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Universal Life Building (2015)

Category: Projects

Universal Life Building (2015)

480 Dr M L King Ave
Memphis, TN

Renovate for office use with developer using 20 percent of the space for their own offices.

Property NameUniversal Life Insurance
Project Cost$6,260,880
DistrictMedical District
DeveloperSelf Tucker Architects
SF Developed33,000
MWBE Rate1.00
Total MWBE$3,123,342
EBO Percent CTD0.66
Office SF33,000
Approval Date2015-04-14
Year Opened2018


PILOT Details

LesseeSelf Tucker Properties, LLC
Lessee AddressJuan Self & Jimmie Tucker, 480 Dr. M.L. King Jr. Ave, Suite 201 Memphis, TN 38126
Term10 Years
Approval DateApril 14, 2015
Close Date6/27/2017 0:00:00
Extension Approval Date2/14/2017 0:00:00
Term Mos120.00
Status From DateActive
Expected Term Date6/27/2027 0:00:00
Remaining PILOT Years3.25
Pilot Documents
Instrument #15041487
April 29, 2015 - Lease for bond issue, not official PILOT lease
Instrument #15041484
April 29, 2015
Instrument #17064970
June 28, 2017 - Amendment to Lease

CCDC Loan Details

Loan ProgramDevelopment Loan
Loan RecipientSelf Tucker Properties, LLC
Loan Amount$300,000
Loan StatusClosed
Loan Approval DateApril 15, 2015
Loan Approval Close DateJune 11, 2018
Loan MWBE Est$1,042,890