Malone Park Commons
Category: Projects
Malone Park Commons
97 Saffarans Ave
Memphis, TN
A 35-unit "pocket neighborhood" development in uptown, with a variety of attached and detached residential units, ranging from studios to 2-bedroom cottages.
| Project Cost | $3,081,992 |
|---|---|
| District | North CBID |
| Type | New Construction |
| Developer | Andre Jones & W.C. Jones, Jr. (Jones Urban Development) |
| SF Developed | 29,383 |
| Status | Under Construction |
| Apartment Units | 35 |
| Approval Date | 2018-11-13 |
| Expected Completion | 2024 |
PILOT Details
| Lessee | Malone Park Commons, LLC |
|---|---|
| Lessee Address | 516 Tennessee Street #123, Memphis, TN 38103 |
| Term | 13 Years |
| Approval Date | November 13, 2018 |
| Close Date | 8/14/2020 0:00:00 |
| Extension | 0 |
| Term Mos | 156.00 |
| Status From Date | Active |
| Expected Term Date | 8/14/2033 0:00:00 |
| Remaining PILOT Years | 8.68 |
| Pilot Documents | Instrument #20087883 August 14, 2020 Instrument #20087882 August 14, 2020 |
CCDC Grant Details
| Grant Program | General Grant |
|---|---|
| Grant Recipient | Andre Jones |
| Grant Amount | $150,000 |
| Grant Status | Closed |
| Grant Approval Date | September 14, 2022 |
| Grant Approval Close Date | December 1, 2023 |
| Grant MWBE Est | $0 |
CCDC Loan Details
| Loan Program | Development Loan |
|---|---|
| Loan Recipient | Andrew Jones & W.C. Jones, Jr |
| Loan Amount | $300,000 |
| Loan Status | Closed |
| Loan Approval Date | November 14, 2018 |
| Loan Approval Close Date | December 1, 2023 |
| Loan MWBE Est | $516,879 |