The Memphis and Shelby County Community Redevelopment Agency (CRA) is proud to announce its significant contribution to the Edgeview at Legends Park project, a pivotal development in providing affordable housing solutions for the senior community in Memphis.
The Edgeview at Legends Park, a 99-unit senior affordable housing development, is a testament to the power of public-private partnerships in addressing the housing needs of underserved communities. With a total project cost exceeding $25 million, the CRA has committed $6 million in long-term loans, aligning with the Uptown Community Plan objective to support affordable housing for the community.
This project, a joint effort between the Memphis Housing Authority and Pennrose, leverages a mixed-finance approach, including tax-exempt bonds, conventional financing, and 4% Low Income Housing Tax Credits. Other notable funding partners include the CRA, the Assisi Foundation, and the Tennessee Housing Development Agency.
Key Highlights of the Edgeview at Legends Park:
- 99 Units for Seniors: Focused exclusively on seniors aged 62 and older, the project offers a mix of one and two-bedroom units for independent living.
- 100% Affordable Housing: Dedicated to affordability, Edgeview ensures accessibility for low-income seniors.
- Innovative Design and Amenities: The development features modern design with senior-specific amenities, including a community room, fitness center, and spaces for socialization and health-focused activities.
- Supportive Services: In partnership with MatterHealth, the project includes an in-house clinic and programs promoting healthy living for seniors.
The Edgeview at Legends Park, is set to be completed in January 2025, as a part of the final phase in transforming the former Dixie Homes public housing community. “This project is not just about building homes; it’s about creating a community where our elders can live with dignity, access essential services, and enjoy a quality of life they deserve,” said Andrew Murray, President of CRA.