Pinch District developers awarded 30-year PILOT for new hotel and mixed-use development

Pinch District Update

MEMPHIS, Tenn. (WMC) - Is the Pinch District the next big thing in Memphis?

Developers are looking to make it so thanks to a major tax abatement.

The Pinch District is the area between St. Jude Children’s Research Hospital and the Pyramid.

On Monday, the Center City Revenue Finance Corporation approved a 30-year PILOT for 18 Main LLC to develop an area on North Front Street and a half-block between Main and Second.

Memphis, Shelby County and Tennessee officials must still sign off on the PILOT.

The plan includes a boutique-style hotel along with apartment, office and retail space.

If they get the OK, developers want to start construction on the $600 million project in 2021.

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