Historic Chisca Hotel Nears Grand Opening as Apartments
- May 18, 2015
A little over two years ago, Main Street Apartment Partners L.L.C. and Carlisle Corp. announced that they will be repositioning the century-old Chisca Hotel in Memphis as a multifamily project. Last week, the two companies celebrated their plans coming to fruition by announcing the launch of a new website and the start of the pre-leasing activity.
According to the Memphis Business Journal, the 32-unit motor court annex built in 1961 will be the first to open its doors this summer, followed by the original 9-story building, which has been slated for a fall opening. Upon completion, Chisca will features 161 one-, two- and three-bedroom units, as well as a few lofts and penthouses. Prices will range from $800 to $1,400 for one-bedroom units; $1,350 to $2,000 for two-bedroom units; and $2000 to $2,700 for three-bedroom units. Management of the property will be handled by LEDIC Management Group.
As Commercial Property Executive has reported, the Chisca hotel has sat empty since the late-nineties, when its previous owner, Church of God in Christ, moved its headquarters. There were several redevelopment projects proposed for the building, including tearing it down, but all plans were scrapped or put on hold because of the ’08 market crash.
Image Courtesy of LEDIC Realty Company