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Parkside at Shelby Farms Development Area
SummaryMarch 16, 2022: The Parkside at Shelby Farms TIF was amended to create a revenue match for all parcels included in the TIF for five years beginning on November 30, 2021 and update the TIF's Economic Impact Plan.
November 17, 2021: The Parkside at Shelby Farms TIF was amended to extend the date of project commencement from November 30, 2021 to June 30, 2022.
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.
Projected Total Jobs:
Projected MWBE Spending:
Parkside at Shelby Farms Development Area6678 Mullins Station Road, Memphis, TN 38134
- TIF Resolution
- TIF Economic Impact Plan