[Johnny Ryall]

Memphis developer to start construction of 50-unit apartment complex on Union this summer
the Commercial Appeal | By Wayne Risher

Cotton Mills, an apartment development at 607 Monroe in the Edge neighborhood east of Downtown, is moving closer to construction, a developer said today. Tony Crosby, managing partner of Memphis Student Housing LLC, said he hopes to have the 50-unit building under construction this summer. Crosby won Center City Revenue Finance Corp. approval of a one-year extension of a deadline for closing on a tax freeze for the project. Capping the property tax assessment at a pre-development rate for nine years would save the developers about $660,000. Crosby said the project had been delayed as developers worked out easement agreements with neighbors. The apartment site is between Kudzu’s, a bar and grill at 603 Monroe, and International Baptist Church at 627 Monroe, on a vacant lot that overlooks Union Avenue across from The Commercial Appeal.