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The Landing Residences at One Beale

Category: Projects

The Landing Residences at One Beale

275 Front St
Memphis, TN

The residential portion of the One Beale project, which includes new-construction apartment buildings with 280 residential units, as well as a garage with 640 spaces and leasable retail space.


Property NameThe Landing Residences at One Beale
Project Cost$76,520,000
DistrictSouth CBID
TypeNew Construction
DeveloperCarlisle Corporation
StatusCompleted
Apartment Units280
Parking Spaces640
Retail SF13,200
Approval Date2015-07-14
Expected Completion2021
Year Opened2021

 

PILOT Details

LesseeThe Landing Residences, LLC
Lessee Address119 S. Main Street, Suite 800, Memphis, TN 38103
Term20 Years
Approval DateJuly 14, 2015
Close Date6/7/2019 0:00:00
Extension Approval Date5/29/2018 0:00:00
Extension0
Term Mos240.00
Status From DateActive
Expected Term Date6/7/2039 0:00:00
Remaining PILOT Years15.20
Pilot Documents
Instrument #21021327
January 1, 2021 - First lease amendment.

PILOT Details

LesseeParking Authority of the City of Memphis and County of Shelby, Tennessee
Lessee AddressThe Landing Residences, LLC, 119 S. Main Street, Suite 800, Memphis, TN 38103
Term20 Years
Approval DateJuly 14, 2015
Close Date6/7/2019 0:00:00
Extension0
Term Mos240.00
Status From DateActive
Expected Term Date6/7/2039 0:00:00
Remaining PILOT Years15.20
Pilot Documents
Instrument #21021328
January 1, 2021 - Lease amendment
Instrument #201906100056204
June 7, 2019 - Garage PILOT lease

CCDC Grant Details

Grant ProgramGeneral Grant
Grant RecipientFront Street DevCo, LLC
Grant Amount$987,100
Grant Approval DateDecember 19, 2018
Grant MWBE Est$246,775

DMA Incentive Details

Incentive ProgramDMA Funding
Incentive RecipientOne Beale, LLC
Incentive Amount$10,000,000
Incentive StatusClosed
Incentive Approval DateAugust 19, 2015
Incentive Approval Close DateJune 7, 2019