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Peabody Falls

Category: Projects

Peabody Falls

2017 Peabody Ave
Memphis, TN

A redevelopment of the existing Peabody Falls apartment complex on Peabody Avenue in Midtown. The 28 existing units will be renovated, and 30 new units will be built on an adjacent parcel, bringing total apartment units to 58.

Sold to new developer. Initally approved for New Bridge Capital Advisors, LLC (Chase Carlisle).

Property NamePeabody Falls
Project Cost$7,007,310
DistrictOutside CBID
TypeRenovation & New Construction
DeveloperClarance Chapman
Apartment Units58
Approval Date2019-05-07
Expected Completion2024
Year Opened2024


PILOT Details

LesseePeabody Falls, LLC
Lessee Address5350 Poplar Ave. STE 205, Memphis, TN 38119
Term12 Years
Approval DateMay 7, 2019
Close Date6/30/2020 0:00:00
Term Mos144.00
Status From DateActive
Expected Term Date6/30/2032 0:00:00
Remaining PILOT Years8.01
Pilot Documents