South Junction Phase II
Category: Projects
South Junction Phase II
7 E Georgia 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 Name | South Junction Phase II |
|---|---|
| Project Cost | $8,100,000 |
| District | South CBID |
| Type | New Construction |
| Contractor | Montgomery Martin |
| Architect | LRK., Inc |
| SF Developed | 73,000 |
| Total MWBE | $1,672,178 |
| EBO Percent CTD | 1.00 |
| Status | Completed |
| Apartment Units | 84 |
| Approval Date | 2014-09-09 |
| Year Opened | 2015 |
PILOT Details
| Lessee | South Junction Partners II |
|---|---|
| Lessee Address | c/o Henry Turley Company, 65 Union Avenue, Suite 1200, Memphis, TN 38103 |
| Term | 13 Years |
| Approval Date | September 9, 2014 |
| Close Date | 8/14/2015 0:00:00 |
| Extension | 0 |
| Term Mos | 156.00 |
| Status From Date | Active |
| Expected Term Date | 8/14/2028 0:00:00 |
| Remaining PILOT Years | 3.88 |
| Pilot Documents | Instrument #15084774 August 14, 2015 Instrument #15081750 August 14, 2015 |