French Quarter Hotel Deal Moving Forward

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(Memphis) It's the last big puzzle piece on the redevelopment of Overton Square.

Thursday night, people who live here couldn't be happier.

The energy is everywhere in Overton Park.

New shops and restaurants, and it's not stopping, helping Midtown shine on the map

"We just moved from NYC and we'd totally live here, it's pretty cool."

Construction is taking over corner after corner, but Juan Poole says it all seems a little silly with this abandoned hotel sitting in the middle of Midtown's booming business district.

"It's a bit of an eyesore right now, but you never know. It could work and be a good thing."

Almost everyone here says developing this property is long overdue.

A Texas company first put in a contract in July and Thursday night agreed to move forward, without saying exactly what they want to build here.

But most people will take anything.

"It's about time, it's been dead for a long time, bringing it back is awesome."

Malco theater is reportedly looking to get into the act.

They're tossing around the idea of an expansion.

It's all great news in a neighborhood that's been fighting to grow and finally appears to be nearing completion.

"I grew up in's nice to see everyone going on Memphis is bringing it back. I'm excited."

This sale is in a contract, which has happened before and things didn't work out.

They're hopeful this time could finally be it.