New hotel in Overton Square to take shape this fall

MEMPHIS, Tenn. — Construction is expected to begin in November on a new boutique hotel in Overton Square, Loeb Properties said in a release Tuesday.

The 109-room hotel is slated to be built on Cooper Street just north of the Hattiloo Theater and will be branded under Marriott's brand Tribute Portfolio.

As for employees, the agency says the hotel would be expected to bring in 65 jobs.

In September of 2017, Loeb Properties applied and received a pilot. It landed a $6 million tax break for the $24 million hotel plan.

The agency says the tax break was necessary for this area in order to have a hotel there.

Loeb says the architecture is "designed to match the Square’s unique architectural style with high-end finishes that incorporate local historic imagery." Indoor and outdoor food service on the ground level and rooftop is planned.

We talked to the planning director of the Office of Planning and Development. He says the site plan application needs to be reviewed first before approval.

People in the neighborhood seem to think it will be a good addition to the area.

"I think it's good for tourism. I think it's good maybe for the area and jobs," a resident said.

The City Council will vote on this by late September or early October.

Loeb submitted plans to the Office of Planning and Development on Monday. The company has set a grand opening for the hotel in the first quarter of 2020.