I lived in Memphis for 7 years (2000-2007). At the end of the 90's, the city made a concerted effort to improve the safety of the downtown area, as significant investments had been made in the area (the Pyramid, Beale St.'s renovation, realtors like Turley putting money into downtown residential, etc.).
While crime was a significant issue (especially auto-related theft), the worst of the element had largely been pushed out to specific areas that you knew to avoid (Orange Mound, Brooks Rd., and in general south of Poplar/east of Kirby).
Then the city couldn't help itself and began annexing and making suburban areas part of the city and its horrible school system, pushing folks with money further away and by extension creating commercial development in Collierville, Germantown, even out to Fayette County. They brilliantly jumped on the "reimagined criminal justice" bandwagon and crime has taken off to the point that every single commercial operation within city limits has 24-hour private security in the parking lots. Beale St. itself endures shootings and violence (sometimes random for "fun," other times as part of gang-related crap). It is a nasty, dangerous place now.
I won't say that it's beyond repair, but the residents who have voted for this are the ones who will have to commit to change.