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The Dermon Building Hotel

Category: Projects

The Dermon Building Hotel

46 N 3rd St
Memphis, TN

The historic Dermon Building will be renovated for use as a 150-key hotel with ground-floor commerical space. The renovation will maintain and enhance the historic features like the exterior decorative glazed terra cotta and the interior elaborate ceiling plaster moulding details.

Property NameDermon Building
Project Cost$22,342,100
DeveloperNick Patel Dermon Building OZ LLC
ArchitectAshley Hernandez
SF Developed92,900
Hotel Rooms150
Parking Spaces28
Retail SF1,500
Approval Date2023-09-12
Expected Completion2025


PILOT Details

LesseeDermon Building OZ LLC
Lessee AddressNick PatelDermon Building OZ LLC 11227 Matthews Cove Ln Knoxville, TN 37934
Term10 Years
Approval DateSeptember 12, 2023
Term Mos120.00
Status From DateApproved
Remaining PILOT Years0.00