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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 NameAmbassador Hotel
Project Cost$2,495,261
DistrictSouth CBID
DeveloperEd Cabigao
ArchitectPKM Architects
SF Developed15,000
Total MWBE$763,338
EBO Percent CTD1.00
Apartment Units10
Restaurant SF4,750
Approval Date2019-09-10
Expected Completion2020
Year Opened2021


PILOT Details

LesseeCabigao Investments, LLC
Lessee Address467 Johnson Cv, Memphis, TN 38117
Term15 Years
Approval DateSeptember 10, 2019
Close Date6/30/2021 0:00:00
Term Mos180.00
Status From DateActive
Expected Term Date6/30/2036 0:00:00
Remaining PILOT Years12.01
Pilot Documents
Instrument #22059917
June 30, 2021 - Quit Claim to CCRFC

Project Documents