The Richman’s Property Management wing will become the Memphis Towers’ new owner, running under the name “TRG Memphis Replacement GP LLC.”
MEMPHIS, Tenn. — The Memphis Towers Tenants Union is claiming victory in ousting Millennia Companies after the company severed all relations with the apartment amid complaints of numerous severe issues, the group announced Wednesday, March 6.
The separation is coming after Ohio-based Millennia did not fix problems within an allotted 30-day cure period, getting issued a legal notice of default on its Memphis Towers PILOT (payments-in-lieu of ad valorem taxes) from Memphis’ Health, Education, and Housing Facilities (HEHF) in February, the union said. Policy states the PILOT will now be involuntarily terminated.
The tenant union were notified that the Richman’s Property Management wing will become the Memphis Towers new owner, running under the name “TRG Memphis Replacement GP LLC.” According to the union, Richman is hoping that Memphis Towers retain its PILOT.
On Wednesday, March 6, union leaders said they …