New Medical District apartments get tax incentive
The $3.8 million project for 193 Pine Street includes 28 apartments, comprising five two-bedroom units, 13 one-bedroom units and 10 studio apartments, according to the PILOT application. (Courtesy Cnct. Design)
New owners of a boarded-up, abandoned Memphis Medical District building received a payment-in-lieu-of-taxes incentive to develop apartments near Union Avenue.
The Downtown Memphis Commission Center City Revenue Finance Corp. approved a 10-year PILOT Tuesday, July 8, for 193 Pine Street, a 21,000-square-foot, three-story building.
The $3.8 million project includes 28 apartments, comprising five two-bedroom units, 13 one-bedroom units and 10 studio apartments, according to the PILOT application.
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Memphis Medical District cnct. design Downtown Memphis Commission Center City Revenue Finance Corp. Subscriber OnlyAre you enjoying your subscription?
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Dima Amro
Dima Amro is a native Memphian who covers commercial real estate and economic development for The Daily Memphian. She received her B.A. in journalism at the University of Memphis and M.A. in investigative journalism at American University.
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