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.

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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 almost 50 years covering a wide variety of stories from the 1977 death of Elvis Presley and the 1978 police and fire strikes to numerous political campaigns, every county mayor and every Memphis Mayor starting with Wyeth Chandler.


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