Developers have applied for a tax break to build a five-story, 120-key hotel on Beale Street, at the site of the former Club Crave.
A 15-year PILOT (payment-in-lieu-of-taxes) was requested for new construction at 380 Beale Street. TCH Memphis LLC submitted the application with the Center City Revenue Finance Corp. (CCRFC), an affiliate board of the Downtown Memphis Commission.
The total development cost is estimated at $16.1 million, according to CCRFC documents. Hard costs are estimated at $10.5…
