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South Junction Phase I

Category: Projects

South Junction Phase I

9 E Carolina Ave
Memphis, TN

Originally new construction of 197 apartments with 264 on-site parking spaces on two parcels at the intersection of Carolina and Florida at a cost of $17.6M. After developer was able to acquire adjacent lots, project was expanded to be 281 apartments at a cost of $26.1M.

Property NameSouth Junction
Project Cost$18,000,000
DistrictSouth CBID
TypeNew Construction
DeveloperHenry Turley; Billy Orgel
ContractorMontgomery Martin
ArchitectLRK, Inc.
SF Developed178,680
Total MWBE$3,808,449
EBO Percent CTD1.00
Apartment Units197
Parking Spaces264
Approval Date2013-06-11
Year Opened2014


PILOT Details

LesseeSouth Junction Partners
Lessee Addressc/o Henry Turley Company, 65 Union Avenue, Suite 1200, Memphis, TN 38103
Term15 Years
Approval DateJune 11, 2013
Close Date8/14/2013 0:00:00
Term Mos180.00
Status From DateActive
Expected Term Date8/14/2028 0:00:00
Remaining PILOT Years4.13
Pilot Documents
Instrument #13105473
August 27, 2013 - Initial lease of Phase I only