Building Affordable Community-Centric Housing in Memphis: A Real Estate Developer’s Vision
- Building Affordable Community-Centric Housing in Memphis: A Real Estate Developer’s Vision Devin Thorpe 25:45
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Devin: What is your superpower?
Scott: I love working on things that have an impact.
Memphis, Tennessee, a city rich in culture yet facing persistent challenges, is seeing a transformative project rise in the Crosstown neighborhood. The Bellevue Montgomery project, led by Scott Kern, CEO of KPS Development Partners, is more than just another housing development. It’s a bold attempt to create affordable, community-focused homes while offering residents an opportunity to invest in their neighborhood.
The project’s design departs from traditional apartment complexes, offering a “cottage court” style with 11 buildings and 23 units built around a shared courtyard. As Scott explained, “The idea is that…you park your car, and as you’re walking to your front door, you’re passing two-thirds of your neighbors. So it really is about creating a communal space.” This layout fosters a sense of belonging, transforming the development into a hub for community interaction.
Bellevue Montgomery also addresses the critical need for affordable workforce housing. The units are priced for renters earning around 80% of the area median income (AMI), with rents for one-bedroom apartments set at $1,200—significantly below market rates. Scott emphasized the importance of this housing category: “It’s what we call workforce housing…nurses, students, firemen, teachers, etc.”
The project’s innovative financing approach also sets it apart. Instead of relying solely on institutional investors, Scott and his team chose to raise capital through regulated investment Crowdfunding. Hosted on the Small Change platform, this strategy allows community members to invest with as little as $1,000, democratizing access to real Estate opportunities. As Scott put it, “The idea that you can open up a project to the community, the neighborhood, the city, the county…was really appealing to us.”
The land itself, a former school site unused for over 50 years, symbolizes the revitalization of neglected spaces. With Bellevue Montgomery, Scott’s team is not only filling a physical gap but also stitching together a neighborhood with diverse residents and stakeholders.
Scott’s vision for Bellevue Montgomery is more than bricks and mortar; it’s a blueprint for impact. “We’re very keen on doing this within city limits…and providing value from the project we created,” he said. His commitment to community-driven development exemplifies how real estate can address societal needs while creating economic opportunity.
Learn more about the Bellevue Montgomery project and how you can support it at Small Change.
tl;dr:
* Scott Kern’s Bellevue Montgomery project transforms neglected land into affordable, community-focused housing in Memphis.
* The development prioritizes workforce housing for teachers, nurses, and first responders, filling a crucial gap.
* A courtyard design fosters community interaction, promoting a neighborly atmosphere among residents.
* Regulated investment crowdfunding enables community members to invest, democratizing access to real estate projects.
* Scott’s superpower, creating impactful developments, drives his mission to improve cities and lives.
How to Develop Creating Impactful Real Estate Projects As a Superpower
Scott’s superpower lies in leveraging real estate development to make a meaningful difference in communities. As he shared, “I want to have an impact…by filling up a vacant lot or providing an affordable product…making cities better.” His focus on thoughtful, high-quality projects demonstrates how real estate can transform neighborhoods and improve lives. By ensuring his work aligns with community needs, Scott creates developments that generate pride and lasting value.
When forming KPS Development Partners, Scott faced a pivotal decision: pursue easy, profitable Retail developments or focus on impactful projects. Rejecting the path of least resistance, he and his partners chose to prioritize community-enhancing developments like Bellevue Montgomery. As Scott explained, “At the end of the day, I didn’t want to pour my energy into [projects] when we could be pouring our energy into something that would…have a much more profound impact.”
Actionable Tips for Developing This Superpower:
* Align your work with values that prioritize community impact over personal gain.
* Surround yourself with organizations and individuals committed to doing good.
* Participate in nonprofit and community initiatives to stay connected with local needs.
* Use your talents to support causes beyond your professional scope.
By following Scott’s example and advice, you can make creating impactful real estate projects a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.
Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!
Guest Profile
Scott Kern (he/him):
CEO, KPS Development Partners
About KPS Development Partners: A Memphis-based commercial real estate developer focused on mixed-use and multifamily urban infill development projects.
Website: kpsdev.com/
Company Facebook Page: https://www.facebook.com/profile.php?id=61566058483737
Other URL: smallchange.co/projects/bellevue-montgomery
Biographical Information: Scott Kern started his career working as a development intern for LendLease/ERE Yarmouth on the 1997 redevelopment of Fashion Valley 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 Kern, 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.
Linkedin: linkedin.com/in/scott-kern-1b0899a/
Instagram Handle: kps_development
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