University Lofts (440 Monroe)
Category: Projects
University Lofts (440 Monroe)
16 Monroe Ave
Memphis, TN
A new apartment development in the Edge district with 105 furnished apartment units built over parking. The development is designed to accommodate the employees and students of the surrounding Medical District, as well as others who would benefit from the convenience of smaller furnished units.
| Project Cost | $20,429,456 |
|---|---|
| District | Medical District |
| Type | New Construction |
| Developer | Six Land Company |
| Architect | Arch 101 Design Studio |
| SF Developed | 77,227 |
| Status | Under Construction |
| Apartment Units | 105 |
| Parking Spaces | 89 |
| Approval Date | 2022-08-09 |
| Expected Completion | 2025 |
PILOT Details
| Lessee | Six Land Company, LLC |
|---|---|
| Lessee Address | 215 Union St, Ste 400, Jonesboro, AR 72401 |
| Term | 12 Years |
| Approval Date | August 9, 2022 |
| Close Date | 9/11/2023 0:00:00 |
| Extension | 0 |
| Term Mos | 144.00 |
| Status From Date | Active |
| Expected Term Date | 9/11/2035 0:00:00 |
| Remaining PILOT Years | 11.21 |
| Pilot Documents | Instrument #23082728 September 11, 2023 - Lease assignment to Six Land Company, LLC Instrument #23082727 September 11, 2023 - QC to CCRFC |