Another housing development is coming to the Medical District.
A project at 757 Court Ave. will add 48 new units along with commercial space to a growing housing market in the Medical District, according to filings with the Memphis and Shelby County Board of Adjustment.
The development group is 757 Court LLC, which includes members Daniel Szymanek, Jonathan Aur, Rob Mayer, and Scott Tashie.
The Court Avenue project is another in a long line of recent investments and development in the Medical District, as developers try to capitalize on a housing shortage in the area.
“Currently, the Memphis Medical District has approximately 8,000 students, 10,000 residents, and 16,000 employees,” a ViktorHall Construction representative wrote in a letter of intent. “The area has quickly become a vivacious and convenient option for city living.
“According to an analysis conducted by Zimmerman/Volk and Associates Inc. on behalf of the Memphis Medical District Collaborative (MMDC), approximately 1,300 new rental dwelling units could be developed and absorbed within the Memphis Medical District by 2022,” the letter of intent stated. “With institutional expansions and planning for expected growth of up to 6,000 new jobs by 2021, there is a large market gap within the district.”