Pyramid now scheduled to open as Bass Pro superstore - Action News 5 - Memphis, Tennessee

Pyramid now scheduled to open as Bass Pro superstore

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MEMPHIS, TN -

(WMC-TV) - The chatter surrounding Bass Pro moving into The Pyramid has been going for quite a while now. The talk is getting louder now that new city documents point to more than just a superstore inside the Memphis landmark.

Preliminary talks reportedly began in 2005, a tentative agreement was signed in 2008, and now almost a decade after the first talks began, The Pyramid is scheduled to open its doors as a Bass Pro superstore in 2014.

City documents show an ambitious schedule to finish the project. Memphis City leaders are hopeful the area and building will once again become a tourist destination.

Memphis City Councilman Myron Lowery said it will have a sky ride and the rooftop will be transformed into a restaurant. There will even be a hotel that will have "cabins" inside the pyramid.

Those plans are in addition to a bowling alley, aquarium, and plenty of retail space for Bass Pro Shops.

According to newly revealed documents, the transformation will be complete in August 2014 and culminate with the grand opening in December 2014.

Sales taxes, not property tax, will be paying for much of the project.

Bass Pro signed a 20 year lease. It is expected to pay at least $1 million in rent each year, but it could be as high as $2.5 million annually based on revenues from the restaurant and hotel inside the building.

Councilman Lowery says Bass Pro Shops will be a catalyst for future development in the Pinch District.

Delays have been common in the redevelopment of The Pyramid, so there are skeptics who do not expect it to open next year. However, city documents say Bass Pro Shops will open in December 2014.

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