MEMPHIS, TN (WMC) - Plans to bring a one-of-a-kind hotel to Overton Square by 2020 inched forward this week with Loeb Properties and two other firms submitting plans for the hotel to the Office of Planning and Development.
If plans are approved, a number of free parking spots in the area will disappear this fall to make room for Midtown's first high-end boutique hotel.
"I love free parking. I need free parking. Free parking is everything to me," Joshua Myers said.
"Always nice to have at least one free parking zone," John Grillo said.
But the Overton Square free parking zone's days could be limited because the plans to build a multi-million dollar boutique hotel in place of it are moving forward.
"Nothing but positive for us. I mean, it's more people coming into the Square staying just a couple of feet away from our business," Jerry Micey, who owns Sweet Noshings, said.
The proposed hotel would include more than 100 guest rooms, indoor and outdoor food places, and a rooftop bar.
Business owners said parking can be a hassle, but a hotel in Overton Square is long overdue.
"It's like any other big city. You just have to find other ways to get to the destinations you're looking for," David Lindsey, manager of Robata Ramen and Yakitori Bar, said.
Construction is scheduled to start by November of this year; it should be completed in 2020.
WMC Action News 5's Allie Herrera reached out to Loeb Properties to ask about the parking situation at the hotel, but she did not hear back.
The parking garage in Overton Square will remain after the hotel is built. That parking garage offers free parking during the day until 6 p.m.