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Update on two downtown projects
Update on two downtown projects
Posted on 01/24/2019
Statement from Chief Operating Officer Doug McGowen:

On May 8th, 2018, the City of Memphis, THM Memphis Acquisitions, LLC and Loews Hotel Holding Corporation entered into a Letter of Intent (LOI) regarding the Memphis Convention Center Hotel and the Gateway Redevelopment.  As we moved through the process and the original plans evolved, it became increasingly clear that having a joint agreement was not feasible due to the pace and complexity of the development envisioned for these projects. Today, all parties were made aware that the City was terminating the existing joint LOI, and instead will be issuing two individual LOIs: one for each project.  This in no way affects our commitment to either of these developments. This structure is simply better suited to realize the goals the City has associated with the convention center renovation and continued growth of Downtown Memphis.   
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