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City staff outline Sherin–Marriott convention hotel renovation, bond plan and schedule
Summary
City officials and developers presented schematic design targets and a bond‑financing plan for a multi‑year renovation and conversion of the Sherin hotel to a Marriott convention hotel, including added ballrooms, suites and reoriented entry to better connect with the convention center; schematic designs due in April and construction is expected to begin in early 2027 with a target opening in 2029.
City leaders and private developers on Tuesday delivered a detailed update on plans to renovate and convert the Sherin hotel into a Marriott convention hotel adjacent to the Memphis Convention Center.
"Weclosed on the hotel in November," John Zena, the citychief of development and infrastructure, said. He and development partners said the project will reorient the hotel entrance to face the convention center, add roughly 32,000 square feet of meeting space (including a proposed 14,800‑square‑foot ballroom), replace aging mechanical and electrical systems and rebuild interior guestroom stock to better suit convention and sports business. Developers said the hotel would keep roughly 600 keys once renovations are complete, creating suites and new meeting footprints to attract high‑value group business.
Schematic design documents are due in April; the city plans to have a construction manager price the work in mid 2026 and begin construction in early 2027 with completion and reopening targeted in 2029. Developers told the council they are exploring a 501(c)(3) nonprofit bond issuance to finance construction, in which a nonprofit would sell bonds, own the hotel during the bond period and return proceeds or ownership benefits to the city after bond retirement.
"We're trying to work within a budget, and our hope is to get this ahead of schedule and under budget," a developer said, noting that much of the hotelwas built in phases and many core systems are at or beyond their useful life.
Council members asked about parking, ADA compliance and local contracting opportunities. Developers said parking will continue to rely on convention center garages and existing valet arrangements, ADA improvements are part of the Marriott property improvement plan, and subcontracting packages will be publicly bid with pre‑bid outreach to local and minority‑owned firms.
Officials said the renovation keeps the hotel open through construction and that the nonprofit bond structure is intended to limit direct fiscal exposure for the city while providing a long‑term path to city benefit when bond obligations are met.
Council committees accepted the update and requested further financial detail and vendor procurement plans as schematic and pricing progress.
