NAHB’s Multifamily Pillars of the Industry Awards highlight creative development concepts, innovative financing strategies, great design, and superior management and marketing in the apartment and condo marketplace. The Pillars awards are held in high esteem by top-level multifamily development companies, management firms and experts in the field. The annual competition is judged by a jury of knowledgeable peers, each having a proven record of success in various facets of the multifamily industry.
As announced at the International Builder’s Conference, Shapiro & Company Architects is pleased that our Crescent Bluff II apartment project is a finalist as The Best Affordable Apartment Community (over 100 Units).
Crescent Bluff Phase II Apartments, is a 172 unit project on 4 acres in downtown Memphis. The project consists of studio, one and two bedroom units with a Leasing / Clubhouse facility. The units will range from 1,150 to 1,350 square feet.
The project focuses on affordable market housing and uses a variety of local and federal incentives. The development team is using a Payment In Lieu Of Taxes, PILOT, through the Health, Education and Housing Facility Board of the City of Memphis. Elmington Capital is also using a low income housing tax credit, a federal program made available through the Tennessee Housing Development Authority.