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Airport-area apartment complex sells for about $15.8M

Airport-area apartment complex sells for about $15.8M
nashvillepost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nashvillepost.com Daily Mail and Mail on Sunday newspapers.

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In Nashville, Using Loan Guarantees to Fund Affordable Housing Preservation

“We did not see that the transformation [was] happening as quickly as it was happening,” he says.
Now, groups such as Urban Housing Solutions (UHS) are doing what they can to keep affordable apartments on the market. Last month, the group finalized a deal to purchase two apartment buildings between downtown Nashville and Nashville International Airport, with the goal of keeping all of their units affordable for the next 30 years. The acquisition is being financed with a $19.2 million loan from Regions Bank, and, for the first time in Nashville, four philanthropic foundations have agreed to commit portions of their endowments as collateral in order to guarantee the loan. The combined $2 million loan guarantee helped UHS close the deal more quickly, Elrod says. That’s an important leg up in a market where private investors with ready money already have a steep advantage. Typically, UHS and other nonprofit groups have to compete for property with for-profit groups that hav ....

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In the trending Nashville market, the Barnes Fund makes affordable housing possible

Metro Council agreed to offer more than $9 million in affordable housing and that has us digging deeper into how this money is used. ....

Alan Mazer , Metro Council , Woodbine Community Organization , Barnes Fund , Habitat For Humanity , Counsel For Urban Housing Solutions , Samaritan Recovery Community , Housing Solutions , General Counsel , Urban Housing Solutions , North Nashville , Housing Resources , Helping Hand , Mending Hearts , Music City , Levi Ismail , Affordable Housing , மெட்ரோ சபை , வூட்பைன் சமூக ஆர்கநைஸேஶந் , களஞ்சியங்கள் நிதி , வாழ்விடம் க்கு மனிதநேயம் , சமாரியன் மீட்பு சமூக , வீட்டுவசதி தீர்வுகள் , ஜநரல் ஆலோசனை , நகர்ப்புற வீட்டுவசதி தீர்வுகள் , வடக்கு நாஷ்வில்லி ,

Nonprofit buys airport-area apartments for $10M

Urban Housing Solutions pays $117K per unit after recent similar deal
Nashville-based nonprofit Urban Housing Solutions has paid $10 million for a South Nashville apartment complex, according to a Davidson County Register of Deeds document.
Located near Nashville International Airport and sitting on 3.9 acres, the property has an address of 300 Southwood Park Place. The 85-unit complex is called Southwood Park Apartments.
Of note, the transaction follows UHS having paid in December 2020 $9.2 million for Parliament Place Apartments, which sits adjacent to the just-purchase property at 831 Glastonbury Road (read more
The seller in the recent transaction was Southwood Park Partners, a related entity with which paid $50,000 for the then-raw land in 1985, according to Metro records. The apartments were constructed in 1986. ....

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