Renaissance at Steele Redevelopment

The BlueHub Loan Fund made a $2.6 million loan to The Works, a nonprofit Memphis developer to support the energy efficient redevelopment of Renaissance at Steele, a large and vacant apartment complex in the Frayser neighborhood of Memphis, TN. 

Renaissance will provide 146 units of affordable housing. This project is part of a comprehensive effort to revitalize a profoundly economically disadvantaged five-block area which will include the development of a new childcare center; an expansion of Girls, Inc. programming that will offer academic and vocational supports to local, low-income girls; and a charter school that serves local students and families.