MEMPHIS — BelleMont, a 23-unit cottage court community, held a ribbon-cutting ceremony for its first phase on June 24, 2025. Located at 281 N. Montgomery St. in Memphis's Medical District, it marks the first completed project under the city's Middle-Income Housing Pilot Program (MI-Pilot).

The MI-Pilot program, launched by the Division of Housing and Community Development, supports developers creating or rehabilitating housing for households earning 80% to 120% of Memphis's median household income. A 2024 Census report places the median household income in Memphis at $51,736. The Division of Housing and Community Development contributed $500,000 in grants and loans to the project.

Memphis Mayor Paul Young described the target demographic, stating, "They earned too much to qualify for traditional housing assistance, but not enough to comfortably afford many of the housing options that were out there on the market." He added, "They deserve the opportunity to live comfortably in the communities where they actually serve." Young also noted the city aims to create 10,000 new housing units by 2030. "Many of you may know that over the past 25 years, we've lost about 35,000 people, in terms of our population," Young said. "Part of our strategy to grow our population is to ensure that we have a diverse range of housing options available for people."

The BelleMont community is situated on 2.5 acres near the Crosstown cultural district. It features one-bedroom and two-bedroom rental homes built around shared green space, including front porches, grilling areas, a firepit, and space for a community garden. KPS Development Partners used a combination of public incentives, private investment, community development financial institution loans, and crowdfunding for the project.

Scott Kern of KPS Development Partners said construction on the second phase is expected to begin later in 2025. The initial phase includes 19 one-bedroom units and four two-bedroom units on one acre. "The neighbors have embraced us," Kern said. "We could have done two- or three-story walk-up apartments. This felt more contextual, more respectful of the neighbors, as opposed to dropping a big building in their neighborhood." Kern added, "Real estate development is more than numbers and buildings. It is ministry work."