Photo credit: Neighborhood Preservation, Inc.

Renaissance at Steele

The Works, Inc.
Memphis, TN
Financing Used For
Loan Amount
$2.6 million
Loan Length
204 months

The Frayser neighborhood of Memphis is working to recover from extreme disinvestment and declining access to amenities essential to resident well-being and prosperity.

Sustained community leadership has begun to reverse this trend of disinvestment, preserving and improving affordable housing and supporting local educational and economic opportunity and community services.

The cornerstone of these community-led revitalization efforts is the preservation and rehabilitation of Renaissance at Steele, a large apartment complex with 146 units of affordable housing. The project is led by The Works, Inc., a local nonprofit developer with extensive experience and deep knowledge of the neighborhood.

BlueHub’s $2.6 million loan to The Works supports the comprehensive effort to increase opportunities in this Memphis neighborhood. Improving this housing, while retaining its affordability, is part of a local strategy to connect local low-income families with quality affordable housing, childcare, education, youth development and other supports.

The rehabilitation and construction were completed in September 2020.