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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.