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The Cornerstone at Main Street Flats

Category: Projects

The Cornerstone at Main Street Flats

113 S Main St
Memphis, TN

Renovation of historic building on New Main with 15 loft apartments on floors 2-4; 5,000sf of commercial space on the ground floor; and 10 parking spaces in the basement

Property NameThe Cornerstone at Main Street Flats
DeveloperWexler, Orgel, and Slovis Partnership
ArchitectLooney Ricks Kiss
Apartment Units15
Retail SF5,000
Approval Date2003-05-13
Year Opened2003


PILOT Details

Lessee66-113 South Main, LLC
Lessee Address4091 Viscount Ave, Memphis, TN 38118
Term16 Years
Approval DateMay 13, 2003
Close Date8/15/2003 0:00:00
Term Mos198.00
Status From DateTerminated
Expected Term Date2/15/2020 0:00:00
Remaining PILOT Years0.00
Pilot Documents
Instrument #20054624
May 22, 2020 - Quit Claim dissolving PILOT
Instrument #03164431
August 15, 2003
Instrument #04195284
November 12, 2004 - Subordinated leasehold deed of trust and assignment of rents and leases
Instrument #10108571
October 14, 2010 - Assignment to Gayoso Partners
Instrument #15026826
March 20, 2015 - Assignment of lease to 66-113 South Main, LLC