As 2020 kicks off, more than $5 billion in projects are underway in Downtown Memphis, according to the Downtown Memphis Commission.
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Companies Tom Intrator is invested in have continued to sell off local apartment buildings and purchase Downtown property.
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Four new hotel projects have joined Downtown Memphis' largest developments, adding hundreds more rooms to an already long list of hotels that are in various stages of planning and construction or have recently opened.
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The developer said density is key for the Pinch District because a significant amount of office space, apartments, and retail need to be built for any of them to be successful. If he just built the 940 apartments that are projected to be part of phase one, he doesn't think they would be leased.
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That intentional outreach, Intrator said, has the potential to raise the quality of business offerings along Downtown Memphis' Main Street while also welcoming more well-known national brands to the city.
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Whether through franchise agreements, management deals, or some other structure, Intrator will invest in all the restaurant and hotel operators filling his developments, he said.
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City Council members approved development milestones Tuesday, Dec. 3, in three major Downtown development projects.
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A Downtown board primed a big pump Monday, Dec. 2, approving a combined $306 million in tax incentives -- with another $143 million anticipated -- to let flow $1.4 billion in development on the east and north edges of Downtown’s core.
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Tom Intrator landed almost $20 million worth of tax breaks Tuesday — and revealed he had purchased another South Main property.
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Major changes are happening across Downtown Memphis. One area in particular -- South Main.
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Tom Intrator, a man who has made waves this year by buying more than $20 million worth of Downtown property, recently sold a 324-unit apartment complex.
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Tom Intrator has made headlines this year for numerous property acquisitions. But, his latest headline is from a big sale.
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Renowned hotel and brand management company Dream Hotel Group has announced plans to bring its Dream Hotels brand to Downtown Memphis, set to open in 2022.
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The New York-based investor just spent $2.43 million on parking lots at 388 N. Front St. and 367 N. Main St., which contain a combined .8 acres.
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New York-based Dream Hotel Group will build its first hotel in Memphis at 122 S. Main: a mid-rise tower that will incorporate and preserve the historic Royal Furniture building.
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