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 Name | The Cornerstone at Main Street Flats |
|---|---|
| District | Core |
| Type | Renovation |
| Developer | Wexler, Orgel, and Slovis Partnership |
| Architect | Looney Ricks Kiss |
| Status | Completed |
| Apartment Units | 15 |
| Retail SF | 5,000 |
| Approval Date | 2003-05-13 |
| Year Opened | 2003 |
PILOT Details
| Lessee | 66-113 South Main, LLC |
|---|---|
| Lessee Address | 4091 Viscount Ave, Memphis, TN 38118 |
| Term | 16 Years |
| Approval Date | May 13, 2003 |
| Close Date | 8/15/2003 0:00:00 |
| Extension | 0 |
| Term Mos | 198.00 |
| Status From Date | Terminated |
| Expected Term Date | 2/15/2020 0:00:00 |
| Remaining PILOT Years | 0.00 |
| Pilot Documents | Instrument #04195284 November 12, 2004 - Subordinated leasehold deed of trust and assignment of rents and leases Instrument #15026826 March 20, 2015 - Assignment of lease to 66-113 South Main, LLC Instrument #03164431 August 15, 2003 Instrument #10108571 October 14, 2010 - Assignment to Gayoso Partners Instrument #20054624 May 22, 2020 - Quit Claim dissolving PILOT |