The construction of Ewing Heights in Tennessee by LDG Development has started at 334 Ewing Drive. This comes approximately 1 year after the 11.8-acre site was acquired by LDG in February 2022. The sale was mediated by Capstone Partner & Production Head Adam Klenk and Senior Advisor Austin Heithcock.
The project whose planning, civil engineering, and landscape architecture services will be offered by Catalyst Design Group, will likely cost $79.6M. The Tennessee Housing Development Agency provided 4% LIHTC and tax-exempt bonds, while Amazon’s Housing Equity Fund contributed $13.5 million.
The LIHTC funds were syndicated by Berkadia Affordable Housing, while RedStone Tax Exempt Financing conducted a private placement bond deal. Moreover, 10 years of tax exemptions were awarded by the City and MDHA through the PILOT program.
This is LDG’s sixth project statewide and its fifth in Nashville.
An overview of Ewing Heights in Tennessee
The 190-unit affordable housing development is anticipated to be operational in 2024 after a 28-month construction period. It will comprise 180 two- and three-bedroom apartments as well as 10 three- and four-bedroom townhomes. The units will feature walk-in closets and energy-efficient appliances.
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Residents will also have access to an onsite pool and a business center. In addition, they’ll enjoy a fitness center, a clubhouse, a dog park, a playground, and parking spaces. The development’s location is close to the junction of Interstates 24 and 65.
This will enable easy access to downtown Nashville. Moreover, residents will have access to multiple shopping and food establishments. The TriStar Skyline Medical Center and Parkwood Park are all 2.4 miles from Ewing Heights in Tennessee.
In prepared remarks, Councilwoman Kyonzte Toombs stated that the project will contribute to transportation and infrastructure improvements. These include resurfacing the walkways and constructing two new bus shelters.