Hyatt Centric Set For Memphis
Hotel to be part of the $225 million mixed-use One Beale project
A Hyatt Centric hotel is on the books for the $225 million mixed-use One Beale development planned along Memphis’ riverfront.
Developed by Hyatt Hotels Corp., the full-service, 4-star boutique hotel will be located on Beale St. and offer 227 guestrooms and 15,000 sq. ft. of meeting and function space. Developers plan to renovate the former William C. Ellis and Sons Ironworks and Machine Shop as part of the conference center. The hotel’s planned L-shaped, red brick façade bridges the original structure’s roots as one of the earliest and longest-running businesses in Memphis (it was built in 1879), musical references in this historic district and the city’s modern vibe.
A new riverfront restaurant, outdoor pool plaza and rooftop lounge are also on tap for the property. Hyatt will own 50% of the hotel via a joint venture with One Beale developer Carlisle, LLC and operate it under a long-term management contract.
Construction on the mixed-use project will begin January 2019. The 5.5 acre development will also include residential, retail and office spaces and a seven-story public parking garage. Construction on 227 luxury apartments will begin in tandem with the hotel and feature 15,000 sq. ft. of office space and 10,000 sq. ft. of restaurants along the riverfront.