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University Place
Overview
University Place is a 473-unit mixed-income housing development in south central Memphis, situated on the site of the former Lamar Terrace public housing project. In June 2004, Memphis Housing Authority was awarded $22.5 million in federal HOPE VI funding for the project. The University Place development leverages more than $50 million from other sources of financing.
University Place includes a senior housing facility, multi-family apartments with one, two or three bedrooms and a number of homes for sale, all first-class and state-of-the-art in design, construction and amenities. Most buildings in the development are registered with the LEED (Leadership in Energy and Environment Design) Home Program and will be certified soon. The entire development is registered in the LEED for Neighborhood Development Pilot Program, and will be certified in late spring or early summer 2008. Developed by the U.S. Green Building Council, the LEED system provides standards for environmentally sustainable construction.
Partners
Working closely with MHA, the project is a joint venture between McCormack Baron Salazar, Inc. and Community Capital. MBS is the nation’s leading for-profit developer of economically integrated urban neighborhoods. Community Capital is a leader in the area of affordable housing financing and consulting in the City of Memphis.
University Place is managed by McCormack Baron Ragan Management Services. MBR has successfully managed mixed-income and affordable housing communities across the country for over three decades. Today MBR is one of the largest property managers of mixed-income housing in the country, with more than 14,970 units under management.
Urban Strategies, Inc. is coordinating the relocation and transition of former Lamar Terrace residents and is providing ongoing community and supportive services for University Place residents.
In addition to University Place, this unique team of partners is developing Legends Park, on the site of the former Dixie Homes public housing development, just north of University Place and in the heart of the Memphis Medical Center. The pair of developments are part of a broader story of exciting redevelopment and revitalization taking place in the Downtown and Medical Center areas. You can learn more about these initiatives by checking out the Memphis Bioworks Foundation and Memphis Medical Center.
Community Resources
All the partners in the University Place project are proud to be part of the Memphis community, a city full of visionary agencies committed to providing an array of resources for the community. Those agencies include: