$26.5M apartment project planned Downtown
A vacant Downtown infill site is set to transform into new apartments.
Local real estate group NCE Realty, through its affiliate Riverview Plaza LLC, is requesting a 15-year payment-in-lieu-of-tax (PILOT) incentive from the Center City Revenue Finance Corp. (CCRFC), an affiliate of the Downtown Memphis Commission (DMC), for a $26.5 million project to turn an unused parking lot at 675 Riverside Drive into 137 apartments with 137 surface parking spaces.