Quote:
Originally Posted by maximus10
100 North Main To Become Convention Center Hotel Via Letter of Intent
Some big news broke late today via the mayor’s office. Not much details except that an agreement has been reached to redevelop 100 Main tower.
https://www.memphisdailynews.com/new...ter-of-intent/
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Looks like more info has come out:
UPDATE: Convention Center Hotel Footprint Bigger Than 100 North Main
By Bill Dries/Memphis Daily News Updated 11:21AM
https://www.memphisdailynews.com/new...00-north-main/
"THM Memphis Acquisitions LLC, the New York City-based developer of the project added more detail to the plan Friday, May 11. The new details come the day after THM and Loews Hotel Holding Corp. signed a letter of intent with the city of Memphis and the Downtown Memphis Commission toward a binding contract all sides hope to have done by the end of this year.
The New York City-based developer also has the vacant Jefferson Plaza building on the southeast corner of Second Street and Jefferson under contract for $4 million. The contract includes the open land next to the south side of the Jefferson Plaza building where a parking garage once stood and before that the Irving Block Prison on the Civil War era.
THM executive co chair Arlene Maidman said in a written statement the company “intends to re-develop the three contiguous acres as a single mixed-used project, consisting of more than 2 million square feet of hospitality, extended stay, retail, residential, commercial and parking uses.”
"In addition to the 100 North Main Building, the development would include two 30-story office towers of more than 500,000 square feet and a 467,000 square foot parking garage for more than 1,200 cars. THM has spent $12 million to date on acquiring the property next to the south side of 100 North Main up to Jefferson Avenue."