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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
DistrictMedical District
TypeNew Construction
DeveloperSix Land Company
ArchitectArch 101 Design Studio
SF Developed77,227
StatusUnder Construction
Apartment Units105
Parking Spaces89
Approval Date2022-08-09
Expected Completion2025


PILOT Details

LesseeSix Land Company, LLC
Lessee Address215 Union St, Ste 400, Jonesboro, AR 72401
Term12 Years
Approval DateAugust 9, 2022
Close Date9/11/2023 0:00:00
Term Mos144.00
Status From DateActive
Expected Term Date9/11/2035 0:00:00
Remaining PILOT Years11.21
Pilot Documents
Instrument #23082728
September 11, 2023 - Lease assignment to Six Land Company, LLC
Instrument #23082727
September 11, 2023 - QC to CCRFC