» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 6 | NO. 18 | Saturday, April 27, 2013

Carlisle Joins Chisca Project

By Bill Dries

Print | Front Page | Email this story | Email reporter | Comments ()

The partners developing the old Chisca hotel on South Main as apartments announced at a Friday, April 26, project launch that Carlisle Corporation is the main partner for the project.

Founder Gene Carlisle was at the event in the motor court entrance of the newer part of the hotel to formally open construction work on the $24 million project.

Carlisle has a long history with Downtown development and is known primarily for his development of Number One Beale, the commercial development at Beale Street and Riverside Drive that included Captain Bilbo’s restaurant and bar which opened in the late 1970s. He was also the original developer selected for the Beale Street entertainment district.

The Carlisle Corporation signed on to the Chisca project just last week. Carlisle said the eight-story hotel and its “motor plaza” annex are a crucial location in further developing the South Main district.

Gary Prosterman of Main Street Apartment Partners LLC said the Chisca will be 165 apartments with the renovation completed in about 14 months. There will be 115 one-bedroom apartment and another 50 two-bedroom units as well as 10 townhouses on the property. The rents will range from $700 to $1,500 a month, according to Prosterman.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 114 332 10,554
MORTGAGES 119 412 13,739
FORECLOSURE NOTICES 0 68 2,712
BUILDING PERMITS 522 915 25,222
BANKRUPTCIES 80 264 10,156
BUSINESS LICENSES 16 78 3,814
UTILITY CONNECTIONS 92 430 14,987
MARRIAGE LICENSES 15 83 3,250

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.