Beale Street building to be transformed into Memphis music center

Priscilla Presley waves to the crowd at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and reveal long-term plans for the site in Downtown Memphis, on Thursday, March 28, 2024.

A tarp that says “coming soon” is dropped to reveal a sign announcing the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Priscilla Presley looks out at the crowd at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Hal Lansky, co-owner of Lanky Bros. and son of Bernard Lansky, one of the founders, speaks at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Priscilla Presley waves goodbye to the crowd after speaking at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Memphis businessman and Gibson Companies CEO J.W. Gibson speaks an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Rock 'n' Soul Inc. President John Doyle speaks at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Priscilla Presley says hello to Memphis as she begins to speak at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Priscilla Presley waves to the crowd after speaking at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Kevin Kane, president and CEO of Memphis Tourism, speaks with Hal Lansky, co-owner of Lanky Bros. and son of Bernard Lansky, one of the founders, at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Kevin Kane, Memphis Tourism president and CEO, speaks at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

An audience member films Priscilla Presley with a phone that has a sticker of Lisa Marie Presley on the case at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Memphis businessman and Gibson Companies CEO J.W. Gibson speaks at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.

Priscilla Presley says hello to Memphis as she begins to speak at an event to celebrate the purchase of the building at 126 Beale St. by Memphis Rock ’n’ Soul Inc. and to announce plans for it to become the permanent home of the Rock 'n' Soul Museum and Memphis Music Hall of Fame in Downtown Memphis, on Thursday, March 28, 2024.