Summary
Two historic downtown buildings vacant since the early 2000s would become a $74 million, 150-room boutique hotel near the convention center. Metro would rebate part of the new property tax generated — about $3.76 million over 20 years — but keeps more than if the buildings stayed empty.
At a glance
- Total mentions
- 3
- Last 30 days
- 0
Last discussed Jul 30, 2026.
Impact analysis
Metro rebates up to about $3.76 million in new property tax over 20 years but nets over $1.5 million more than the ~$610,000 the vacant buildings now generate.
Downtown businesses, convention-center visitors, and fans of historic preservation gain an activated block; the developer gets gap financing.
A portion of new property tax revenue that could fund other services is diverted to the developer for 20 years.
Mentions & discussions (3)
Metro Council — July 30, 2026
A 20-year TIF will help convert the vacant historic Landmark building downtown into a hotel with $74 million in private investment — filling the gap between the Marriott, Omni and proposed JW Marriott. Critics objected to subsidizing hotels instead of housing.
Labor and Economic Development Committee — July 21, 2026
Two historic downtown buildings vacant since the early 2000s would become a $74 million, 150-room boutique hotel near the convention center. Metro would rebate part of the new property tax generated — about $3.76 million over 20 years — but keeps more than if the buildings stayed empty.
Development Review Committee — June 17, 2026
The old Fifth Third tower becomes a 414-room hotel with a new ballroom and redesigned street-level facade — a big boost for downtown activity.
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