Canopy Hotel
Category: Projects
Canopy Hotel
164 Union Ave
Memphis, TN
A new-construction, 5-story hotel on the former site of the Benchmark Hotel.
| Property Name | Benchmark Hotel |
|---|---|
| Project Cost | $42,972,661 |
| District | Core |
| Type | New Construction |
| Developer | MHF Memphis (Magna Hospitality) |
| Total MWBE | $7,449,468 |
| EBO Percent CTD | 1.00 |
| Status | Completed |
| Hotel Rooms | 170 |
| Approval Date | 2018-06-12 |
| Expected Completion | 2020 |
| Year Opened | 2020 |
PILOT Details
| Lessee | MHF Memphis VI LLC |
|---|---|
| Lessee Address | 300 Centerville Road, Suite 300, East Warwick, RI, 02886 |
| Term | 15 Years |
| Approval Date | June 12, 2018 |
| Close Date | 7/20/2018 0:00:00 |
| Extension | 0 |
| Term Mos | 180.00 |
| Status From Date | Active |
| Expected Term Date | 7/20/2033 0:00:00 |
| Remaining PILOT Years | 8.61 |
| Pilot Documents | Instrument #18074103 July 20, 2018 Instrument #20096407 August 31, 2020 Instrument #18074102 July 20, 2018 |