Grand Hyatt hotel funding downtown Memphis falls short
The municipal bonds that were expected to price at $46 million instead priced at about $41 million, leaving a $5 million shortfall for the project.
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The municipal bonds that were expected to price at $46 million instead priced at about $41 million, leaving a $5 million shortfall for the project.
Chance Carlisle, the project's developer, said Wednesday that the Grand Hyatt, the planned convention center hotel at One Beale, won't move forward.
The bluff was dedicated as the Carlisle Cutbank Bluff Thursday evening after a $1.5 million investment by Carlisle Corp. in the park.
The bluff was dedicated as the Carlisle Cutbank Bluff Thursday evening after a $1.5 million investment by Carlisle Corp. in the park.
Days after Carlisle Corp. received approval for a $10 million loan from Memphis, the developer had a piece of Tom Lee Park named after it.