Memphis village Awards Ground Lease Contract to Capstone Development (June 2024)
Memphis villageCity · NE- Disclosed value
- $34,958.31/year
- From agenda
- Approved
- Jun 20, 2024
- Term
- 30 years + 4x10 year options
The 30-second brief
City of Memphis approves a 30-year ground lease with Capstone Development, LLC for a 150-room hotel at The District @ Liberty Park. The lease includes four 10-year renewal options and a minimum rent of $34,958.31 per year, increasing by 4% every five years.
Capstone Development holds this ground lease contract with Memphis village. Its other public contracts on record include work for Town of Robinson and University Of South Florida-Sarasota-Manatee.
Term as filed: 30 years + 4x10 year options.
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Contract details
- Contract type
- Ground Lease
- Amount
- $34,958.31/year
- Document date
- June 20, 2024
- Term
- 30 years + 4x10 year options
- Vendor
- Capstone Development
- Agency
- Memphis village
- Source document
- memphis-parks-resolution-accelerate-memphis-bond-interest-reallocation-jun-20-2024_309.pdf (Agenda)
Capstone Development's other public contracts
More Memphis village contracts
Questions about this contract
Who was awarded the ground lease contract by Memphis village?
Capstone Development was awarded this ground lease contract by Memphis village, as recorded on June 20, 2024. The contract value is $34,958.31/year.
How much is the Capstone Development contract with Memphis village worth?
The Capstone Development contract with Memphis village is valued at $34,958.31/year, covering ground lease work.
What type of contract is this?
This is a Ground Lease contract, documented as a agenda record.
Where was this contract approved?
This contract appears in memphis-parks-resolution-accelerate-memphis-bond-interest-reallocation-jun-20-2024_309.pdf (Agenda), dated June 20, 2024 from Memphis village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Capstone Development hold?
Capstone Development may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Memphis village currently buying?
Explore Memphis village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.