Bellevue Montgomery
This is a test-the-waters communication. No money or other consideration is being solicited, and if sent in response, will not be accepted. No offer to buy securities can be accepted and no part of the purchase price can be received until the offering statement is filed and only through the intermediary’s platform. An indication of interest involves no obligation or commitment of any kind.
A pocket neighborhood adjacent to Memphis Medical District.
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Missing Middle housing. 23 townhomes, duplex + 4-plex units
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Affordable. Rents planned at 80% AMI
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Additional phases. For a total of 67 units
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Underway. Purchase + sale agreement executed
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Cost. $3.6M total project cost
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Completion. Q1 2026 anticipated completion for Phase 1
Bellevue Montgomery is a multifamily project planned for an infill site at 272 N Bellevue in Midtown Memphis, Tennessee, adjacent to the Memphis Medical District. But, even at the convergence of Downtown, Crosstown, and Midtown, the area does not have sufficient housing to fill the need. The Company intends to address this gap in the Medical District with much-needed "Missing Middle" housing.
The Company is raising funds for the first phase of a three-phase project that will ultimately yield approximately 67 cottages, duplexes, and 4-plexes for rent. A mix of 23 units is planned for this first phase, with 11 more in Phase 2 and a final 33 units in Phase 3. Rents are planned at or below 80% Area Median Income (AMI) rates for the area.
Scott Kern is the founder and President of KPS Development Partners, the developer of this pocket neighborhood. Scott started his career working as development intern for LendLease/ERE Yarmouth on the 1997 redevelopment of FashionValley Mall in San Diego, CA. Since then, he has spent the last 23 years working in the retail and mixed-use development industry; most recently as the Sr. Vice President of Development and COO of Poag Shopping Center. In 2019, Mr. Kern launched KRN Development, LLC, a full-service commercial real estate development company. In 2022, KPS Development Partners was launched as a new joint venture between Scott and partners Josh Poag, and David Selberg.
Mr. Kern earned a Bachelor of Arts in Environmental Design from San Diego State University. He is a member of the International Council of Shopping Centers and the Urban Land Institute. Additionally, he has served on the board of Baja Bound Ministries since 2018. Baja Bound is a non- profit organization that builds homes for the working poor in Baja, California.
