Skip to Main Content

266 Memphis Lofts

Category: Projects

266 Memphis Lofts

266 S Front St
Memphis, TN

Mixed use development on 1.73 acre site with two residential buildings (75,980 SF and 60,174 SF), and a two-story commercial structure (8,000 SF). Project is split into two phases -- the first phase was completed in 2017, and purchased by Alpha 266 Properties, LLC. The second phase was completed in 2019, and was also purchased by Alpha 266.


Project Cost$17,862,245
DistrictSouth CBID
TypeNew Construction
Developer266 Developer, LLC
ArchitectRenaissance Group (Sal Feraci)
SF Developed144,154
Total MWBE$4,107,305
EBO Percent CTD1.00
StatusCompleted
Apartment Units145
Restaurant SF8,000
Approval Date2014-10-14
Year Opened2019

 

PILOT Details

LesseeAlpha 266 Properties, LLC
Lessee Address380 Southpointe Blvd, Plaza II Suite 325, Canonsburg, PA 15317, Attn: Jide Famuagun
Term10 Years
Approval DateOctober 14, 2014
Close Date9/12/2016 0:00:00
Extension Approval Date10/14/2017 0:00:00
Extension0
Term Mos120.00
Status From DateActive
Expected Term Date9/12/2026 0:00:00
Remaining PILOT Years1.95
Pilot Documents
Instrument #1609841
September 26, 2016 - Original Quitclaim to CCRFC
Instrument #16098542
September 26, 2016 - Original Lease
Instrument #18024546
March 9, 2018 - Assignment of Phase I to Alpha 266
Instrument #17099307
September 26, 2017 - Phase I lease split off from original lease

PILOT Details

LesseeAlpha 266 Properties, LLC
Lessee Address380 SouthPointe Blvd, Plaza II Suite 325, Canonsburg, PA, Attn: Jide Famuagun
Term10 Years
Approval DateOctober 14, 2014
Close Date9/12/2016 0:00:00
Extension Approval Date10/14/2015 0:00:00
Extension0
Term Mos120.00
Status From DateActive
Expected Term Date9/12/2026 0:00:00
Remaining PILOT Years1.95
Pilot Documents
Instrument #19038792
April 22, 2019 - Assignment to Alpha 266 Properties
Instrument #17099308
September 27, 2017 - Phase II Lease
Instrument #1609841
September 26, 2016

CCDC Loan Details

Loan ProgramDevelopment Loan
Loan Recipient266 Developer, LLC
Loan Amount$325,000
Loan Approval DateFebruary 18, 2015