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.