diff --git a/platformio/project/options.py b/platformio/project/options.py
index 51611d24..f256157f 100644
--- a/platformio/project/options.py
+++ b/platformio/project/options.py
@@ -240,6 +240,17 @@ ProjectOptions = OrderedDict(
                 default=os.path.join("${platformio.workspace_dir}", "libdeps"),
                 validate=validate_dir,
             ),
+            ConfigPlatformioOption(
+                group="directory",
+                name="memusage_dir",
+                description=(
+                    "A location where PlatformIO Core will store "
+                    "project memory usage reports"
+                ),
+                sysenvvar="PLATFORMIO_MEMUSAGE_DIR",
+                default=os.path.join("${platformio.workspace_dir}", "memusage"),
+                validate=validate_dir,
+            ),
             ConfigPlatformioOption(
                 group="directory",
                 name="include_dir",