Tennessee Brewery Phase I
Category: Projects
Tennessee Brewery Phase I
501 Tennessee St
Memphis, TN
The mixed-use project involves renovating the existing building that originally housed the Tennessee Brewery, constructing an addition just to the north, and partnering with the CCRFC and the Downtown Parking Authority (DPA) to build a parking garage on a separate parcel ( 11 E. Butler Ave.) to the east.
| Property Name | Tennessee Brewery |
|---|---|
| Project Cost | $28,112,981 |
| District | South CBID |
| Type | Renovation & New Construction |
| Developer | 495 TN Partners |
| Contractor | Montgomery Martin |
| Architect | LRK |
| SF Developed | 207,092 |
| Total MWBE | $8,379,160 |
| EBO Percent CTD | 1.00 |
| Status | Completed |
| Apartment Units | 148 |
| Office SF | 13,500 |
| Parking Spaces | 339 |
| Approval Date | 2015-05-12 |
| Year Opened | 2017 |
PILOT Details
| Lessee | 495 Tennessee Partners |
|---|---|
| Lessee Address | 4091 Viscount Ave, Memphis, TN 38118 |
| Term | 20 Years |
| Approval Date | May 12, 2015 |
| Close Date | 3/8/2016 0:00:00 |
| Extension | 0 |
| Term Mos | 240.00 |
| Status From Date | Active |
| Expected Term Date | 3/8/2036 0:00:00 |
| Remaining PILOT Years | 11.24 |
| Pilot Documents | Instrument #16021991 March 8, 2016 - Original lease Instrument #17017405 February 8, 2017 - Amendment to Sublease |
DMA Incentive Details
| Incentive Program | DMA Funding |
|---|---|
| Incentive Recipient | 495 Tennessee LLC |
| Incentive Amount | $5,191,125 |
| Incentive Approval Date | May 20, 2015 |