Plans for a boutique hotel in Overton Square moved forward Monday, after developers submitted the plans to the Office of Planning and Development.
Developed by Loeb Properties in partnership with LRC2 Properties and MMI Hotel Group, the hotel is slated for what’s currently a 1.3 acre parking lot to the north of Hattiloo Theater.
The hotel will be designed for Marriott's boutique soft brand, Tribute Portfolio, built to match Overton Square’s “unique architecture and high-end finishes that incorporate local historic imagery.”
Tribute Portfolio hotels are “robust in personality” and designed for “travelers seeking fresh travel experiences that reflect their own unique individual point of view,” according to Marriott’s website.
Loeb Properties says the hotel here will have “expressive design moments, vibrant public spaces,” as well as food and beverage services that include a rooftop bar overlooking Overton Square.
Hotel developers anticipate the hotel will enable a regional performing arts district to form around Playhouse on the Square, Hattiloo Theater, and Ballet Memphis
Last year, Loeb Properties was awarded a $6.1 million tax break over 15 years by the Economic Development Growth Engine for Memphis and Shelby County to construct the hotel.
Plans submitted to EDGE priced the project at a little over $24 million. Construction of the seven-story, 109-room hotel could begin as early as December, wrapping up in early 2020.