Kemmons Wilson moving HQ Downtown
Kemmons Wilson Cos. plans to move its headquarters to the old Spaghetti Warehouse building in Downtown Memphis.
The famous, revered local company would spend $6.8 million renovating the 20,000-square-foot building into office space, according to its payment-in-lieu-of-taxes (PILOT) application filed with the Downtown Memphis Commission's Center City Revenue Finance Corp. (CCRFC).
The PILOT would last 15 years and would save Kemmons Wilson Cos. (KWC) $800,000, according a Downtown Memphis Commission (DMC) analysis. During the 15 years, the property will pay about $270,000 more in taxes than if it had gone undeveloped.
KWC will move about 30 employees to the building, according to the application. The company's headquarters is currently located at 8700 Trail Lake Drive West, near TPC Southwind.