A downtown Memphis landmark that has sat dark for years could soon be back in the hotel game, with developers pitching a top-to-bottom rehab of the former DoubleTree that leans into its 1927 Hotel Tennessee roots.
The plan would bring the building back as a higher-end, boutique-style property, with refreshed meeting rooms and new food-and-beverage spots meant to make the address a magnet again rather than a reminder of what used to be.
As reported by WREG, King & Union Memphis Acquisitions, doing business as Memphis K&U, has asked the Center City Revenue Finance Corp., the financing arm of the Downtown Memphis Commission, for a tax-incentive package to make the numbers work. The filing says construction could begin later this year, with owners hoping to reopen the property in 2028 if they can lock in public support.
Plans To Restore The Hotel Tennessee's Core
Project documents submitted to the CCRFC describe a "soft-brand" four-star boutique or lifestyle hotel that would restore the original Hotel Tennessee's historic core while layering on modern hospitality perks. According to the project's PILOT application, the concept calls for roughly 5,000 square feet of new event and food-and-beverage space.
The application also proposes shifting the main arrival experience back to BB King Avenue, updating mechanical systems and windows to current standards, and repurposing portions of the 1980s addition for meeting rooms and other public uses.
Costs, Jobs And A Tentative Timeline
Estimates tied to the Downtown Memphis Commission filing put the total development investment at about $63 million, with roughly $41.5 million devoted to interior and exterior renovation work, Commercial Appeal reported. The owners say the upgraded hotel would support about 75 jobs once it is up and running.
Why A PILOT Is Central To The Pitch
The development team argues that a payment-in-lieu-of-taxes, or PILOT, is essential to securing bank financing and getting the project over the finish line, a familiar argument for large downtown renovation efforts. The CCRFC's PILOT policy lays out how requests are scored, when incentives can be recaptured, and what developers have to deliver in return.
The Downtown Memphis Commission, meanwhile, points to a broader pipeline of center-city investment that is supposed to draw more visitors, jobs, and events into the core.
The Center City Revenue Finance Corp. is scheduled to consider the PILOT request at its July 14 meeting, Commercial Appeal reported. If the board signs off, developers say they will move ahead with construction and fold the hotel’s comeback into a growing list of downtown projects that officials argue will reshape Union Avenue and the surrounding center city.
