587 Houston St Memphis, TN 38111

This exceptional 1.65-acre site in Memphis, Tennessee, presents a fully entitled opportunity for a 237-bed student housing development. Located at 587-619 Houston St, this seven-parcel assemblage is ideally situated within the University District Overlay, offering prime pedestrian access to the University of Memphis. The project, initially planned for 194 beds, now boasts a variance allowing for 237 beds distributed across 108 units, encompassing a well-designed mix of one-, two-, three-, and four-bedroom units. Comprehensive architectural plans are complete, including civil, MEP, and architectural drawings for the initial 194-bed configuration. Proposed amenities include a leasing office, club room, fitness center, study hall, courtyard, pool, outdoor fitness area, and a roof deck terrace. Ample secured parking is available on-site (90 spaces) and on-street (9 spaces), supplemented by proximity to a University of Memphis parking garage. Utilities are already connected to the site. This is a rare infill opportunity in a high-demand location, offering a compelling investment prospect with significant potential for return. The asking price is $1,995,000. All plans are included in the sale.