Downtown Memphis Commission approves new PILOT policy
The most notable changes to the tax incentives are the length of the program and a focus on affordable housing.
There are 10 article(s) tagged Butler Row:
The most notable changes to the tax incentives are the length of the program and a focus on affordable housing.
As an influx of projects slowly but surely rise against Downtown Memphis’ horizon, the city inches toward walkability. But “you don’t get walkable communities thinking solely of pedestrians.”
The Memphis and Shelby County Land Use Control Board approved a street closure for Hadden Street in South Main, an important piece for the Butler Row development to proceed.
This week’s Inked covers updates on the $65 million Butler Row development, pending changes to the Raymond James building, a new tenant at The Altana in Midtown and a new hotel in the South Main district.
The $65 million, 2.34-acre Butler Row development was previously awarded a 12-year payment-in-lieu-of-taxes in January.
In its report, Board of Adjustment staff referred to the project as “exemplar of urban design.”
A veteran business reporter with decades of experience covering development in the Mid-South, Tom Bailey knows that busy, activated sidewalks are key to urban vibrancy.
Over the course of the 12-year payment-in-lieu-of-taxes agreement, the increase in taxes generated by the project is estimated at more than $3 million.
“There’s demand, and we couldn’t have a stronger signal for investors that this is the place to invest,” said Apryl Childs-Potter, chief marketing officer with the Greater Memphis Chamber.
Butler Row would span more than 2 acres, including the intersection at East Butler Avenue and B.B. King Boulevard.
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