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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
DistrictSouth CBID
DeveloperLauren Crews (Desoto Point Partners, LLC)
ContractorMontgomery Martin
SF Developed102,455
Total MWBE$3,834,297
EBO Percent CTD0.96
Apartment Units71
Approval Date2018-11-13
Expected Completion2020
Year Opened2021


PILOT Details

LesseeDesoto Pointe Partners, LLC
Lessee Address2285 Lansingwood Drive, Germantown, TN 38139
Term20 Years
Approval DateNovember 13, 2018
Close Date6/21/2019 0:00:00
Term Mos240.00
Status From DateActive
Expected Term Date6/21/2039 0:00:00
Remaining PILOT Years15.75
Pilot Documents

CCDC Loan Details

Loan ProgramDevelopment Loan
Loan RecipientDesoto Pointe Partners, LLC
Loan Amount$300,000
Loan Approval DateNovember 14, 2018
Loan MWBE Est$3,188,798