Posted Dec 11, 2019, 6:43 AM
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Join Date: Jan 2010
Posts: 1,967
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Local investor proposes $12M redevelopment of prominent Midtown building
By Jacob Steimer – Staff Reporter, Memphis Business Journal
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Amin Zaki, who has worked on a variety of Midtown multifamily projects, is seeking a $1.9 million PILOT (payment-in-lieu-of-taxes) to redevelop the 1974 building and build small apartment buildings beside it. Including a $3.2 million purchase of the property, Zaki intends to spend $12.4 million on the project, according to his application for the incentive. Between the 52 units being placed in the existing building and the two new buildings, the development would hold 74 apartments.
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Story - https://www.bizjournals.com/memphis/...opment-of.html
rendering SHAPIRO & CO. ARCHITECTS | COURTESY DOWNTOWN MEMPHIS COMMISSION
rendering SHAPIRO & CO. ARCHITECTS | COURTESY DOWNTOWN MEMPHIS COMMISSION
Story - https://www.bizjournals.com/memphis/...opment-of.html
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