99 S Front Redevelopment
Category: Projects
99 S Front Redevelopment
99 S Front St
Memphis, TN
The adaptive reuse of two attached historic buildings on Front Street. Prior to redevelopment, the building was blighted and structurally unsound, and it received a grant for emergency stabilization. The full renovation will include 112 apartment units, two commercial bays, and 61 underground parking spaces.
| Property Name | Joseph Oliver Building (Butchers Shop) |
|---|---|
| Project Cost | $23,321,782 |
| District | Core |
| Type | Renovation |
| Developer | Billy Orgel |
| SF Developed | 162,459 |
| Total MWBE | $6,813,764 |
| EBO Percent CTD | 0.50 |
| Status | Completed |
| Apartment Units | 112 |
| Parking Spaces | 61 |
| Retail SF | 5,295 |
| Approval Date | 2019-09-10 |
| Expected Completion | 2022 |
| Year Opened | 2022 |
PILOT Details
| Lessee | 99-105 Front Street, LLC |
|---|---|
| Lessee Address | 495 Tennessee Street, Suite 152 |
| Term | 19 Years |
| Approval Date | September 10, 2019 |
| Close Date | 9/30/2020 0:00:00 |
| Extension | 0 |
| Term Mos | 228.00 |
| Status From Date | Active |
| Expected Term Date | 9/30/2039 0:00:00 |
| Remaining PILOT Years | 14.81 |
| Pilot Documents | Instrument #21045465 September 30, 2020 - Corrected PILOT Lease Instrument #20106767 September 30, 2020 - Warranty deed assigning ownership to CCRFC |
CCDC Grant Details
| Grant Program | General Grant |
|---|---|
| Grant Recipient | Billy Orgel |
| Grant Amount | $650,406 |
| Grant Approval Date | January 16, 2019 |