Renovation Adds Affordable Housing in Clarksville
THDA, City celebrate grand reopening apartments
CLARKSVILLE, Tenn. – Miller Town Apartments celebrated a grand reopening Wednesday after renovating all 96 apartment homes, thanks in part to funding assistance from the Tennessee Housing Development Agency.
The apartments are on Jack Miller road near Fort Campbell and feature two and three-bedroom apartment homes with modern kitchens, an outdoor pool, a playground and a community room.
“Miller Town is a beautiful example of what affordable housing looks like in Tennessee,” said THDA Liaison Denise McBride, who helped cut the ribbon at the celebration. “THDA is proud to be a partner in projects like this that provide quality, affordable housing in Clarksville.”
The renovation of Miller Town Apartments was financed in part with $5.3 million in tax exempt multi-family bonds and a $229,000 low income housing tax credit allocation, which equates to almost $2.3 million in tax credit equity for a 10-year period. In Tennessee, the bond authority and the housing credit programs are administered by THDA.
"Clarksville needs affordable housing, and these kinds of projects help tremendously by increasing the amount of good options for working people," said Keith Lampkin, Director of Clarksville's Office of Housing and Community Development. “We are always ready to work with THDA and housing developers to add affordable workforce housing.”
These programs were created to help private sector developers finance the construction or preservation of affordable rental housing. In exchange for using the THDA financing to help cover construction costs, apartment communities must keep rent affordable to Tennessee families of low income.
“We’re thrilled with the results of the investment we’ve made in renovating Miller Town Apartments, and we’re proud to help ensure a high quality of life for the families who live here,” said Highmark Holdings Managing Director and Enfield Management President Robert King.
Miller Town Apartments is owned and was renovated by Highmark Holdings LLC and is operated and managed by Enfield Management.