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Memphis, TN

Developing affordable housing in Memphis with a focus on Missing Middle units.

• Mission: Addressing the need for affordable “Missing Middle” housing in Midtown Memphis, providing quality living options near the rapidly growing Memphis Medical District.  
• Innovation: Developing a community-oriented pocket neighborhood featuring diverse housing options like townhomes, duplexes, and 4-plexes, with a focus on affordability for local workers and residents.  
• Market Opportunity: Positioned in an area with increasing demand for affordable housing, particularly for middle-income earners, with plans for future expansion to a total of 67 units.  
• Design Focus: Emphasizes shared spaces and front porches to foster social connections and create a sense of community within the development.  
• Leadership: Managed by KPS Development Partners under the leadership of Scott Kern, with strong support from a favorable tax deferral agreement and a clear path to development completion in Q1 2026.  
• Funding Uses: Proceeds will support construction, land acquisition, and operational needs for the first phase, positioning the project for long-term growth and impact in the Memphis housing market.  

Bellevue Montgomery is a multifamily housing development located in Midtown Memphis, Tennessee, aiming to address the pressing need for “Missing Middle” housing. This project plans to offer 23 units in its first phase, including cottages, duplexes, and 4-plexes, with rents targeted at 80% of the area median income (AMI). The goal is to provide affordable living options near the Memphis Medical District, a rapidly growing area that lacks sufficient housing for local workers and residents.

Funds raised from this offering will support the first phase of development, with a focus on covering the construction costs, securing land, and meeting operational requirements. The total project involves 67 units across additional phases, with completion for Phase 1 expected in Q1 2026. The project’s development is supported by a favorable tax deferral agreement, making it a promising investment opportunity for those looking to invest in affordable housing solutions with long-term growth potential.

Company Info

Bellevue Montgomery LLC is developing a pocket neighborhood in Midtown Memphis with affordable “Missing Middle Housing” units.

Bellevue Montgomery LLC is developing a 2.53-acre pocket neighborhood project located in Midtown Memphis, Tennessee, adjacent to the Memphis Medical District. The project aims to provide 23 “Missing Middle Housing” units, including townhomes, duplexes, and 4-plexes, with rents targeted at 80% of the area median income (AMI). Phase 1 of this project is part of a larger plan that will eventually include 67 total units. The development focuses on community-oriented design, featuring shared spaces and front porches to foster social connections.

Managed by KPS Development Partners, led by Scott Kern, the project is currently in the initial stages, with anticipated completion of Phase 1 by Q1 2026. Bellevue Montgomery LLC has secured a purchase and sale agreement for the property, with development costs estimated at $3.6M, partially financed through Regulation Crowdfunding and a construction loan. The project aligns with the increasing demand for affordable, quality housing near the Memphis Medical District.