345 S. Main St. (Ambassador Hotel)
Category: Projects
345 S. Main St. (Ambassador Hotel)
345 S Main St
Memphis, TN
The renovation of the historic Ambassador hotel at 345 S. Main St. into a mixed-use building with a ground floor restaurant space, and 10 apartments. The developer is the owner of the South of Beale restaurant, and the ground floor will be the restaurant's new location.
| Property Name | Ambassador Hotel |
|---|---|
| Project Cost | $2,495,261 |
| District | South CBID |
| Type | Renovation |
| Developer | Ed Cabigao |
| Architect | PKM Architects |
| SF Developed | 15,000 |
| Total MWBE | $763,338 |
| EBO Percent CTD | 1.00 |
| Status | Completed |
| Apartment Units | 10 |
| Restaurant SF | 4,750 |
| Approval Date | 2019-09-10 |
| Expected Completion | 2020 |
| Year Opened | 2021 |
PILOT Details
| Lessee | Cabigao Investments, LLC |
|---|---|
| Lessee Address | 467 Johnson Cv, Memphis, TN 38117 |
| Term | 15 Years |
| Approval Date | September 10, 2019 |
| Close Date | 6/30/2021 0:00:00 |
| Extension | 0 |
| Term Mos | 180.00 |
| Status From Date | Active |
| Expected Term Date | 6/30/2036 0:00:00 |
| Remaining PILOT Years | 11.76 |
| Pilot Documents | Instrument #22059917 June 30, 2021 - Quit Claim to CCRFC |
Project Documents
| Documents |
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