to create an exceptional client experience,” he said.

First Horizon currently has a temporary location at 4990 Poplar Ave., and Allen said clients should expect a “seamless” banking experience as construction begins on the future banking center.

4990 Poplar LLC bought the former First Horizon Financial Services site from First Horizon for $1 million in December 2025. And 5000 Poplar LLC bought the former Houston's from the chain's parent company, Hillstone Restaurant Group, in November 2025 for $2.1 million. According to deeds, both entities are managed by Gill, who is partnered on the project with Darrell Horn. Gill said 4990 Poplar and 5000 Poplar are "being combined as part of one coordinated redevelopment."

In a site plan filed with the Memphis and Shelby County Division of Planning and Development⁠, a large mixed-use building would be built where Houston's once stood, a restaurant would go on the First Horizon Financial site, and a smaller building designated as retail sits in between. The site plan application was prepared by Memphis-based Rockfield Engineering LLC.

Gill said that the current tenant mix includes:

• a large regional office user taking up about 30,000 square feet

• First Horizon's 5,000-square-foot space

• The Tradition, a 7,500-square-foot restaurant, and

• 2,300 square feet for Solidcore

In August, Grinder, Taber & Grinder⁠ filed a building permit valued at $22 million for the project, covering "ground-up construction of multiple buildings — mixed-use building, retail building, and restaurant building," the permit stated. "Includes basement parking garage, surface parking, and utilities to the building."

Gill said LRK is the architect on the project, and Mark Levy is leading the landscape design.

First Horizon said the new banking center would be staffed similarly to other banking centers in the area, with a full range of products and services.

“We’ve always known the importance of the Poplar corridor to the Memphis community,” Allen said. “We will continue to serve clients in a differentiated way — with the resources of a larger financial institution and the client-first, personalized approach of a community bank. We will also continue to strengthen the community by supporting and partnering with local nonprofits and small businesses in and around the Poplar corridor and across the Memphis community.”