By Amalia Otet, Associate Editor<\/p>\n
Henry Turley Co. is preparing to deliver a new mixed-use complex, the latest addition to its 214-unit portfolio known as the Downtown Memphis Flats.<\/p>\n
Downtown Memphis Flats consists of five unique properties, all situated on or near Downtown\u2019s South Main Street: Barboro Flats, Cornerstone Flats, Main Street Flats, Radio Center Flats and Van Vleet Flats.<\/p>\n
Van Vleet Flats sits on a piece of prime real estate at 122 Gayoso Ave., between Main St. and Second St., in the historic Van Vleet-Mansfield Drug Co. building. The nearly century-old warehouse that has served as a headquarters and distribution center for Fulmer Cos. for the last 30 years was redeveloped into a stylish mixed-use facility. The property will feature 60 loft apartments and 18,000 square feet of commercial space, according to the Daily News<\/em>. Fulmer Cos. will continue to occupy space in the newly renovated building, on the ground floor and concourse level.<\/p>\n Van Veet\u2019s lofts combine an optimum location with high-end finishes, including modern stainless steel kitchen appliances, stylish baths and original concrete flooring. The community has a mix of one- and two-bedroom units, ranging from 778 to 1,468 square feet. It is 20 percent pre-leased, with monthly rents ranging from $965 to $1,750.<\/p>\n Henry Turley Co. worked on the restoration of the seven-story building with architect LRK Inc. and general contractor Montgomery Martin Contractors LLC. The project is slated for completion by mid-December, with an official opening scheduled for January 1, 2012.<\/p>\n In other multi-housing news, the Memphis Business Journal<\/em> reports that Willow Lake Apartments, an 836-unit apartment complex at 2774 Mendenhall, sold for $7.8 million or $9,330 per unit, to California-based New Life Core Willow Lake LLC.<\/p>\n Willow Lake features one-, two- and three-bedroom garden- and townhouse-style units, with an average unit size of 950 square feet. The community also boasts a 9.5-acre lake and canal flowing through the property.<\/p>\n The apartment community was 79 percent leased at the time of the acquisition.<\/p>\n","protected":false},"excerpt":{"rendered":" By Amalia Otet, Associate Editor
\nHenry Turley Co. is preparing to deliver a new mixed-use complex, the latest addition to its 214-unit portfolio known as the Downtown Memphis Flats.
\nDowntown Memphis Flats consists of five unique properties, all situated on or near […]<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004052082","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\n