The Marine Hospital Residence
Category: Projects
The Marine Hospital Residence
360 Metal Museum Dr
Memphis, TN
The renovation of three buildings on the historic Marine Hospital campus into a residential development with 71 apartments.
| Project Cost | $18,736,056 |
|---|---|
| District | South CBID |
| Type | Renovation |
| Developer | Lauren Crews (Desoto Point Partners, LLC) |
| Contractor | Montgomery Martin |
| Architect | LRK |
| SF Developed | 102,455 |
| Total MWBE | $3,834,297 |
| EBO Percent CTD | 0.96 |
| Status | Completed |
| Apartment Units | 71 |
| Approval Date | 2018-11-13 |
| Expected Completion | 2020 |
| Year Opened | 2021 |
PILOT Details
| Lessee | Desoto Pointe Partners, LLC |
|---|---|
| Lessee Address | 2285 Lansingwood Drive, Germantown, TN 38139 |
| Term | 20 Years |
| Approval Date | November 13, 2018 |
| Close Date | 6/21/2019 0:00:00 |
| Extension | 0 |
| Term Mos | 240.00 |
| Status From Date | Active |
| Expected Term Date | 6/21/2039 0:00:00 |
| Remaining PILOT Years | 14.53 |
| Pilot Documents | Instrument #201906210061342 June 21, 2019 Instrument #201906210061337 June 20, 2019 |
CCDC Loan Details
| Loan Program | Development Loan |
|---|---|
| Loan Recipient | Desoto Pointe Partners, LLC |
| Loan Amount | $300,000 |
| Loan Approval Date | November 14, 2018 |
| Loan MWBE Est | $3,188,798 |