Companies Tom Intrator is invested in have continued to sell off local apartment buildings and purchase Downtown property.
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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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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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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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Downtown Memphis is on the brink of a commercial real estate explosion, and hotels are helping to fuel the revival.
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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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The New York developer who purchased the Royal Furniture building in Downtown plans to transform the building into a 178-room hotel.
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Tom Intrator has purchased another Downtown building for redevelopment.
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A New York-based developer is planning to pump millions into making South Main Street a more dense and active corridor.
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“I was originally attracted to Memphis for multifamily opportunities, but upon experiencing and studying the market, I found great opportunity in a variety of Downtown real estate,” he said.
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The Royal Furniture building on South Main Street near Gayoso Avenue has been sold for $3.5 million to make way for what will eventually become a mixed-use building.
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