City Council to expand One Beale ‘backstop’ debate
Among other topics, the discussion of the city’s capacity for bond debt will come into play during Tuesday morning committee sessions.
There are 45 article(s) tagged One Beale:
Among other topics, the discussion of the city’s capacity for bond debt will come into play during Tuesday morning committee sessions.
Memphis Mayor Jim Strickland says the city has offered more incentives for the proposed Grand Hyatt hotel at One Beale “than any other development in the history of the city.” He also questioned why One Beale developers didn’t go to the bond market sooner.Related story:
The standoff over terms to start construction of the third of three hotels at One Beale remains despite Thursday’s council vote.
The Thursday 4 p.m. session at City Hall comes after the city administration balked at a change in the terms of a city-funded backstop for the hotel project. The delayed Tuesday vote came as the administration got some expressions of concern from state officials.
At stake is the financing for the last of three hotels at the One Beale development that together would serve as a second convention center hotel.
The Memphis City Council meets Tuesday, July 12, at 3:30 p.m. Committee sessions start at 8 a.m. at City Hall. Items on the agenda include One Beale financing and Frayser flood plain housing.
This week’s Inked shares news on more multifamily plans for the Raymond James building, the Caption by Hyatt opening, a potential update on the former Office Depot building in the Medical District and 2021 annual report data from Memphis Tourism.
It includes Talk Shop, a 24/7 eatery, which is a mash-up of a beer garden, coffee shop, restaurant and co-working space.
While the total value of the bonds is still undetermined, Chance Carlisle of Carlisle Corp. expects the value to be around $75 million.
Fancy’s Fish House opens this week on roughly the site of the former Captain Bilbo’s, and it promises good food, a casual atmosphere and an ‘extraordinary’ crudo.
“This is not something we have taken lightly,” said Memphis COO Doug McGowen. “The world has changed and the Loews hotel is not coming. Those are two things that have caused us to act.” City Council urges early voting expansion in county primariesRelated story:
The economic development items are part of a council agenda that could see the formal end of a city-county consolidation bid and the end of council discussion of police and fire residency requirements.
Carlisle Corp. will begin construction on the Grand Hyatt in May. The developer also announced the opening of Caption by Hyatt and plans for the former Nylon Net Building site.
After years of speculation and false starts, it seems Whataburger is getting closer to breaking into the Memphis market. Also, updates on the progress of work done at One Beale and new ownership for Chickasaw Oaks.
The Black-owned multi-family developer who partnered with Carlisle Development on part of the One Beale project and the nearby 7 Vance mixed-use development is taking Carlisle to court as the issue of minority participation in general moves back to the front burner.
The global supply-chain shortage, which first took its toll on automobile manufactures in need of semiconductor chips, eventually affected the cost of lumber. Developers like the Henry Turley Co. were left trying to keep construction projects on time and on budget.
The 20-story, $190 million Grand Hyatt will be a centerpiece of the 5.2-acre mixed-used development at the end of Beale Street overlooking the Mississippi River.
One Beale’s developer unveiled the final renderings for the 20-story, $190 million Grand Hyatt Hotel. Construction is to start early next year.
Memphis attorney Don Campbell will become Carlisle LLC’s chief administrative officer and general counsel. CPA Eric Lucka will be senior vice president for accounting and investments.
The nine-story hotel at 233 S. Front is connected to a sister hotel, the Hyatt Centric, which opened April 15 at Front and Beale.
The Hyatt Centric is the city’s first hotel with a Beale Street address. It’s intended to be a mix of the old and the new, as well as a mix of the familiar and the unique.
The sales director for the Hyatt Centric offered journalists an early, sneak peek of the $75 million, 227-room luxury hotel that is nearly finished at 33 Beale.
Clever restaurateurs, fearless city planners and far-sighted entrepreneurs didn’t let 2020 slow them down. And if we needed reasons to cheer, we had Ja Morant and Brady White.
Hyatt Centric’s hotel guests and patrons of its rooftop bar and riverfront restaurant will have river views despite plans to erect a taller Grand Hyatt next door.
Memphis City Council members heard about the difficulty of getting financing for hotel projects before approving the financing of a third hotel for One Beale. The set of parking projects nearby had a more complex path to approval.
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