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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.
Second Street Flats is a 64 unit project on 1.5 acres in downtown Memphis. The project consists of one and two-bedroom units and small ground-floor retail/commercial, Leasing and Clubhouse facility.