Large permit filed for Madison Avenue apartments

By Published: January 03, 2019 10:23 PM CT

The development group 1544 Madison Partners, which consists of Orgel Family L.P., Three Madison Investments, Berlin Boyd, Adam Slovis, Benjamin Orgel, Jay Lindy and Michael McLaughlin, has filed a $21 million building permit application with city and county construction officials.

Patton & Taylor Construction Co. was listed as the project’s contractor, while Shapiro & Co. is listed as the architect.

In October 2017, the developers were awarded a 15-year PILOT (pilot-in-lieu-of-taxes) incentive from the Economic Development Growth Engine for Memphis and Shelby County for the 217-unit multifamily development at the corner of Madison Avenue and North Avalon Street.

The $24 million project will consist of 181 one-bedroom units, 36 two-bedroom units, 5,000 square feet of commercial space and 256 off-street parking spaces. Seventy units will be reserved for low- to moderate-income residents, per terms of the PILOT. The site is located across Madison Avenue from Minglewood Hall.

EDGE staff projected annual property taxes for the site would increase from $29,463 to $166,720 per year, while saving the applicant $411,769 per year.


Berlin Boyd EDGE
Patrick Lantrip

Patrick Lantrip

Patrick Lantrip is an award-winning writer, photographer and videographer based in Memphis, Tennessee. When not exploring the outdoors, Patrick enjoys spending time with his daughter, Anna.

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