Home Builders Break Ground for VESTA

VOL. 129 | NO. 55 | Thursday, March 20, 2014

The owner of the recently completed Cabinet Shop lofts at 436 S. Front St. has filed a $2.9 million loan on the property.

Greenbrier Partners LLC filed the leasehold deed of trust, assignment of rents, security agreement and fixture filing March 14 through Triumph Bank. Greenbrier principal Vincent D. Smith Jr. signed the deed as chief manager.

The property is under a 10-year payment-in-lieu-of-taxes (PILOT) agreement with the Memphis Center City Revenue Finance Corp., which is listed as the property owner on the Shelby County Assessor of Propertys site.

The 40,800-square-foot, nearly century-old multiuse property at the corner of South Front Street and East Nettleton Avenue was renovated in 2013, according to the assessor.

The developments name, The Cabinet Shop, pays tribute to the former owner, Bill Scudder, and his business, S&S Custom Cabinets.

Source: The Daily News Online & Chandler Reports

Daily News staff

The West Tennessee Home Builders Association is kicking off the 2014 Fall VESTA Home Show with a special groundbreaking ceremony.

The groundbreaking ceremony, which will include the introduction of the 2014 VESTA homebuilders, will be held Thursday, March 20, at 10 a.m. at Shaws Creek Reserve Piperton, at 100 Kilmory Drive in Rossville.

See the rest here:
Home Builders Break Ground for VESTA