Loeb Properties Planning $24M Overton Square Hotel

The Memphis-based company and its partners – boutique hotel developer LRC2 Properties and hospitality management company MMI Hotel Group – are seeking a 15-year tax abatement to construct a 100-room boutique hotel at the southwest corner of Cooper Street and Trimble Place, south of Madison Avenue in Midtown Memphis.

According to Overton Square LLC’s application filed with the Economic Development Growth Engine for Memphis and Shelby County, the project’s owners are seeking a 15-year Community Builder payment-in-lieu-of-taxes (PILOT) incentive to build a $24.2 million hotel on the 1.3-acre lot that is currently home to a parking lot situated between the Hattiloo Theatre and Bar Louie.

Read the full article at Memphis Daily News.