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 Name | Dermon Building |
|---|---|
| Project Cost | $22,342,100 |
| District | Core |
| Type | Renovation |
| Developer | Nick Patel Dermon Building OZ LLC |
| Architect | Ashley Hernandez |
| SF Developed | 92,900 |
| Status | Planned |
| Hotel Rooms | 150 |
| Parking Spaces | 28 |
| Retail SF | 1,500 |
| Approval Date | 2023-09-12 |
| Expected Completion | 2025 |
PILOT Details
| Lessee | Dermon Building OZ LLC |
|---|---|
| Lessee Address | Nick PatelDermon Building OZ LLC 11227 Matthews Cove Ln Knoxville, TN 37934 |
| Term | 10 Years |
| Approval Date | September 12, 2023 |
| Extension | 0 |
| Term Mos | 120.00 |
| Status From Date | Approved |
| Remaining PILOT Years | 0.00 |