News

Development brings much needed housing to area undergoing revitalization

(Nashville, TN—) Working families living and working in north Nashville will soon have more housing options thanks to a new development that is under construction.  Located at 334 Ewing Drive, Ewing Heights will have 180 two- and three-bedroom apartment homes and 10 three- and four-bedroom townhomes for families earning between 40-80 percent of the area median income, or up to almost $75,500 for a family of four.

According to Councilmember Kyonzte Toombs, who represents the area, the addition of the new housing to District 2, builds on the momentum of attracting investments into the area.

“Ewing Heights is an example of what can be achieved when all stakeholders work together to ensure we have a well- planned development that addresses the needs of current residents and also provides opportunities to new families seeking to relocate to the area,” said Toombs.

“The new housing Ewing Heights will provide, coupled with the transportation and infrastructure improvements—including new and improvement to existing sidewalks; and the addition of two new bus shelters to the area—will help to spur economic development and interest in the area.”

Ewing Heights will provide residents with spacious floor plans and a variety of amenities.  This includes walk-in closets, upgraded countertops and flooring; energy efficient appliances; fitness and business centers, a sparkling pool and a dog park. Chris Dischinger, co-principal and founder of LDG, says that the amenities that will be offered at Ewing Heights reflect the company’s commitment to provide amenities that match or exceed those typically found at a market-rate development.

“LDG was founded based on me and my long-time business partner, Mark Lechner’s, shared belief that everyone deserves a quality place to live,” said Dischinger. “We are committed to providing housing that residents are proud to call home and an environment in which they can thrive and realize their full potential.”

Estimated cost for Ewing Street is $79.6 million. Financing for the project was secured by 4% LIHTCs and tax-exempt bonds from the Tennessee Housing Development Agency. The LIHTCs were syndicated through Berkadia Affordable Housing with RedStone* Tax Exempt Funding providing a private placement bond transaction. Amazon’s Housing Equity Fund also awarded $13.5 million to the project. LDG also worked closely with MDHA and the city to grant a 10-yr PILOT for the project.

Construction is expected to span over the next 28 months, and the first units are expected to be available by the middle of next year.

Ewing Heights will be LDG Development’s fifth development in the Nashville area and the sixth development in Tennessee.

Dischinger says that as Nashville continues to grow, the demand for housing will also continue.

“Housing is an economic development issue and being able to attract a well-trained workforce is dependent on a city’s ability to address the affordable housing shortage,” said Dischinger. “Nashville and its leadership have been steadfast in their support for more affordable housing and developing solutions designed to meet this growing need.  Long-term, we believe this will allow Nashville to continue to be a place that businesses thrive, and residents are proud to call home.”

For more information about Ewing Heights and LDG, please visit www.ldgdevelopment.com.