MEMPHIS, Tenn. —
The Memphis Housing Authority broke ground on Edgeview at Legacy Park, a new affordable senior housing facility on Thursday, Dec. 7, 2023.
The 99-unit development was strategically placed in the Medical District near essential resources.
"We're right here in the heart of the medical center. We're very close to Midtown, where there's restaurants and stores, and we started to improve our MATA transit system," said Memphis Mayor Jim Strickland.
According to the Memphis Housing Authority, the project comes as the city faces a quality affordable housing crisis.
The City of Memphis partnered with the Housing Authority for the project. City of Memphis Housing and Community Development Director Ashley Cash said she is glad to be a part of the project.
"Families and seniors with those lower incomes, they need it the most, but they usually have the least means to actually be able to obtain it, and when they do, it's rarely of good quality," she said.
According to the Zumper National Rent Report, the average cost of rent fell more than 5% in Nov. 2023. Still, the Housing Authority said the demand for quality low-income housing is much higher than the supply.
“Ninety-nine units of affordable housing. That is extremely important in Memphis and in Shelby County,” said Memphis Housing Authority CEO Dexter Washington.
All residents will receive project-based vouchers through the Housing Authority's Housing Choice Voucher Program.
Project-based vouchers ensure affordability for low-income elderly residents, limiting rent to 30% of their adjusted monthly income. The development will reserve 25% of units for people with incomes at or below 30% of the area median income. Seven units will also be reserved for veterans with incomes at or below 30% of area median income.
Edgeview at Legacy Park is expected to start welcoming seniors by Spring 2025.
Along with Edgeview, the Memphis Housing Authority is also working on several other affordable housing projects that could potentially house hundreds of low-income Memphians.