$58,000,000 Apartment communtiy in the University of Memphis area

[James Wachob]

The $58 million apartment complex at the corner of Highland Street and Midland Avenue is nearing its first move-in date.

Highland Row, a three-building, 354-apartment development with 32,000 square feet of retail space and a 511-space parking garage, will turn the keys over to its first tenants in June.

“The availability is really getting slim,” said Misty Hill, director of residential services for Highland Row. “I think people aren’t aware where we are in the process, and even though a couple of the buildings are not completed, we are already leasing.”

The phase that will welcome tenants next month is the middle building on the property, which is currently 75 percent leased. Hill said she expects the building to be fully leased by the end of May.

The building adjacent to Midland has also already started to lease. That facility, which will include Char Restaurant on the ground floor, is slated to be finished by August.

Layouts range from studios to three bedrooms, with prices starting at $945 and going up to $2,133. Parking is free for residents, and there are no monthly pet fees after an initial deposit. Some of the other amenities include a 24-hour fitness center, clubhouse, swimming pool, walk-in closets and in-unit washer/dryer.

In addition to the parking garage, there is surface parking surrounding the buildings, as well as a lot off Midland Avenue.

The project is being developed by Indiana-based Milhaus Development LLC. Memphis-based Poag Shopping Centers LLC is handling the retail. Char is the only announced tenant.

“There are a few [tenants] that are definitely on the radar that they will probably be announcing soon,” Hill said.

Hill said they are currently leasing about 10 units a week.

“We only have about 20 left in [the middle building],” Hill said. “We feel as though this building will be leased for sure by the end of May. … Our tours are nonstop all day long, seven days a week.”

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