Stalled Falls Building apartment conversion seeks new tax break as costs climb
The Falls Building in Downtown Memphis may be converted from office to multifamily. (Neil Strebig/The Daily Memphian file)
The owners of the Falls Building Downtown are seeking a revamped 20-year tax abatement to restart an $82.3 million conversion of the historic property from office to multifamily.
It’s one of two payment-in-lieu-of-taxes applications the Downtown Memphis Commission’s Center City Revenue Finance Corp. will hear at its Oct. 13 meeting.
The other is a PILOT for the second phase of the Belle Mont residential development.
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Left Lane Development Falls Building Downtown Memphis Commission Center City Revenue Finance Corp Subscriber OnlyThank you for reading The Daily Memphian. Your support is critical.
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Andy Ashby
Andy Ashby covers commercial real estate and economic development. He has worked locally at the Germantown News, the DeSoto County Tribune, the Daily News and the Memphis Business Journal. He graduated from the University of Tennessee, where he photographed the 1998 National Championship game. Email tips or story ideas to aashby@dailymemphian.com
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