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Parkside at Shelby Farms Development Area

Summary

Parkside at Shelby Farms Park is a 60+ acre development comprised of 33,000 square feet of commercial space, 1,700 structured parking spaces, and 1,400 multi-unit residential units along with a mixture of garden homes, offices, and support services. The development will also include a 130-room boutique hotel at the corner of Mullins Station and Whitten Road. Bordered on the south by the Shelby Farms Park and the Greenline, Parkside at Shelby Farms Park is designed to complement and support the park.

The project will not be feasible without significant investment in new and improved infrastructure and parking in the area. $71.7 million of TIF funds will be spent on on-site and off-site public improvements including roads, water/sewer lines, gas and electric lines, and parking. Total cost of the public improvements, including interest on the bonds, is estimated to be $96.4 million.

This project is one of the largest private development projects in the City and County in recent decades. The project will generate substantial tax revenues to the local governments and help stem outmigration of population to other areas.

TIF Amount:

$96,400,000

Projected Total Jobs:

146

Total Investment:

$375,000,000

Projected MWBE Spending:

$105,000,000

Approved

6/20/2018

Parkside at Shelby Farms Development Area

6678 Mullins Station Road, Memphis, TN 38134