Apartment Project near Loflin Yard
Developers are planning a mixed-use apartment/commercial building next to Loflin Yard in South Main District of Downtown Memphis. In addition to the original plans, they are adding a warehouse reuse component to the project.
In early May, developers Hamilton & Holliman received a 15-year PILOT incentive from Downtown Memphis Commission’s Center City Revenue Finance Corp.
The tax break will help finance a six-story apartment building with ground-floor retail on the vacant lot near the intersection of West Carolina Avenue and Florida Street.
The developers are now proposing to also renovate an abandoned three-story warehouse on the backside of the property into another 24 apartment units.
They are now planning to complete both projects concurrently.
The warehouse renovation brings what was a $7.7 million project up to $10.4 million.
The new construction and warehouse renovation will bring an additional 79 apartments to the residential South Bluffs neighborhood.
The developers are adding more parking spaces for a total of 108 spots.