Completed 140-unit residential project in East Nashville is grounded in sustainability, affordable living and community empowerment
NASHVILLE, Tennessee (August 26, 2026) — Development partners Holladay Ventures, a local leader in affordable housing development, and the Urban League of Middle Tennessee celebrated the completion and grand opening of Park24, a transformative 140-unit mixed-use community located at 660 Joseph Ave. in the McFerrin Park neighborhood, on August 26.
“We believe a quality home in a thriving community should be within reach for everyone,” said Evan Holladay, founder and CEO of Holladay Ventures. “Park24 fulfills our promise to create quality, affordably priced housing while offering supportive services that empower the entire community.”
Added Holladay, “McFerrin Park is evolving rapidly, thanks to significant nearby investments such as the new Nissan Stadium, the East Bank neighborhood, and Oracle. The opening of Park24 ensures that people at every income level will continue to have a home in this charming and historic neighborhood, with its easy access to public transit, exciting new restaurants and retail, and walkable, tree-lined streets.”
The new development, which provides high-quality housing options for people earning 30-80% of the area median income (AMI), is already 81% leased. The project was developed jointly by Holladay Ventures and the Urban League of Middle Tennessee (ULMT), with funding from the Amazon Housing Fund, and support and financing from U.S. Bancorp Impact Finance and Cedar Rapids Bank and Trust. The project also received a $2 million grant from the Barnes Fund for affordable housing, and was developed in consultation with community partners including ULMT, Pillars Development, PATHE, and the McFerrin Park Neighborhood Association.
“As Nashville continues to grow and the neighborhoods around the East Bank take shape, we’re investing in projects to keep Nashville affordable for our longtime residents,” said Mayor Freddie O’Connell. “All Nashvillians deserve the dignity of stable housing. I appreciate Holladay Ventures and the Urban League of Middle Tennessee for making it a point to consider the wishes and future needs of the Park24 community and its neighbors.”
Empowerment Center Enhances Project
A 2,200-square-foot Empowerment Center is operated on site by ULMT, focused on community enrichment, workforce development, and education for Park24 residents and the surrounding community. “Our mission at the Urban League is to empower communities and change lives, so Park24 was an obvious project for us to be a part of and help nurture,” said Aron Thompson, V.P. of Housing and Economic Development for ULMT and Executive Director of Real Estate Developer Academy. “It’s a particular point of pride that fellows from RED Academy were involved in the development process for this project, helping make sure the finished building meets the needs and wishes of the community who live there.”
Added Thompson, “The immediate early success of Park24 proves there is a need for more such projects in Nashville. We look forward to working with the residents of this innovative, sustainable, affordable community for many years, and we hope to see more visionary developments like this one in the future.”
In addition to affordable residential units, community resources and program spaces, Park24 features numerous sustainability measures, including a 174 kW array of solar panels across the roof, resulting in the project receiving Enterprise Green Community Certification.
Leading Partners Help Bring Park24 to Life
The housing development has received broad civic backing since its announcement, with strong support from the Mayor’s Office, the Metropolitan Development and Housing Agency (MDHA), Tennessee Housing Development Agency, Metro Council, the McFerrin Park Neighborhood Association, and District 5 Metro Councilperson Sean Parker.
U.S. Bancorp Impact Finance, the community development division of U.S. Bank, provided a tax credit equity investment and construction loan to support the development. “With Park24, Holladay Ventures is addressing local housing needs while delivering long-term value for residents,” said Lisa Gutierrez, Senior Vice President and Director of Business Development, Affordable Housing at U.S. Bancorp Impact Finance. “We’re pleased to support this effort with tax and construction financing that helps bring quality, affordable homes to Nashville.”
Michelle Brown, senior public policy manager at Amazon, added, “At Amazon, we believe everyone should have access to a home they can afford. Park24 is a powerful example of what’s possible when the public and private sectors work together to bring affordable homes near transit and jobs for working families. We’re energized by what Holladay Ventures, the Urban League, and local leaders have built here in East Nashville.”
Park24 offers one-, two- and three-bedroom apartments that range from $653 to $2,415 per month, with convenient access to downtown, the in-progress East Bank redevelopment, and public transit corridors. The project also includes 2,500 square feet of commercial space available for a local business, coffee shop or other retail operation. East Nashville-based commercial real estate firm The Cauble Group is responsible for leasing the commercial space — details are available at Cauble’s website.
About Holladay Ventures
Founded by Evan and Jined Holladay, Holladay Ventures is a Nashville-based affordable, attainable, and mixed-income housing development company that partners with cities, state agencies and non-profit organizations to create quality housing opportunities and a positive impact on local communities, residents, and the environment. Holladay Ventures has been recognized through awards such as the 2025 Tennessee Housing Development Agency’s Tennessee’s Best Award for Middle Tennessee, a national 2025 Readers’ Choice Award from Affordable Housing Finance, plus three Nashville Entrepreneur Center NEXT awards in 2022, 2023 and 2025.
About Urban League of Middle Tennessee
The Urban League of Middle Tennessee is a historic civil rights organization dedicated to economic empowerment, equality, and social justice. Founded in 1968 and headquartered in Nashville, the Urban League collaborates at the local level with community leaders, policymakers, and corporate partners across Middle Tennessee to elevate standards of living for African Americans and other historically underserved groups.
The Urban League of Middle Tennessee’s mission is to help African Americans and others in underserved communities achieve their highest true social parity, economic self-reliance, power and civil rights. The League promotes economic empowerment through education and job training, housing and community development, workforce development, entrepreneurship, health, and quality of life.
###