The City of Memphis - Memphis Housing Authority

The City of Memphis
PROPERTY PORTFFOLIO
Creating a City of Choice
Memphis Land Bank (MLB) Properties
Molly A. Beard, Executive Director
2600 Thousand Oaks Blvd, Suite # 3210 Memphis, Tennessee 38118 (901) 590-4806
Memphis Land Bank (MLB) Properties
The
Memphis Land Bank,
Incorporated (MLB)
was established in the year 2000 for
the express purpose of assisting the Memphis Housing Authority and The City of Memphis in the
development, construction, management and operation of safe and affordable housing.
MLB’s primary focus and goal is to assist low and moderate income families and individuals, in The
City of Memphis in achieving a standard of living that would otherwise be unavailable to them.
Memphis Land Bank, Incorporated (MLB) recently:
•Closed on a Mixed-Finance Financing Place with HUD, MHA, and THDA for Lyons Ridge
Apartments, a one building senior housing facility containing 59 one-bedroom and 43 two-bedroom
units, eighty of the units will be reserved for public housing. The project is currently under
construction and expected to be complete by July 2011.
•Closed on a Mixed-Finance Financing Plan with HUD, MHA and THDA for The Village at
Cypresswood to be constructed on the former site of Cypresswood Estates Apartments. A planned
116 units in twenty-nine quad buildings will contain a mix of 72 two-bedroom and 44 three-bedroom
units. A total of 57 of the units will be earmarked for public housing. The project is currently under
construction and expected to be complete by August, 2011
•Completed construction of Austin Park Place on the former site of the old Horn Lake Apartments.
This property is currently fully leased.
• Acquired the GP interest in Levi/Lakeview Landing Rental Homes, resulting in the acquisition of 184
single family units on Levi Road near its intersection with Horn Lake Road. A total of ninety-two units
are reserved for public housing.
AUSTIN PARK PLACE
PROJECT DESCRIPTION: The newly constructed units at
Horn Lake Apartments, L.P. development replaced the
former dilapidated public housing community Horn Lake
Apartments. The new homes will be rented to households
with annual incomes at or below 50% and 60% of the
Area Median Income (AMI).
BEDROOMS: The site consist of 17 two-bedroom units,
34 three-bedroom units, 17 four-bedroom units and 3
five-bedroom units.
NUMBER OF UNITS: 71
AMENITIES: Well lit areas, large spacious bedrooms,
reserved parking, recreational/playground for children,
washer and dryer, hookups, refrigerator/stove, central
heat and air, windows adorned with mini-blinds, spacious
kitchen and on-site property management/ maintenance.
FAIRWAY MANOR
PROJECT STATUS: Completed.
LOCATION: 4351 Leclaire Street
Memphis, Tennessee 38109
(901) 789-2221
PROJECT DESCRIPTION: The development, known as
Fairway Manor is a proposed LIHTC and Tax-Exempt Bond
project that will be located in Memphis, Tennessee, Shelby
County. The subject site is part of the former site of
Graves Manor, a dilapidated public housing community
that is now demolished.
BEDROOMS: The site will consist of 18 three-bedroom
units and 18 four-bedroom units in a multi-family setting.
It will also include a 68 unit senior building with 48 onebedroom units and 20 two-bedroom units.
NUMBER OF UNITS: 104, upon completion.
PLANNED AMENITIES: Large spacious bedrooms, ample
parking,
recreational/playground
for
children,
refrigerator/stove central heat and air, washer and dryer
hookups and a club house.
PROJECT STATUS: Projected is awaiting notification of a
possible LIHTC Award.
LOCATION: Memphis, Tennessee 38109
HAROLD E. FORD, JR.
VILLAS
PROJECT DESCRIPTION: Harold E. Ford, Sr. Villas, is
made up of 36 duplex buildings, and has total of 72
dwelling units, plus a separate leasing office. One-half of
the units are designated for public housing and the other
half are tax credit units. All units are restricted to
households earning at or below 50% and 60% of the Area
Median Income (AMI).
NUMBER OF UNITS: 72
AMENITIES: Property manager on-site, well lit area, large
spacious
bedrooms,
ample
parking,
recreational/playground for children, washer and dryer
hookups, refrigerator/stove, central heat and air, windows
adorned with mini-blinds, spacious kitchen and on-site
property maintenance.
LEVI/LAKEVIEW LANDING
PROJECT STATUS: Completed.
LOCATION: 549 Deerskin Drive
Memphis, Tennessee 38109
(901) 785-4870
PROJECT DESCRIPTION: Levi/Lakeview Landing Rental
Homes consists of 184 residential units. All of the units are
low-income tax credit units and are reserved for those
earning at or below 50% and 60% of the Area Median
Income (AMI).
NUMBER OF UNITS: 184
AMENITIES: Premier location, spacious floor plans, private
yard, three and four bedroom homes, storage space,
refrigerator/stove,
washer/dryer
connections,
free
landscaping service, with no water and sewer fee.
PROJECT STATUS: Completed.
LOCATION: 3901 Dagan Drive
Memphis, Tennessee 38109
(901) 785-5840
LYONS RIDGE
PROJECT DESCRIPTION: The development is a proposed
LIHTC property and not a former public housing site. The
project will consist of 102 affordable elderly rental units to
be located in one building.
BEDROOMS: 59 one-bedroom units and 43 two-bedroom
units.
NUMBER OF UNITS: 102, upon completion.
PLANNED AMENITIES: Café, laundry facilities, central heat
and air, secure entrance, spacious lobby, covered pick-up
and drop-off area and interior court yard.
PROJECT STATUS: Completed.
PARKWAY COMMONS
LOCATION: 1633 Pennsylvania Avenue
Memphis, Tennessee 38109
(901) 948-6005
PROJECT DESCRIPTION: A two-story garden apartment
community containing 80 units suited for families and single
residents. All of the units are low income tax credit units.
BEDROOMS: The site consists of 16 one-bedroom units, 40
two-bedroom units and 24 three-bedroom units.
NUMBER OF UNITS: 80
AMENITIES: Gated community, laundry facilities on site,
playground, minutes away from downtown Memphis,
conveniently located near Park and I-240.
PROJECT STATUS: Completed.
LOCATION: 1500 Parkway View Circle
Memphis, Tennessee 38106
(901) 726-1812
RICHMOND PLACE
PROJECT DESCRIPTION: Richmond Place, formerly known
as Pecan Grove Senior Apartments, is a two-story garden
apartment community built in 2001 on seven acres located off
Horn Lake Road just north of the intersection with Mitchell
Road. Units are reserved for Senior Citizens (62 years of age
or older) and 6 units are adapted for handicapped persons.
The units contain 537 square feet to 760 square feet for one
and two bedroom units.
NUMBER OF UNITS: 100
AMENITIES: Large spacious bedrooms, community room,
fitness center, shuffleboard court, covered picnic area, media
room, TV room, library, coin-operated central laundry room,
on-site parking and secure access to the buildings.
THE VILLAGE AT
CYPRESSWOOD
PROJECT STATUS: Completed.
LOCATION: 3361 Sobota Drive
Memphis, Tennessee 38109
(901) 789-0039
PROJECT DESCRIPTION: The development, known as The
Village at Cypresswood is a proposed LIHTC property that will
be located in Memphis, Tennessee, Shelby County. The
subject site is part of the former site of Cypresswood
Apartments, a dilapidated public housing community that is
now demolished.
BEDROOMS: The site will consist of 72 two-bedroom units
and 44 three-bedroom units.
NUMBER OF UNITS: 116, upon completion.
PLANNED AMENITIES: Large spacious bedrooms, ample
parking,
recreational/playground
for
children,
refrigerator/stove central heat and air, washer and dryer
hookups and a club house.
PROJECT STATUS: To be completed in August 2011.
LOCATION: 4495 West Horn Lake Road
Memphis, Tennessee 38109
(901) 786-9911