Chamberlain & McCreery of Cordova, TN, purchased vacant land at 71 Belvedere in Memphis and is in the process of closing on the Ashley Manor apartments from Steve Woodyard with Woodyard Realty Corp. of Memphis.

The 6,000-square-foot, 16-unit apartment building on .82 acres was built in 1920 and is in the Midtown submarket. Old Zinnie’s, which is on the south block, and Joe’s Liquors, which is on the north block of Belvedere, anchor the property.

Eight new condo units, to be named Belvedere Condos, are expected to go in place on the vacant land at 71 Belvedere. The three-story, 960-square-foot condo units are going to be priced at $146,900 and will all come with private garages on the ground floor. The Belvedere Condo project is anticipated to start in 30 to 45 days. The anticipation of this project is to bring new growth to Belvedere. Currently, the Belvedere area has been known for affordable rental properties.

In addition to the Belvedere Condos, The Ashley Manor Apartment complex will be converted into 16 condo units and will include upgrades such as granite countertops, stainless steel appliances, pedestal sinks and tile flooring. The Ashley Manor Condos will be priced from $129,000. The $1.3 million project is also anticipated to bring new life to Belvedere.

These projects are both in anticipation for revitalizing midtown.

Information from: www.costar.com

This entry was posted on Friday, May 11th, 2007 at 1:07 am and is filed under Condo, Real Estate. Tags: Condo CoStar Memphis Midtown Projects Property Realty stainless steel stainless steel appliances . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.