The Oliver
Category: Projects
The Oliver
7 Vance Ave
Memphis, TN
A new mixed-use development at the corner of Vance Avenue and Wagner Place, at the former location of the Nylon Net Building and 339 S. Front. The new development will consist of two new-construction buildings with 273 multifamily units, 310 parking spaces, and ground floor amenity space.
| Property Name | Nylon Net |
|---|---|
| Project Cost | $67,166,000 |
| District | South CBID |
| Type | New Construction |
| Developer | Carlisle Development Company |
| Contractor | Linkous |
| Architect | Studio Architects (Atlanta) |
| Status | Completed |
| Apartment Units | 273 |
| Parking Spaces | 310 |
| Approval Date | 2021-02-09 |
| Expected Completion | 2025 |
| Year Opened | 2025 |
PILOT Details
| Lessee | 7V Devco, LLC |
|---|---|
| Lessee Address | 245 Front Street Hotel Company, LLC, 119 S. Main Street, Suite 800, Memphis, TN 38103 |
| Term | 19 Years |
| Approval Date | February 9, 2021 |
| Close Date | 10/27/2021 0:00:00 |
| Extension | 0 |
| Term Mos | 234.00 |
| Status From Date | Active |
| Expected Term Date | 4/27/2041 0:00:00 |
| Remaining PILOT Years | 15.48 |
| Pilot Documents | Instrument #25054034 June 27, 2025 - Refinancing with Bellwether Enterprises Real Estate Capital, LLC Instrument #21134488 October 26, 2021 - Quitclaim to CCRFC Instrument #21134490 October 26, 2021 - PILOT lease |