Falls Building Redevelopment
Category: Projects
Falls Building Redevelopment
22 N Front St
Memphis, TN
The conversion of the Falls Building, a historic 11-story office building in the Downtown Core, into a multifamily building with ground floor retail. The renovated building will contain 170 Class A apartment units, 2,244 sq. ft. of ground floor retail space, and 12,525 sq. ft. of amenity space. Parking provided via lease with Metro 67 for 160 parking spaces.
| Property Name | Falls Building |
|---|---|
| Project Cost | $82,398,028 |
| District | Core |
| Type | Renovation |
| Developer | Left Lane Development |
| Contractor | Montgomery Martin |
| Architect | Earl Swenson & Associates |
| SF Developed | 156,000 |
| Status | Under Construction |
| Apartment Units | 175 |
| Retail SF | 2,244 |
| Approval Date | 2023-05-09 |
| Expected Completion | 2027 |
PILOT Details
| Lessee | Falls Building Property Owner, LLC |
|---|---|
| Lessee Address | c/o Left Lane Development, LLC, 827 Washington St., New York, NY 10014 |
| Term | 12 Years |
| Approval Date | May 9, 2023 |
| Close Date | 12/20/2024 0:00:00 |
| Extension Approval Date | 5/9/2025 0:00:00 |
| Extension | 0 |
| Term Mos | 144.00 |
| Status From Date | Active |
| Expected Term Date | 12/20/2036 0:00:00 |
| Remaining PILOT Years | 10.15 |
| Pilot Documents | Instrument #25001077 December 31, 2025 - PILOT lease agreement Instrument #25001076 December 31, 2025 - SW to CCRFC |