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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
DistrictNorth CBID
TypeNew Construction
DeveloperAndre Jones & W.C. Jones, Jr. (Jones Urban Development)
SF Developed29,383
StatusUnder Construction
Apartment Units35
Approval Date2018-11-13
Expected Completion2021


PILOT Details

LesseeMalone Park Commons, LLC
Lessee Address516 Tennessee Street #123, Memphis, TN 38103
Term13 Years
Approval DateNovember 13, 2018
Close Date8/14/2020 0:00:00
Term Mos156.00
Status From DateActive
Expected Term Date8/14/2033 0:00:00
Remaining PILOT Years9.90
Pilot Documents
Instrument #20087882
August 14, 2020
Instrument #20087883
August 14, 2020

CCDC Grant Details

Grant ProgramGeneral Grant
Grant RecipientAndre Jones
Grant Amount$150,000
Grant Approval DateSeptember 14, 2022
Grant MWBE Est$0

CCDC Loan Details

Loan ProgramDevelopment Loan
Loan RecipientAndrew Jones & W.C. Jones, Jr
Loan Amount$300,000
Loan Approval DateNovember 14, 2018
Loan MWBE Est$516,879