Back from the dead: Downtown Convention Center Hotel

Sources tell us that meetings and discussions are underway with a Missouri developer [1] regarding a "four-star, 250 plus room hotel" to be constructed on the Worlds Fair site in the vicinity of the Clinch Street Viaduct, possibly at the site of the "Waters of the World" area near the Sunsphere.

According to documents [2] (PDF format) obtained by KnoxViews, elements of the proposed development include:

A 500 Space parking garage with 300 parking spaces reserved for the convention center and 200 parking spaces for the hotel.

A four-star, 250-plus-room hotel that will be constructed on the air rights over the garage.

Renovation and use of the Sunsphere for food and beverage services as part of the hotel development.

Lease of Convention Center space to the hotel for meetings and events.

Possible availability of Tax Increment Financing.

The hotel development may be an integral part of the World's Fair Park, University of Tennessee, Downtown Redevelopment, and the Convention Center.

The developer states that he has "experienced all kinds of situations on our various hotel developments in over 40 states." He also states that he "must negotiate a fair approach to both the city and ourselves."

There is some question as to who would build the parking garage. Sources tell us there may be an expectation that the city would provide some or all of the funding for this, but this is not confirmed.

Developing...