Progress of possible Graceland growth moving slowly - WMC Action News 5 - Memphis, Tennessee

Reported by Nick Kenney

Progress of possible Graceland growth moving slowly

MEMPHIS, TN (WMC-TV) - As the home of Elvis Presley, Graceland is already a major tourist attraction for the city of Memphis.  But will it grow again?

For years, a company known as CKX has been drawing up plans to transform Graceland and Elvis Presley Boulevard with a new hotel and convention center, as well as restaurants and shops.

While the grand plan for Graceland has never been made totally public, the whispers are nothing new: Will the money ever fall into place?

For the project to happen, city, county, and state governments must approve it. The previous Memphis City Council even heard the proposal.

In all, the investment would total somewhere between $150 and $250 million. Officials say CKX has been trying to secure funds and financing for the project, but the company's efforts recently hit a major snag when its plans to merge with another company fell through.

So where does the Graceland expansion stand now?  Current City Council members and County Commissioners say they haven't heard any fresh proposals lately, but they're still in favor of upgrades at Graceland.

"What they were talking about seemed like it would be really good for economic development in Memphis, and my hope is that somehow the company finds a way to go forward with at least some limited expansion of the Graceland facility," Shelby County Commissioner Steve Mulroy said Monday.

Officials say it will most likely be a long time before we know if anything's going to happen, and even longer before the changes are visible.

Click here to send an email to Nick Kenney.

Powered by Frankly