Dominium Announces the Closing of Land to Build a New Affordable Housing Development in Nashville, Tennessee

900 at Cleveland Park is the housing developer’s second new construction project in Tennessee

Dominium, a leading affordable housing owner, developer, and manager, announced today the closing of the land sale to construct a new 7-story affordable housing development located at 900 Dickerson Pike, just north of downtown Nashville.

This is Dominium’s second new construction project in Tennessee. Once constructed, the $90,000,000 development, which will be named 900 at Cleveland Park, will provide 256 units of high-quality affordable housing to the City of Nashville and offer residents an unparalleled view of downtown Nashville from a rooftop common space.

The project was financed using a Freddie Mac TEL serviced by Greystone, construction and equity bridge loans from JP Morgan Chase, and an equity investment in the 4% low-income housing tax credits from Polaris Capital. In addition, Dominium received support from the Tennessee Housing Development Agency in obtaining 4% Low Income Housing Tax Credits, and from the Industrial Development Board of the Metropolitan Government of Nashville & Davidson County in allocating tax-exempt bonds.

Development partners include the Metropolitan Development Housing Authority of Nashville, the Tennessee Department of Revenue, The Partnership Inc., WD Construction, Smith Gee Studio, Catalyst Design Group, Colliers, Winthrop & Weinstine, and First American Title.

Dominium is grateful for these partners who made it possible to close this transaction and to all who will be involved in this important project in the future.