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VOL. 132 | NO. 192 | Wednesday, September 27, 2017

Work on Former Benchmark Hotel Finally Moving Forward

By Patrick Lantrip

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(Patrick Lantrip/Memphis Daily News) 

For almost two years, the exposed five-story frame of the former Benchmark Hotel in Downtown Memphis stood in somber contrast to the vibrant landmarks, such as the Peabody Hotel and AutoZone Park it shares the corner of Union Avenue and B.B. King Boulevard with.

However, that all may soon change.

On Tuesday, Nashville-based owners Epiq Hotels, operating under the name MNR Hospitality LLC, have added a new signage along the building’s exterior that lay out their plans.

The words “Opening 2019” can be seen next to a rendering of the soon-to-be Fairfield Inns and Suites. The new signage also names the project’s contractors as Cleveland Construction and Pinnacle South as the financier.

In December of 2012, MNR bought the 103,152-square-foot hotel for $3.2 million from RHG Memphis Hotel Inc.

Four years later, the new owners began a partial demolition of the site, before running into financial issues that ended up stalling the project.

Originally built in 1958, what’s left of the hotel sits on roughly half an acre, and was appraised for $1.4 million in 2017, which is around $300,000 less than when it was purchased.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 63 441 6,018
MORTGAGES 72 450 6,721
FORECLOSURE NOTICES 0 45 946
BUILDING PERMITS 0 652 13,313
BANKRUPTCIES 0 1,045 4,093
BUSINESS LICENSES 32 180 2,813
UTILITY CONNECTIONS 0 88 1,741
MARRIAGE LICENSES 32 126 1,180