One Beale (new) |Grand Hyatt, Hyatt Centric hotel, Caption by Hyatt hotel, apartments

[TheKernel91]

Carlisle is the real issue. I do wonder if the father was still alive would this be a issue at all now

[Memphisborn]

4 minutes ago, TheKernel91 said:

Carlisle is the real issue. I do wonder if the father was still alive would this be a issue at all now

It’s a power play for more city money. Strickland was on radio this morning. Stated if the developer needs 5 million, pay it out of there pocket the city has paid enough. 

[DowntownUrbanite]

4 hours ago, TheKernel91 said:

Carlisle is the real issue. I do wonder if the father was still alive would this be a issue at all now

The Carlisle’s need to step up with 5 million of their own money, and if they need to, take back the shady 1.5 million donation to the MRPP to get it done. The City has bent over backwards for them with the multiple parking garages, tax breaks, and other incentives. 

Edited November 3, 2022 by DowntownUrbanite

[MDC26]

21 hours ago, VSRJ said:

I hate to be a pessimist (especially since there is so much pessimism in Memphis), but this is why I don't get excited about projects until they are well off the ground. We've been burned too many times.

I love Memphis. But from a development/progress perspective, it can be so frustrating and bleak. 

Even well off the ground isn't a guarantee.  Remember the Horizon/Artesian?  Had already topped out before that fell through and just sat there uncompleted for years.  

[VSRJ]

49 minutes ago, MDC26 said:

Even well off the ground isn't a guarantee.  Remember the Horizon/Artesian?  Had already topped out before that fell through and just sat there uncompleted for years.  

That's exactly what I thought about after I posted that reply. But it was a bit of a special circumstance given the Great Recession. But yet, still a possibility in any economic environment.

[BnaBreaker]

Developers probably just think that they can basically extort the city of Memphis for more money, because they think the city of Memphis is desperate for their project to be built.  Time to shut the door on that notion for good.  Tell this Carlisle asshole to put up his fair share or take a hike.  

[jjbradleyBrooklyn]

Man, oh man.

This absolutely speaks volumes as to why Memphis' developments stall and fizzle out.

If Memphis cannot get just ONE brand new 20 story high-rise hotel built downtown, they cannot get any other new development built, either. 

When other cities have a much easier time building relatively fast new development in their downtowns, Memphis lags behind. 

The leaders there should only look to themselves as to why Memphis sits stagnant. Bummer!

 

Edited November 3, 2022 by jjbradleyBrooklyn

[Memphisborn]

1 hour ago, jjbradleyBrooklyn said:

Man, oh man.

This absolutely speaks volumes as to why Memphis' developments stall and fizzle out.

If Memphis cannot get just ONE brand new 20 story high-rise hotel built downtown, they cannot get any other new development built, either. 

When other cities have a much easier time building relatively fast new development in their downtowns, Memphis lags behind. 

The leaders there should only look to themselves as to why Memphis sits stagnant. Bummer!

 

Good point it’s embarrassing 

[JTM1]

6 hours ago, jjbradleyBrooklyn said:

Man, oh man.

This absolutely speaks volumes as to why Memphis' developments stall and fizzle out.

If Memphis cannot get just ONE brand new 20 story high-rise hotel built downtown, they cannot get any other new development built, either. 

When other cities have a much easier time building relatively fast new development in their downtowns, Memphis lags behind. 

The leaders there should only look to themselves as to why Memphis sits stagnant. Bummer!

 

Memphis isn't stagnate, because there's new development and redevelopment happening all across the city. This hotel will happen, because Paul Young, president of the DMC, stated yesterday they are working with Carlise to make sure the project moves forward. 

[JTM1]

On 11/2/2022 at 4:44 PM, BnaBreaker said:

Absolutely unreal.

One Beale's Grand Hyatt won't happen because of city's delays, developer says. Memphis disputes it

https://www.commercialappeal.com/story/news/2022/11/02/one-beale-grand-hyatt-wont-happen-developer-says/69614441007/

This deal isn't dead and it's going to happen. 

[VSRJ]

Memphis excels at adaptive reuse (Crosstown) and smaller-scale developments (everything Downtown in the last 10 years). Large-scale projects like this are what's most challenging — and the most pricey.

[MDC26]

9 hours ago, JTM1 said:

This deal isn't dead and it's going to happen. 

I hope so.  The bickering and blame game back and forth doesn't look good.  I don't know whose fault it is, or if its even anyone's fault.  Could be just a victim of the economic environment, or the slow gears of governmental process.   I don't even know how common it is in Memphis or other cities for the city to grant money and backstop projects.  I get all the incentives with providing infrastructure, PILOTS, TDZ, TIF's and so forth.  But to just hand over money or guarantee their debt seems like it's not as common of a practice.  

[Ohsomemphis]

13 hours ago, JTM1 said:

This deal isn't dead and it's going to happen. 

Just walked by the Grand Hyatt construction site. Still major work going on with lots of crew there. Very confused as i thought it was brought to a Halt.

[VSRJ]

Maybe they have to get the site to a certain stage for safety reasons?

[Memphis4ever]

The good news is the banners are still up and workers are still working at the site.  Maybe they will finish the retaining wall before finishing.  I do feel that Carlisle will not let this fall through as Hyatt has already invested in the other 2 hotels.  What is 5 million on a 150 plus million dollar development.

[JTM1]

On 11/4/2022 at 9:30 AM, MDC26 said:

I hope so.  The bickering and blame game back and forth doesn't look good.  I don't know whose fault it is, or if its even anyone's fault.  Could be just a victim of the economic environment, or the slow gears of governmental process.   I don't even know how common it is in Memphis or other cities for the city to grant money and backstop projects.  I get all the incentives with providing infrastructure, PILOTS, TDZ, TIF's and so forth.  But to just hand over money or guarantee their debt seems like it's not as common of a practice.  

Your hope will be dashed, because it's not dead. We wouldn't know about the bickering and back and forth if this wasn't leaked to the press. 

[JTM1]

22 hours ago, Ohsomemphis said:

Just walked by the Grand Hyatt construction site. Still major work going on with lots of crew there. Very confused as i thought it was brought to a Halt.

It's gong to continue. When Paul Young say the deal is dead, then I will believe it, but he's saying the opposite, because everyone realize how important it is for the city.  

[MDC26]

3 hours ago, JTM1 said:

Your hope will be dashed, because it's not dead. We wouldn't know about the bickering and back and forth if this wasn't leaked to the press. 

My hope was that it’s going to happen

[jjbradleyBrooklyn]

23 hours ago, JTM1 said:

It's gong to continue. When Paul Young say the deal is dead, then I will believe it, but he's saying the opposite, because everyone realize how important it is for the city.  

I hope you are indeed right! 

Memphis needs this hotel to finish and come through.

After losing the Loews hotel development, this one was considered "a sure thing."

Not onlydoes this need to complete in order to finish the long-planned, much-anticipated and talked about "One Beale" development, but to inject confidence into the city of Memphis and potential developments to come, that new developments can happen, and the city works together with the dev team to make sure progress continues.

 

Edited November 6, 2022 by jjbradleyBrooklyn

[MDC26]

I keep seeing these articles, calling it a convention center hotel, it’s not. It’s 0.8 miles from the convention center. That is not a distance that someone going to a convention wants to stay unless it’s to save a lot of money.  I just went to a convention. My convention center hotel was 354 feet away. The other was 0.1 miles. I had a buddy that stayed at a hotel 0.9 miles away. It was not convenient for him. The Sheraton is a Convention Center Hotel. Even the Crowne could be considered a convention center hotel. 
 

Im sure this site will sit empty for at least couple years now. 

[VSRJ]

I’m starting to think this site might just be cursed.

Anyone remember the Landry’s that once stood there (before it was converted into a Joe’s Crab Shack)? Let’s just bring that back.

[MDC26]

7 hours ago, VSRJ said:

I’m starting to think this site might just be cursed.

Anyone remember the Landry’s that once stood there (before it was converted into a Joe’s Crab Shack)? Let’s just bring that back.

I remember as a kid, going to Captain Bilbo's (before it was Landry's)

Edited November 8, 2022 by MDC26

[DowntownUrbanite]

9 hours ago, VSRJ said:

I’m starting to think this site might just be cursed.

Anyone remember the Landry’s that once stood there (before it was converted into a Joe’s Crab Shack)? Let’s just bring that back.

I think it’s just the developer. Over promising and under delivering has been their motto. If the Carlisle’s don’t pull this off, Chase may not have a chance at re-election because the citizens are losing respect. The City has provided $300 million in incentives, that is extremely generous. https://wreg.com/news/local/developer-upset-memphis-losing-convention-center-hotel-grand-hyatt-dead/

[DowntownUrbanite]

One more thing, when the developer comes back with a mediocre plan for more mid-rise stick construction apartments, we as a City should say No!

[jjbradleyBrooklyn]

13 minutes ago, DowntownUrbanite said:

I think it’s just the developer. Over promising and under delivering has been their motto. If the Carlisle’s don’t pull this off, Chase may not have a chance at re-election because the citizens are losing respect. The City has provided $300 million in incentives, that is extremely generous. https://wreg.com/news/local/developer-upset-memphis-losing-convention-center-hotel-grand-hyatt-dead/

And also, the One Beale Street development has been discussed, talked about and planned since roughly 2004. 

It is amazing to finally see it built (well, the majority of it). 

This last hotel piece is the "crowning jewel" of One Beale. 

I just don't understand why the Carlisle Group - and the city - would let an amount of $5 million dollars cause this development to just stop. There has to be some emotional issue (anger maybe?) from one side or the other causing them to just say "OK that's it! We are done." 

Because for negotations now to cease (from what we see not behind the scenes), that is very odd. Especially for such a high profile development in Memphis.

And also, I'll add a few experiences from my work history--

I used to work in real estate rentals and sales here in Brooklyn from 2003 to 2008. Whenever any new development or redevelopment suddenly halted or stopped or it was just canceled, it was always - always - due to anger or frustration from the development team, over money or constant issues with other development partners or the city. 

There was always a long and storied reason behind why it would halt, and consisted of either of these reasons:  bickering/emotional situation and attachment/baggage/not enough money.

So, I say that, to say there's definitely a long tense and roller coaster history causing this sudden stop. 

Edited November 8, 2022 by jjbradleyBrooklyn