The 9:01: South Main lands five new projects

RYAN POE | THE COMMERCIAL APPEAL

In another big win for Downtown Memphis' South Main area, a New York developer is planning to pump $100 million into five projects, our Desiree Stennett reports.

The largest of the projects is the $54 million, 178-room Dream hotel on the site of the iconic Royal Furniture building at 122 S. Main. Desiree has reported that news before. Check out her latest story for updates on the other four projects in the works.

Of course, almost needless to say, the developer is looking for incentives. Tom Intrator and partner Shay Yadin will ask the Downtown Memphis Commission's Center City Revenue Finance Corp. board to approve incentives for the projects at a public meeting at 9 a.m. Tuesday at 114 N. Main. What we know about the incentives at this point:

For each of the projects, Intrator and Yadin are requesting a payment-in-lieu-of-taxes incentive. If approved, the hotel would see its property taxes lowered for 20 years and the other projects would get a 15-year tax break.