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New Medical District apartments get tax incentive

By , Daily Memphian Updated: July 08, 2025 11:48 AM CT | Published: July 08, 2025 11:48 AM CT

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 Only

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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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