City Council to Consider Overton Square Hotel Back-Up Plan

Loeb Properties Inc., developers of the Overton Square entertainment district, is part of a development group planning to build the seven-story hotel on the corner of Cooper Street and Trimble Place next to Hattiloo Theatre.

Boutique hotel developer LRC2 Properties and hotel management firm MMI Hotel Group are partners in the estimated $24 million project that calls for up to 109 hotel rooms, according to plans Loeb released in August.

The amendment would allow for a back-up plan for the townhouses or apartments on 3.36 acres that is now a surface parking lot on the southwest corner of Cooper and Trimble. The back-up plan might come into play if the developers don’t get financing for the full-service hotel or decide not to build it.

But the other options would not be in addition to a hotel.

Read the full article at the Daily Memphian.