Now in the construction phase, One Beale is a project that will serve as a gateway to the Beale Street sports and entertainment district to connect the riverfront to what’s been called America’s most iconic street.
This skyline-transforming project on more than 5.5 riverfront acres will include a mixed-use, multi-parcel development featuring three hotels, residential and retail space, and a public parking garage. The total development amount is estimated at $225 million, with the first phase estimated at $130 million and expected to kick off in early 2019.
The first hotel planned will be a four-star Hyatt Centric — a boutique brand with hotels in Tokyo, Miami, San Francisco, New Orleans, and now Memphis. It will include 227 guest rooms and 15,000 square feet of conference and meeting space. The Hyatt Centric will feature a new riverfront restaurant, outdoor pool plaza and rooftop lounge with spectacular views of Downtown Memphis and the Mighty Mississippi River.
The historic Ellis Machine Shop, which was originally planned to be integrated into the Hyatt Centric, will be transformed into a 139-room boutique hotel. The historic façade of the building will be included in the hotel’s design.
One Beale will now also include a 20+ story Grand Hyatt Hotel. The $190 million project, which will be One Beale’s fourth phase of construction, will include 350 hotel rooms and 43,000 sq ft of meeting space.
One Beale’s luxury apartment building, The Landing, will offer 232 high-end living spaces to meet the growing demand for residential real estate in bustling Downtown Memphis. It will also include roughly 10,000 square feet of restaurant space.
The Memphis Convention and Visitor Bureau says Phase 1 of One Beale is expected to produce an economic impact of about $294 million dollars for the region.