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Crosstown Concourse (Sears)

Category: Projects

Crosstown Concourse (Sears)

495 Watkins St
Memphis, TN

Renovation and repurposing of historic 10-story building (14 stories at the tower) located on approximately 16 acres of land into a mixed-use vertical village that would include approximately 600,000 square feet of office space (includes health and educational uses), 63,000 square feet of retail space, 260 residential rental units, 1,130 space parking garage, surface parking, exhibition space, and other common areas.

Property NameCrosstown Concourse (Sears)
Project Cost$200,000,000
DistrictOutside CBID
DeveloperCrosstown LLC
SF Developed1,100,000
Total MWBE$43,661,944
EBO Percent CTD1.00
Apartment Units260
Office SF600,000
Parking Spaces1,130
Retail SF63,000
Approval Date2013-10-10
Year Opened2017


PILOT Details

LesseeCrosstown Building Owner, LLC
Lessee Address8700 Trail Lake West, Memphis, TN 38125
Term20 Years
Approval DateOctober 10, 2013
Close Date12/30/2014 0:00:00
Extension Approval Date11/11/2014 0:00:00
Term Mos240.00
Status From DateActive
Expected Term Date12/30/2034 0:00:00
Remaining PILOT Years10.51
Pilot Documents
Instrument #15106534
October 21, 2015 - Merger of entities
Instrument #14130533
December 30, 2014