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JD USA Shopping Center, dba The Whitehaven Landing

Project Number: 20180502
Project Type: Community Builder
Parcel ID: 07906000003
County Commission District: 9 | City Council District: 3

Summary

JD USA Shopping Center was awarded a 15-year Community Builder PILOT. The Whitehaven Landing, developed by JD USA Shopping Center, is located at 1232 East Shelby Drive and is designed to be a family entertainment-anchored retail shopping center located in the heart of Whitehaven.

The development will be comprised of anchor tenant, Altitude Trampoline Park, along with 16,529 square feet of retail space, and 17,432 square feet of flex space positioned for office or retail use. JDUSA Shopping Center, Inc. will invest $4,458,009 into the facility and create 30 part-time trampoline park positions, 30 part-time positions with other retailers, 40 full-time positions with businesses occupying the flex-space, and four management positions.

Financial assistance is needed to remove blight, complete redevelopment of the building and improve the overall neighborhood quality of life consistent with the Community Builder PILOT policies. The project is located in a Census Tract that is designated severely distressed based on poverty, unemployment, and income. Forty-six percent of the area’s 38116 zip code households have incomes of less than $35,000 annually.

The Greater Whitehaven Economic Redevelopment Corporation supports the project. EDGE staff projects $433,205 in local total tax revenues to be received during the PILOT term and a $1,073,229 benefit to JD USA Shopping Center.

PILOT Term:

15

Projected New Jobs:

89

Projected Retained Jobs:

Not applicable

Total Jobs:

89

Projected Average Payroll of New Jobs:

$22,804

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$2,029,556

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$4,578,224
Real Property Investment:
$2,405,228

Personal Property Investment:
$723,081

Community Reinvestment Credit (CRC):
$1,329,700

Capital Investment not in PILOT:
$120,215

Projected Tax Revenue:

$433,205

Projected Taxes Abated:

$1,073,229
City: $469,001 (75%)
County: $604,228 (75%)

Benefit/Cost Ratio:

0.40

Projected MWBE/LOSB Spending:

$762,291

Incentive Provided:

$1,073,229

Compliance Information

Not applicable

Approved

5/16/2018

Ramp up Period

1

Closing

Not applicable

Effective

Not applicable

Lease Begins

Not applicable

Lease Expires

Not applicable

Amended

Not applicable

Property Details

Lease Began

Not applicable

Lease Expires

Not applicable

JD USA Shopping Center, dba The Whitehaven Landing

1232 East Shelby Drive, Memphis, TN 38116