Memphis leaders say the city’s next big growth priority is housing: a goal to build or renovate 10,000 homes by 2030. Mayor Paul Young announced the target during his State of the City address, framing it as a push for more housing options—especially in the city’s core. 

What Memphis actually announced

Local reporting and city messaging describe the goal as a mix of new construction plus renovations—not only building new homes, but also improving existing housing stock to increase livable, attainable supply. 

The city has also signaled that reaching 10,000 units may involve policy changes that expand what can be built in more neighborhoods—often described as adjusting “rules,” which typically points to zoning and development standards. 

The City’s MI-Pilot guidelines state “One million dollars ($1,000,000) is available to be awarded in Year 2,” split $650,000 for rental projects and $350,000 for for-sale projects. 

Two city programs tied to the housing push

Memphis’ Housing & Community Development division has launched (and is actively promoting) tools meant to reduce early project friction—especially for infill and “missing middle” style housing.

1) Middle-Income Housing Pilot (MI-Pilot)

The city’s MI-Pilot program supports projects where units are attainable for households earning 80–120% of Area Median Income (AMI). It can fund construction or rehab/conversion of 2–10 unit multifamily and infill multifamily, and assistance is provided as a loan; homes can be for sale or rent. The city lists the MI-Pilot application window as opening February 3, 2026 and closing March 27, 2026. 

2) Pre-Development Assistance Grant

Memphis also offers a pre-development grant program (up to $20,000) to help cover early infrastructure and readiness costs such as site work and utilities, aimed at increasing housing production capacity inside the city. 

What to watch next

The headline goal is simple, but execution will come down to specifics: where the units are targeted, how renovations are counted, what zoning/permit changes happen (if any), and how quickly funding tools translate into projects that break ground. 

How to Apply:

1) For the MI-Pilot (Middle-Income Housing Pilot)

What it is: City financing (structured as a loan) to support housing projects that serve households at 80–120% of Area Median Income (AMI). Housing may be for sale or rent.

Application window: Opens February 3, 2026 at 12:00 PM and closes March 27, 2026 at 4:00 PM.

Step-by-step

Go to the City’s MI-Pilot program page and open the application during the posted window. Follow the City’s posted MI-Pilot requirements and compile your submission package (project details + financials + supporting documentation). Submit your complete application before the deadline (March 27, 2026 at 4:00 PM).

Best practice: The City promoted an info session tied to these programs on February 3, 2026, which is useful for applicants who want to avoid avoidable submission errors.

MI-Pilot required documents checklist

501(c)(3) certification (if applicable) 

Commitment letters 

Budget Worksheet 1: Agency budget (or for-profit: most recent audit) 

Budget Worksheet 2: Project budget 

Project budget justification narrative 

Pro forma 

Needs assessments / market study 

Development team documentation (as listed) 

Documentation of site control  

2) How to apply for the Pre-Development Assistance Grant (up to $20,000)

What it is: A City grant program (up to $20,000) to help developers cover early costs like site work and utilities so projects can move faster.

Timing: Opens February 3, 2026 at 12:00 PM and remains open until funds are exhausted.

Step-by-step

Start on the City’s Pre-Development Assistance Grant page and follow the posted instructions to begin the process. Read and follow the City’s grant guidelines before you incur costs (this is where timing/eligibility rules are spelled out). Apply early—this program stays open only until funding runs out.

Quick comparison (for readers)

MI-Pilot = loan program for housing attainable at 80–120% AMI, with a defined application window.

Pre-Development Grant = up to $20,000 to reduce upfront barriers like site/utilities, open until funds are exhausted.

FAQ

Did Memphis say “build” or “build and renovate”? Build and renovate—local coverage describes the goal as a combination. 

What income range does MI-Pilot target?

Units must be attainable for households earning 80–120% AMI. 

How much is the pre-development grant?

Up to $20,000 for eligible pre-development costs. 

Is this for investors or primary homeowners?

Mostly investors/developers, not primary homeowners. The MI-Pilot guidelines explicitly say private individuals/homeowners are not permitted to receive direct MI-Pilot funding