Crosstown CEO Richardson Steps Down to Impact Role

Businesses and property owners in Crosstown should watch how the redevelopment cooperative's strategy shifts during the CEO search.

Updated on Nov. 5, 2026 in Openings & Closings

Crosstown CEO Richardson Steps Down to Impact Role

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Todd Richardson, president and CEO of the Crosstown Redevelopment Cooperative in Memphis, announced Thursday that he plans to step down as CEO and move into a Chief Impact Officer role. He will remain CEO until a replacement is found.

Why it matters

The move signals a shift in how the Crosstown development model is being carried into neighborhood-scale strategy, which affects businesses operating in and around the Crosstown area. Operators with commercial interests there should watch how leadership and strategy evolve during the search for a successor.

The announcement is tied to the 10th anniversary of Crosstown revitalization, with the Crosstown Redevelopment Cooperative's neighborhood development mission dating to 2014. No additional financial or headcount figures were included in the source material.

The players

Crosstown Redevelopment Cooperative

A Memphis neighborhood development organization that anchors the Crosstown Concourse redevelopment model in the Crosstown district.

Todd Richardson

President and CEO of the Crosstown Redevelopment Cooperative, who is moving into the Chief Impact Officer role.

The details

Richardson will translate the Crosstown Concourse development model into neighborhood-scale strategy in his new role as Chief Impact Officer. The Crosstown area already includes a newly opened music venue, Satellite Music Hall, and an OutMemphis headquarters under construction. Vacant commercial parcels remain on surrounding streets, and the empty Crosstown Mound, left over from aborted Interstate 40 construction, is also part of the area's ongoing redevelopment picture.

Thursday (week of November 5, 2026): Richardson announces plan to step down as CEO.
2014: Crosstown Redevelopment Cooperative mission begins promoting neighborhood development.
Upcoming: Vertical village marks the 10th anniversary of Crosstown revitalization.

Market Landscape

Crosstown's redevelopment sits on land left vacant when the Interstate 40 project was abandoned, and the area's revitalization has unfolded over roughly a decade. The leadership change arrives as neighborhood-scale development strategies are being tested across the district.

Businesses with commercial interests in Crosstown should monitor how the cooperative's leadership transition affects development priorities and tenant recruitment. Operators should track announcements about the CEO successor and any changes to neighborhood-scale strategy during the search period.

The takeaway

Commercial tenants and property owners near Crosstown should note that the organization's leadership will be in flux until a successor is named. Watch for the cooperative's announcement of a new CEO and any stated changes to neighborhood development priorities.