MEMPHIS, Tenn. (WMC) - The apartment boom we’ve been seeing in Midtown is making its way to Cooper-Young.
A group of investors called CPK, LLC have their eyes on a piece of property at 891 South Cooper Street. It is right across the street from Soul Fish Cafe.
If they are approved for a 15-year PILOT, or payment in lieu of taxes, they are ready to break ground in just a few months.
It would be a three-story mixed-use residential unit.
The project with 34 apartments and office space on the ground level is getting mixed reaction.
“Don’t just put something here to make a buck please think through before you put it in our neighborhood,” said Cooper-Young resident Liz Rincon.
Rincon and others in Cooper-Young question the building’s design and fit in the historic neighborhood.
On the Facebook page “Preserve Cooper-Young,” one person wrote, “Wow. Quite an eyesore. Another.”
Another said, “This design is hideous."
“Like we like our historic homes, we like our historic infrastructure, we like our historic integrity. So, you know, adding more apartments doesn’t really feel like our neighborhood. It could change the dynamic of our neighborhood,” said Rincon.
Then there's the issue of parking. Some residents say it is already a hassle in Cooper-Young and wonder how an apartment complex will affect parking in the area.
However, Nicole Bernal doesn’t think it will be too bad.
“You know, I wouldn’t say concerned. I would just say, you know, it kind of just comes with the area. Like at this point it’s kind of like Downtown, you park on the street and park where you can,” said Bernal.
According to the developers’ PILOT application, there will 66 off-street parking spaces.
Construction could begin in early 2020.
“I think it's going to be great for the neighborhood,” said Bernal.
We reached out to the three people associated with this project, but we haven’t heard back.
Their PILOT will be considered next week.