‹ Back To Loans

1570 Vollintine Ave (Timothy S. Hubbard)

ID: ED20200801
Inner City Economic Development Loan
County Comission District: 7 | City Council District: 7


An abandoned and blighted retail strip in the Vollintine-Evergreen neighborhood may soon have a new life. The 75-year-old building has sat vacant and vandalized for years.

Today, the Finance Committee awarded a $25,000 Inner City Economic Development Loan to Timothy Hubbard to revive that strip with a new Laundromat for the area. Hubbard is the founder and CEO of Midtown Stays, a short-term rental accommodation company.

The loan will help Hubbard completely renovate the building. The project will create three new jobs and invest $643,000 in the location. The renovation will also lead to three additional units that could be ideal for a salon, restaurant or events space.

“We believe this project will bring value to the community and make a positive impact on the neighborhood,” said Lilly R. Gilkey, President of Vollintine Evergreen Community Association. “The renovation will take what was once an eye sore and clean up the property creating a space for new businesses to offer value to the area and liven up the neighborhood.”

Loan Term:

3 Years

Interest Rate:


Projected New Jobs:


Projected Retained Jobs:

Not applicable

Average Payroll:

Not applicable

Loan Amount:


Loan Use:

Not applicable

Total Projected Capital Investment:

Real Property:
Not applicable

Not applicable

Not applicable

Not applicable

Machinery & Equipment:
Not applicable

Furniture, Fixtures, Office:
Not applicable

Not applicable

Fees & Soft Costs:
Not applicable

Permanent Working Capital:
Not applicable

Not applicable




Not approved

1570 Vollintine Ave (Timothy S. Hubbard)

1570 Vollintine Avenue, Memphis, TN 38107