Sheraton Renovation and Expansion
Category: Projects
Sheraton Renovation and Expansion
250 N Main St
Memphis, TN
The renovation of the existing 600 room Sheraton Memphis near the Renasant Convention Center. The city will purchase the hotel and contract architectural and engineering services using 501(c)(3) bonds through the CCRFC. Then, the hotel will be marketed for sale to a non-profit partner specializing in commericl real estate management to work on redevelopment with a local developer.
| Property Name | Sheraton |
|---|---|
| Project Cost | $226,000,000 |
| District | Core |
| Developer | City of Memphis (currently) |
| Architect | rdc |
| Status | Planned |
| Hotel Rooms | 600 |
| Approval Date | 2022-10-11 |
| Expected Completion | 2026 |
CCRFC Loan Details
| Incentive Program | TDZ Surcharge |
|---|---|
| Incentive Recipient | Hotel Memphis L.P. |
| Incentive Amount | $30 |
| Incentive Status | Approved |
| Incentive Approval Date | October 11, 2022 |
| Incentive MWBE Est | $0 |
CCRFC Loan Details
| Incentive Program | Bond Financing |
|---|---|
| Incentive Recipient | City of Memphis |
| Incentive Amount | $7 |
| Incentive Status | Approved |
| Incentive Approval Date | October 8, 2024 |
| Incentive MWBE Est | $0 |