Major apartment development planned for Lamar Ave.

On five blighted acres near Memphis International Airport, Mike Rayna wants to develop 228 apartments and a retail building. The property, 3728 Lamar Ave, currently contains two vacant buildings — a four-story former hotel and a 34,000-square-foot former convention facility. Rayna wants to place 48 apartments in the former hotel, attach a six-story building with 180 units, and redevelop the adjacent convention building into retail space, according to a recently submitted application to the Memphis…