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Location
Franklin, Tennessee
Summary
Chickasaw Senior Community development is a 48-unit residential facility for senior residents. This project is comprised of 43 one-bedroom and 5 two-bedroom units, 22 of which are RAD Project- Based. Voucher units. 12 of the RAD PBV units will be National Housing Trust Fund (NHTF) units. The building is located on 2.33 acres of vacant land in the heart of Franklin, TN and owned by the Franklin Housing Authority. The vacant land is located at the end of Chickasaw Place and is adjacent to 6 public housing buildings set for demolition. In addition to the Chickasaw Senior Community project, the overall redevelopment plan of Chickasaw Place includes a future phase of constructing single family and duplexes/condos available for homeownership once the demolition of the public housing buildings is complete.
Benefits & Innovation
Chickasaw Senior Community offers eight of the 48 units as handicap accessible, 38 are handicap adaptable and 2 are hearing and visually impaired adaptable. Within the Chickasaw Senior Community, low-income residents in NHTF units are integrated with residents at 50-60% of AMI in the remaining LIHTC units (non-RAD PBV), creating a mixed-income building, As this area experiences gentrification with older homes being torn down and replaced with larger, more expensive houses, residents will be a part of a mixed-income neighborhood as well.
The Chickasaw Senior Community is a new development, built on vacant land with a mix of LIHTC, RAD Project Based Voucher units which were transferred from another site, and NHTF units. The transfer of assistance of the RAD units from another site is innovative in that it is not common on most projects but we believed this would provide even more affordable units to low income residents. The development of the site was innovative in that it was placed in such a way to maximize the view of the tree line between the site and the adjacent city park with a walking trail connecting to the park to provide residents with easy access to the park. This increased the cost of the project but was believed to have increased the enjoyment of the residents. The different funding on the project is also innovative with LIHTC, CDBG, cash from FHA, and NHTF.
Funding
630 Eye Street, N.W.
Washington, D.C. 20001
(202) 293-5820
