The Nashville Chapter of Urban Land Institute (ULI) held its annual Excellence in Development awards in late April recognizing the developments in Middle and East Tennessee that demonstrate exceptional innovation and impact on the community or within their product type. This is the first year that projects from East Tennessee were included among the 15 projects that were nominated. ULI recognized seven projects as winners due to their demonstration of meeting market demands, achieving outstanding design, reflecting ULI’s priorities, and addressing community needs.
The First Creek at Austin Phase 1 in Knoxville was one of the projects chosen for recognition this year. Our public finance team represented Knoxville’s Community Development Corporation (KCDC) in connection with its $40 million financing for the development of the First Creek at Austin Phase 1, a 105-unit multifamily mixed-income housing development near downtown Knoxville. The project used Low Income Housing Tax Credits, Tennessee Community Investment Tax Credit financing, and conventional financing and is the first phase of a multi-phase redevelopment of the Austin Homes community in Knoxville.