Financing for Major Public Housing Redevelopment in Knoxville, Tennessee

We represented Knoxville’s Community Development Corporation as borrower’s counsel and developer’s counsel in connection with the approximately $22 million financing for Phase 2 of the redevelopment of the Western Heights community in Knoxville, Tennessee. The multi-phase project will revitalize Knoxville’s oldest public housing development, ultimately delivering approximately 480 units of mixed-income housing and supported in part by a $40 million Choice Neighborhoods grant from the U.S. Department of Housing and Urban Development.

Phase 2 includes a mix of affordable and market-rate units, community service space, and a commercial component. The commercial space will include approximately 15,000 square feet of mixed-use space featuring the Knoxville Arts Center, a health center operated by The University of Tennessee Medical Center, and a Knoxville Police Department substation.

We represented Knoxville’s Community Development Corporation as borrower’s counsel and developer’s counsel in connection with the approximately $22 million financing for Phase 2 of the redevelopment of the Western Heights community in Knoxville, Tennessee. The multi-phase project will revitalize Knoxville’s oldest public housing development, ultimately delivering approximately 480 units of mixed-income housing and supported in part by a $40 million Choice Neighborhoods grant from the U.S. Department of Housing and Urban Development.

Phase 2 includes a mix of affordable and market-rate units, community service space, and a commercial component. The commercial space will include approximately 15,000 square feet of mixed-use space featuring the Knoxville Arts Center, a health center operated by The University of Tennessee Medical Center, and a Knoxville Police Department substation.