MEMPHIS, Tenn. (WMC) - Millions of dollars are being poured into one Memphis community.
It’s not just in Downtown or Midtown, but Frayser is also starting to see a resurgence especially when it comes to housing.
The Frayser Community Development Corporation executive director Steve Lockwood says they own 130 houses in Frayser with a 99% occupancy rate.
Last week they celebrated a fairly new apartment complex with 100% occupancy.
The Executive Director of Frayser Community Steve Lockwood says it hasn’t always been like that.
“Over the last 10 years we've had a lot of apartment complexes really become bad, become degraded and abandoned,” said Lockwood.
Antonio Duque from Florida poured millions into renovating the Bayou Square Apartments on Millington Road.
“We looked around for neighborhoods that needed rehab because that’s what I’ve done all my life, I decided to come here to Frayser to make a good place for kids and families to grow,” said Duque.
Duque doesn’t live in Memphis, but his daughter lives on-site and manages the property. The two-bedroom apartment costs $680 per month which includes water.
“It’s a very important development,” said Lockwood. “We’re really happy to have them. It brings residents back into the neighborhood,” said Lockwood.
Duque says he learned something that others are starting to learn about Frayser.
“Tremendous investment. The returns are much higher,” said Duque.
The North Memphis neighborhood appears to be on the cusp of a comeback with at least $100 million being invested in Frayser.
“Now I don't mean theoretically, in some time, I mean now,” said Lockwood.
Lockwood points to a $16 million apartment renovation by Works, Inc. and ComCap Partners on Steele Avenue.
There are other developments coming to Frayser, including Porter-Leath opening a new multi-million dollar childcare center. Harmony Plaza in Frayser is being renovated into a state of the art STEM school.
Friday Shelby County Mayor Lee Harris announced that he wants to build a new upwards of $50 million schools in Frayser.
Still, Lockwood says there are hundreds of vacant parcels in Frayser available for development
“It’s come back. It’s coming back to life,” said Duque.
Duque says he is considering purchasing another piece of property in the community.