CapStack Partners has donated the Somerset Apartments, a 30-acre property at 3427 Winchester Road, to the City of Memphis. The site, which consists of vacant and deteriorated structures, will be part of Mayor Paul Young's Blight Zero initiative, which aims to address blight and expand affordable housing, according to the City of Memphis.
The Somerset Apartments, uninhabitable for over a decade, will be revitalized through Mayor Young's Blight Zero initiative, which aims to address abandoned properties in Oakhaven. CapStack Partners has donated the property to support the effort. "We are immensely grateful to CapStack Partners for their generous donation of the Somerset Apartments," Mayor Young said. The project is part of a broader plan to improve housing and community development in Memphis, as reported by the City of Memphis.
David Blatt, CEO of CapStack Partners, stated, "We are honored to partner with the City of Memphis to make a meaningful impact in Oakhaven." The partnership aims to support revitalization efforts in the area. Mayor Young's administration is focused on innovation, public safety, economic development, and addressing blight, as stated by the City of Memphis.
