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 Name	The Landing Residences at One Beale
Project Cost	$76,520,000
District	South CBID
Type	New Construction
Developer	Carlisle Corporation
Status	Completed
Apartment Units	280
Parking Spaces	640
Retail SF	13,200
Approval Date	2015-07-14
Expected Completion	2021
Year Opened	2021

 

PILOT Details

Lessee	The Landing Residences, LLC
Lessee Address	119 S. Main Street, Suite 800, Memphis, TN 38103
Term	20 Years
Approval Date	July 14, 2015
Close Date	6/7/2019 0:00:00
Extension Approval Date	5/29/2018 0:00:00
Extension	0
Term Mos	240.00
Status From Date	Active
Expected Term Date	6/7/2039 0:00:00
Remaining PILOT Years	15.71
Pilot Documents	Instrument #201906100056200 June 10, 2019 Instrument #21021327 January 1, 2021 - First lease amendment. Instrument #201906100056203 June 7, 2019

PILOT Details

Lessee	Parking Authority of the City of Memphis and County of Shelby, Tennessee
Lessee Address	The Landing Residences, LLC, 119 S. Main Street, Suite 800, Memphis, TN 38103
Term	20 Years
Approval Date	July 14, 2015
Close Date	6/7/2019 0:00:00
Extension	0
Term Mos	240.00
Status From Date	Active
Expected Term Date	6/7/2039 0:00:00
Remaining PILOT Years	15.71
Pilot Documents	Instrument #21021328 January 1, 2021 - Lease amendment Instrument #201906100056204 June 7, 2019 - Garage PILOT lease

CCDC Grant Details

Grant Program	General Grant
Grant Recipient	Front Street DevCo, LLC
Grant Amount	$987,100
Grant Approval Date	December 19, 2018
Grant MWBE Est	$246,775

DMA Incentive Details

Incentive Program	DMA Funding
Incentive Recipient	One Beale, LLC
Incentive Amount	$10,000,000
Incentive Status	Closed
Incentive Approval Date	August 19, 2015
Incentive Approval Close Date	June 7, 2019