Citing economic woes, Rise on the Ravine developers seek PILOT extension
When approved in 2022, the project was projected to be complete by the first quarter of 2025. If approved, the extension request would give the developers an additional year to close the project. (The Daily Memphian file)
“In the time since the PILOT was approved, macro-economic conditions in the real estate industry have not only not improved but have instead deteriorated further,” one of the developers wrote in a letter attached to the extension request.
Topics
The Rise on the Ravine The Edge District Development Services Group Downtown Memphis Commission Center City Revenue Finance Corp.Rob Moore
Rob Moore covers North Mississippi for The Daily Memphian. He holds a B.A. and an M.A. in English from The University of Memphis.
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