400 S Main St
Category: Projects
400 S Main St
400 S Main St
Memphis, TN
A renovation project that will convert a building previously used as a single family home into a mixed-use building with 18 apartments and 3 retail bays on the ground floor. The developer plans to rent out the apartments via short-term rental services like AirBNB, with the option of converting to traditional apartment rentals.
| Project Cost | $4,811,794 |
|---|---|
| District | South CBID |
| Type | Renovation |
| Developer | Blue Suede Properties (Kenny Lipshutz) |
| Architect | Arch Inc. |
| SF Developed | 30,600 |
| Status | Completed |
| Apartment Units | 18 |
| Parking Spaces | 18 |
| Retail SF | 3,500 |
| Approval Date | 2020-01-14 |
| Expected Completion | 2021 |
| Year Opened | 2021 |
PILOT Details
| Lessee | Blue Suede Properties, LLC |
|---|---|
| Lessee Address | 24 Washington Square North, New York, NY 10011 |
| Term | 15 Years |
| Approval Date | January 14, 2020 |
| Close Date | 7/30/2020 0:00:00 |
| Extension | 0 |
| Term Mos | 180.00 |
| Status From Date | Active |
| Expected Term Date | 7/30/2035 0:00:00 |
| Remaining PILOT Years | 10.84 |
| Pilot Documents | Instrument #20079580 July 30, 2020 - PILOT lease Instrument #20079579 July 30, 2020 - Quitclaim to CCRFC |