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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 NameTennessee Brewery
Project Cost$28,112,981
DistrictSouth CBID
TypeRenovation & New Construction
Developer495 TN Partners
ContractorMontgomery Martin
ArchitectLRK
SF Developed207,092
Total MWBE$8,379,160
EBO Percent CTD1.00
StatusCompleted
Apartment Units148
Office SF13,500
Parking Spaces339
Approval Date2015-05-12
Year Opened2017

 

PILOT Details

Lessee495 Tennessee Partners
Lessee Address4091 Viscount Ave, Memphis, TN 38118
Term20 Years
Approval DateMay 12, 2015
Close Date3/8/2016 0:00:00
Extension0
Term Mos240.00
Status From DateActive
Expected Term Date3/8/2036 0:00:00
Remaining PILOT Years11.95
Pilot Documents
Instrument #16021991
March 8, 2016 - Original lease
Instrument #17017405
February 8, 2017 - Amendment to Sublease

DMA Incentive Details

Incentive ProgramDMA Funding
Incentive Recipient495 Tennessee LLC
Incentive Amount$5,191,125
Incentive Approval DateMay 20, 2015