Urban League of Middle Tennessee Partners for Affordable Housing Development

NASHVILLE (Jan. 22, 2024) – The Urban League of Middle Tennessee (Nashville, TN) has partnered with Cypress Real Estate Advisors and Halladay Ventures for the redevelopment of McFerrin Park apartment community.

The complex, formerly RiverChase, is set to commence this month, with plans for a 140-unit affordable housing property catering to individuals earning 30-80% of the Nashville area's median income. The project is part of a larger 1,150-unit redevelopment approved for rezoning by the Metro Council in November 2022.

Holladay Ventures is the developer of the affordable housing component, with assistance from the Urban League. The Urban League's involvement aligns with broader efforts to address affordable housing needs in the Nashville community. The development follows the demolition of the old apartment building in late 2022, a move that faced opposition from some community members concerned about the impact on displaced renters and the scarcity of affordable housing options in Nashville.

The 140 units to be developed will be distributed across different income brackets, including 52 units for residents earning less than 80% of the area's median income. Additionally, the building will house an "Empowerment Heart" managed by the Urban League, which will offer educational and employment services.

To get more information, please see the original article here.