The Kress Building
Category: Projects
The Kress Building
9 N Main St
Memphis, TN
Renovation of a 50,000sf building into 48 hotel suites with meeting and retail space and will operate as an annex to the adjacent Springhill Suites.
| Property Name | Kress |
|---|---|
| Project Cost | $6,000,000 |
| District | Core |
| Type | Renovation |
| Developer | THG Main |
| Architect | David Schuermann |
| SF Developed | 50,000 |
| Status | Completed |
| Hotel Rooms | 48 |
| Approval Date | 2004-04-13 |
| Year Opened | 2005 |
PILOT Details
| Lessee | THG Main, LLC |
|---|---|
| Lessee Address | Attn: Gregory Averbuch, c/o Summit Asset Management Corporation, 4401 Northside Parkway Suite 711, |
| Term | 15 Years |
| Approval Date | April 13, 2004 |
| Close Date | 12/31/2004 0:00:00 |
| Extension | 0 |
| Term Mos | 180.00 |
| Status From Date | Terminated |
| Expected Term Date | 12/31/2019 0:00:00 |
| Remaining PILOT Years | 0.00 |
| Pilot Documents | Instrument #04213221 December 31, 2004 Instrument #20055031 December 31, 2019 - Quit Claim dissolving PILOT Instrument #05109976 July 8, 2005 - Amendment |