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Broad Ave Tower Mixed Used Development

Project Number: 20180601
Pilot Type: Residential
Parcel ID: 033020 00015
County Commission District: 07 | City Council District: 05, 09


3D Realty, LLC was awarded a 15-year Residential PILOT to construct approximately 414 apartment units at the intersection of Broad Avenue and Bingham Street. 3D Realty is comprised of James Maclin of M&M Enterprises as lead developer and Bob Loeb of Loeb Properties.

The Residential PILOT will support redevelopment of property originally built in 1945 as a Sears warehouse. The existing buildings are 75% vacant, in very poor condition and will be razed to create the site for new construction (the water tower will remain). The project will consist of multiple four-story buildings containing 124 studio apartments, 207 one-bedroom units and 83 two-bedroom units. Additionally, the project will create 10,000 square feet of ground floor commercial space and 394 off-street parking spaces.

All apartments will feature black or stainless-steel appliances, quartz or granite countertops and 9-foot ceilings. Resident amenities will include a swimming pool, fitness center, pet parks, and multiple outdoor lounge areas.

Financial assistance is needed to deliver new class-A multi-family living space to Binghampton, increase population density in historic parts of Memphis and make this $51,100,000 investment financially feasible. 3D Realty has committed to pricing 20% of the project, or 83 units, to meet federal standards for Low to Moderate income residents. The project is supported by the Binghampton Development Corporation consistent with the Residential PILOT policies.



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City: $5,515,960 (75%)
County: $7,106,375 (75%)

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Broad Ave Tower Mixed Used Development

2542 Broad Ave, Memphis, TN 38112