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The development proposal focuses on acquiring and redeveloping Georgian Woods Apartments in Midtown Memphis, aiming to leverage the city's thriving real estate market. For an equity investment of $3 million, it boasts an anticipated 45% return and a projected net present value of $10.6 million over five years. The proposal underscores a notable demographic shift from suburbs back to urban areas, which has already been observed in Memphis, particularly after the revitalization of the downtown submarket in the late 1990s and early 2000s. This initiative presents an extraordinary chance to be a frontrunner in the multi-family real estate sector within a desirable, high-barrier-to-entry location.