The Works, Inc. is dedicated to creating quality and affordable housing within the urban core of Memphis.
The Works, Inc. originated out of the community’s needs for revitalization of its housing stock. The organization developed 120 units of affordable housing which includes 40 single-family units for homeownership by families with median incomes 80% and below the area median income.
The Works, Inc provided minor home repair services to 404 elderly homeowners with close to $2 million in investment through the City of Memphis Division of Housing and Community Development using Home Assistance Repair Program funds. As a HUD certified counseling agency, the organization provided Housing Education Counseling services to over 4,500 families, including: helping 458 families avoid foreclosure and helping over 250 families purchase homes.
RESIDENTIAL DEVELOPMENTS
Focuses on the development of single-family and multi-family housing capital. Aiming to ensure all dwellings and habitations are equitable, affordable, and accessible.
MIXED USE DEVELOPMENTS
Northside Square is undergoing renovation for the adaptive reuse of Northside High School, a vacant school building in the Klondike-Smokey City neighborhood, an economically distressed area of Memphis.
REBUILD RESTORE RENEW
Renaissance at Steele Apartments
In 2021, TWI completed Phase 1 of construction on Renaissance at Steele, an apartment community located in Frayser. This multi-family apartment complex contains 146 units for moderate to low-income families. All units are currently occupied.
Renaissance at Steele is a 17.7 MM investment, financed with $9.5 million in low-income tax credit equity, a $2.3 million primary debt from BlueHub and Tri-State Bank of Memphis, a $6.1 million loan from Neighborhood Preservation Inc., and a $980,000 loan from the City of Memphis Division of Housing and Community Development.
Peachtree Apartments
In 2021, TWI completed Phase 1 of construction on Renaissance at Steele, an apartment community located in Frayser. This multi-family apartment complex contains 146 units for moderate to low-income families. All units are currently occupied.
Renaissance at Steele is a 17.7 MM investment, financed with $9.5 million in low-income tax credit equity, a $2.3 million primary debt from BlueHub and Tri-State Bank of Memphis, a $6.1 million loan from Neighborhood Preservation Inc., and a $980,000 loan from the City of Memphis Division of Housing and Community Development.
Alpha Renaissance Apartments
As part of its efforts to revitalize south Memphis, the city officially opened the 80-unit Alpha Renaissance Apartments in 2002. The partners in the development encompass a wide range of public and private interests. They included The Works, Inc., the Tennessee Housing Development Agency, the National Equity Fund, the J.R. Hyde III Family Foundation, St. Andrew A.M.E. Church, Bank of America and Fannie Mae.
The complex, located within a few miles of Memphis' central business district and the historic Le Moyne-Owen College, was built as an affordable rental community. Located on 6.5 acres, the $6 million development included five, two-story buildings with 16 single-bedroom, 40 two-bedroom and 24 three-bedroom units.
Lincoln Park Subdivision
Located at the former Lincoln Junior High property on 667 Richmond Avenue, this new subdivision will consist of 14 single-family units and eight duplexes for ownership by low and moderate-income families. They were designed by Design Love Studio and will be one of the first Open Plan Subdivisions in the City of Memphis.
The Lincoln Park Subdivision represents one of the first "Open Space" Subdivision in the City of Memphis. The Open Space Subdivision is a tool listed in the Unified Development Code for Memphis. The Open Space Subdivision, essentially, relaxes the requirements on; setbacks and lot sizes in exchange for the project offering passive greenspace equal to 20% of the development.
MIXED USE DEVELOPMENT
Northside Square
As the oldest African-American neighborhood in North Memphis, Klondike has a long and proud history dating to its founding in 1899. The Klondike Smokey City Community Development Corporation and its partners, The Works, Inc. and Neighborhood Preservation, Inc. worked together on an historic transfer of properties from the Shelby County Land Bank. The transfer, in January of 2020, was the first step in what many hope is a path to stabilization for North Memphis.
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REBUILD RESTORE RENEW
Moving Klondike Forward
In January 2020, The Klondike Smokey City CDC and its partners, The Works, Inc. and Neighborhood Preservation, Inc., worked together on the historic transfer of properties from the Shelby County Land Bank.
This was the first step in what many hope is a path to stabilization for the Klondike neighborhood in North Memphis. Leveraging these properties, the partners have established a collective goal of growing Klondike from 600 households to more than 1,200 households by 2042, through the Moving Klondike Forward Initiative.
The key tenets of this strategic initiative are: no involuntary displacement of current residents, preserving permanent affordability and building resident equity. In addition to the parcels acquired from the Shelby County Land Bank, the project team has acquired more than 250 properties, consisting of vacant lots, existing housing and some commercial sites.
These parcels, along with the parcels from the Shelby County Land Bank will serve as the foundation for the new and renovated housing planned under the Moving Klondike Forward Initiative.
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