News & Views
Pennrose and Memphis Housing Authority Break Ground on Edgeview at Legends Park
Construction to begin on 99-unit, senior affordable housing community
Memphis Housing Authority and Pennrose announced the groundbreaking of Edgeview at Legends Park, a 99-unit, senior affordable housing development located within the mixed-income community in Memphis’ Medical District. The project is 100% affordable, with all units eligible for Project-Based Vouchers, which are utilized by residents participating in MHA’s Housing Choice Voucher program. The project is slated to begin welcoming residents in early 2025.
“There is a pressing need for accessible, high-quality housing options for Memphis residents – not just those who currently qualify for public housing assistance,” said Dexter Washington, Chief Executive Officer of Memphis Housing Authority. “Edgeview at Legends Park is not just a development; it's a crucial response to the demand for affordable, independent living for our city’s senior population.”
Project-Based Vouchers ensure affordability for low-income elderly residents, limiting rent to 30% of their adjusted monthly income. The development reserves 25% of units for individuals with incomes at or below 30% of the area median income (AMI), prioritizing low-income older adults. Additionally, seven units will be specifically designated for elderly Veterans with incomes at or below 30% AMI.
Designed with a contemporary aesthetic, Edgeview at Legends Park provides a modern and independent living experience for people aged 62 and older. The brand-new community features one- and two-bedroom apartments with universal design principles to prioritize aging in place. The building also seamlessly integrates with the existing Legends Park neighborhood.
“We are proud to work closely with partners who understand the direct link between stable, affordable housing and healthy lifestyles for seniors,” said Amon Martin, Regional Vice President at Pennrose. “Edgeview at Legends Park is designed to meet the needs of Memphis’ growing and diverse senior community through high-quality, modern apartments, robust senior-specific amenities and tailored supportive services.”
To promote healthy lifestyles, Edgeview offers premium shared spaces and amenities, including a community room, fitness room, exterior covered porch and interior gathering spaces on each floor. Residents will also have access to robust supportive services, including an on-site impact coordinator and an in-building primary medical facility through a partnership with Matter Health. Edgeview at Legends Park is also strategically located near the VA Medical Center, providing easy access to Poplar Avenue and Downtown Memphis through public transportation.
This project is being developed through a joint public-private partnership between the Memphis Housing Authority and Pennrose, and leverages a mixed-finance approach utilizing tax-exempt bonds, conventional financing, local and state financing and 4% Low-Income Housing Tax Credits. Funding partners include the City of Memphis, the Memphis and Shelby County Community Redevelopment Agency, the Assisi Foundation and the Tennessee Housing Development Agency.
To learn more about this development, visit EdgeviewatLegendsPark.com.