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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 NameJoseph Oliver Building (Butchers Shop)
Project Cost$23,321,782
DistrictCore
TypeRenovation
DeveloperBilly Orgel
SF Developed162,459
Total MWBE$6,813,764
EBO Percent CTD0.50
StatusCompleted
Apartment Units112
Parking Spaces61
Retail SF5,295
Approval Date2019-09-10
Expected Completion2022
Year Opened2022

 

PILOT Details

Lessee99-105 Front Street, LLC
Lessee Address495 Tennessee Street, Suite 152
Term19 Years
Approval DateSeptember 10, 2019
Close Date9/30/2020 0:00:00
Extension0
Term Mos228.00
Status From DateActive
Expected Term Date9/30/2039 0:00:00
Remaining PILOT Years15.52
Pilot Documents
Instrument #20106767
September 30, 2020 - Warranty deed assigning ownership to CCRFC
Instrument #21045465
September 30, 2020 - Corrected PILOT Lease

CCDC Grant Details

Grant ProgramGeneral Grant
Grant RecipientBilly Orgel
Grant Amount$650,406
Grant Approval DateJanuary 16, 2019