Minority-led group proposes $50M hotel and high-end condo project in Pinch District
A minority-led group has plans for a roughly $50 million mixed-use development in the Pinch District. Members of Blues Note LLC told MBJ that the group intends to develop the Blues Note Hotel — a 100-room property — at 463 N. Front St., as well as a 40-unit high-rise condominium.
The North Front Street property is situated within walking distance of the Pyramid. MBJ reported on May 11, that Ashaif Enterprises purchased the property at 463 N. Front St. for $715,000, according to a transaction filed with the Shelby County Register of Deeds.
The Blues Note Hotel, aimed at being an independently owned and operated entertainment and destination property, proposes an array of amenities, including:
100 guest rooms
40 condos with floor-to-ceiling glass and patios
Retail and office space
Lobby bar and live music stage
Conference and meeting space, with a ballroom
Custom soundproof music studio
Spa and salon
Rooftop guitar shape hotel pool with stage and lounge
Private condo pool with lounge
Custom trolley station
Parking garage with valet
Bill McCrary, principal developer and project manager for Blues Note, didn’t give a timeline on when he expected construction to begin or when it would be completed.
While due diligence has been done, Blues Note is still in discussion with city planning department officials on details such as as building layout, McCrary said.
He indicated that, once completed, the Blues Note Hotel would have about 100 employees.
“We are going to have [an] above-average pay rate or way above the pay rate of what hotels are normally paying employees,” he said.
McCrary said the Memphis project would be the first of what they envision as a similar concept coming to other cities.
“What better place to kick off a hotel, condos, and mixed-use [brand] called Blues Note [than] in Memphis? And the beginning of a national franchise; we are in talks with cities like New Orleans, Miami, and Detroit for a Blues Note,” he said.
With the condos, Reginald Fentress, Blues Note's development coordinator, said the City of Memphis will also benefit.
“They are going to generate revenue to the city tax base every year, which is a win to the city,” Fentress said.
According to McCrary, the $50 million price tag on the project could increase, based on a high level of infrastructure for the building. The group is working with local, state, and federal officials to build above the existing Trolley track," McCrary said.