City reaches deal on One Beale Grand Hyatt financing

By , Daily Memphian Updated: September 01, 2022 3:41 PM CT | Published: September 01, 2022 10:20 AM CT

The agreement announced Thursday, Sept. 1, bypasses a city backstop of a reserve fund Carlisle Corp. had sought. Instead, the city puts up $10 million to be repaid by the One Beale developers in 10 years.


One Beale backstop Jim Strickland

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Bill Dries

Bill Dries

Bill Dries covers city and county government and politics. He is a native Memphian and has been a reporter for more than 40 years.


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