MDN: Knoxville Hotel Group Buys Land Across From AutoZone Park
Vision Hospitality Group, a Knoxville-based hotel company, just purchased a vacant parcel of land across from AutoZone Park – possibly paving the way for a new Downtown hotel just blocks from Beale Street.
Nitinkumar B. Patel, Sandip Patel and Anita Patel sold the land, which formerly housed a Greyhound bus station, to Vision Hospitality, acting as Vison Memphis LLC, for $4 million, according to a warranty deed filed with the Shelby County Register of Deeds on March 24.
The purchase includes two adjacent tracts of land: a 1.3-acre lot at 195 Union Ave. and a 0.3-acre parcel facing Gayoso Avenue. The parcels were last appraised for a combined $850,000 by the Shelby County Assessor of Property in 2016.
The purchase comes almost three years to the day that Turkey Creek Hospitality completed the $1.7 million purchase of the 1.3-acre property. Nitinkumar “Nick” Patel is president of Turkey Creek.
At the time of that purchase, Patel told The Daily News his company was planning to bring a 140-room Hilton Garden Inn to the heart of Downtown Memphis.
The hotel originally had been scheduled to open in May 2016.
Prior to the 2014 purchase, Turkey Creek announced agreements to build a 118-room Hilton Garden Inn at Second Street and Linden Avenue, and a 300-room Hilton at Fourth Street and Linden, but neither project materialized.
And in September 2013, Turkey Creek Hospitality also acquired 235 Union Ave., a 186-space parking lot adjacent to the former Greyhound station, for $1.4 million and planned to develop a 115-room Holiday Inn Express at that site.