2035 Madison Mixed-Use Development
Category: Projects
2035 Madison Mixed-Use Development
2035 Madison Ave
Memphis, TN
A new mixed-use development near Overton Square in Midtown. The development includes two new buildings with 29 apartment units and 4,000 sq. ft. of commercial space.
| Project Cost | $6,662,200 |
|---|---|
| District | Outside CBID |
| Type | New Construction |
| Developer | Caruthers Group |
| Architect | Archimania |
| SF Developed | 22,400 |
| Status | Under Construction |
| Apartment Units | 29 |
| Parking Spaces | 50 |
| Retail SF | 4,000 |
| Approval Date | 2020-06-09 |
| Expected Completion | 2023 |
PILOT Details
| Lessee | Caruthers Group, LLC |
|---|---|
| Lessee Address | Caruthers Group, LLC, 2075 Madison Avenue, Memphis, TN 38104 |
| Term | 10 Years |
| Approval Date | June 9, 2020 |
| Close Date | 6/30/2021 0:00:00 |
| Extension | 0 |
| Term Mos | 120.00 |
| Status From Date | Active |
| Expected Term Date | 6/30/2031 0:00:00 |
| Remaining PILOT Years | 7.77 |
| Pilot Documents | Instrument #21080105 June 28, 2021 - Quit Claim to CCRFC Instrument #21080106 June 30, 2021 - PILOT lease |