$16M building permit brings Overton Square hotel closer to reality

A $16 million building permit was filed Monday for The Memphian Hotel, a boutique hotel development planned for Overton Square. 

The full project is expected to cost more than $24 million. The Memphian Hotel will be seven stories and about 100 rooms next door to the Hattiloo Theatre between Trimble Place and Monroe Avenue at 21 S. Cooper St. 

The project, led by Loeb Properties, was first announced in 2017 when developers were granted a 15-year tax break worth more than $6 million.

In exchange for the tax break, Loeb promised to create 35 hotel jobs, 25 food and beverage jobs and five management positions. The hotel will also include a rooftop restaurant and structured parking.

Desiree Stennett covers economic development and business at The Commercial Appeal. She can be reached at desiree.stennett@commercialappeal.com, 901-529-2738 or on Twitter: @desi_stennett.