The Rise Apartments (Bakery Redevelopment)
Category: Projects
The Rise Apartments (Bakery Redevelopment)
0 Monroe Ave
Memphis, TN
A new construction apartment building with 286 units on the site of the former Wonderbread bakeru in the Edge district. This project is a component of the larger Edge Redevelopment project that included the construction of The Rise, a new parking garage, the Orion and Leo Events headquarters, and the renovation of the Cycle Shop and Glass Factory buildings.
| Project Cost | $33,850,092 |
|---|---|
| District | Medical District |
| Type | New Construction |
| Developer | Gary Prostermna, Development Services Group |
| Architect | Looney Ricks Kiss |
| SF Developed | 199,482 |
| Status | Completed |
| Apartment Units | 286 |
| Expected Completion | 0 |
| Year Opened | 2020 |
PILOT Details
| Lessee | WH Bakery, LLC |
|---|---|
| Lessee Address | c/o Worthington Hyde Partners, 3930 East Jones Bridge Road, Suite 145, Norcross, Georgia, 30092 |
| Term | 20 Years |
| Close Date | 9/13/2018 0:00:00 |
| Extension | 0 |
| Term Mos | 240.00 |
| Status From Date | Active |
| Expected Term Date | 9/13/2038 0:00:00 |
| Remaining PILOT Years | 14.98 |
| Pilot Documents | Instrument #18093646 September 13, 2018 Instrument #18093645 September 13, 2018 |