Memphis City Council reallocates $2M for Northside Square housing project

The Memphis City Council Committee meeting on March 18, 2025, focused on a significant funding request aimed at enhancing affordable housing in the city. The primary discussion centered around reallocating $7.5 million from the Accelerate Memphis initiative to the housing trust fund, specifically to support ongoing construction projects.

A key project highlighted during the meeting was the Northside Square development, which involves the redevelopment of the old Northside High School into a 42-unit housing complex. This project is a collaboration between the Works and ComCap, with the city contributing $2 million towards the housing portion. The units are designed to accommodate families earning 80% or less of the area median income, which translates to approximately $43,000 for a single-person household.

The committee discussed the need to transfer funds from architecture and engineering to construction to facilitate the processing of invoices for the project, which is currently underway. The total area of the redevelopment is 270,000 square feet, with the housing portion being a significant focus of the city's investment.

The meeting also included acknowledgments of council members and former officials present, fostering a sense of community engagement. The committee welcomed questions from attendees, indicating an open dialogue regarding the funding request and its implications for affordable housing in Memphis.

Overall, the reallocation of funds is seen as a crucial step in advancing the city's commitment to affordable housing, addressing the needs of lower-income families, and revitalizing the Northside area.