Affordable Housing Site & Deal Criteria

We seek opportunities to provide massive value where we have a competitive advantage

Number One Criteria!

Potential development and acquisition deals being located in areas where the community and city leaders have a shared mission of providing affordable, attainable, workforce and mixed-income housing and investing political and financial capital into incentivizing and helping create higher quality mixed-income communities!

Where we invest & develop

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Core Markets

Core States: TN, FL, TX

Core Cities: Nashville MSA, Tampa MSA, Austin MSA

Secondary Markets: KY, NC, SC, GA, AL, LA

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In Major Metros of 80k+ population

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Strong growth trends for job creation, wages, and population growth

Development Site Criteria

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10+ acres for suburban communities

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Zoned land for 200+ units is ideal

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4+ acres for urban communities

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Highly preferable to be in a QCT/DDA, but not required (QCT = Qualified Census Tract, DDA = Difficult to Develop Area)
QCT/DDA Map

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Near major corridors, shopping, retail, job centers, schools

Affordable Acquisition Criteria

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Size: 70+ units, ideally 200+ units or portfolios

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Class: C+ to B properties in B+ or better locations

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Value Add Potential – Mismanagement, Deferred Maintenance, etc

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Preferable long-term HUD loan in place and/or long-term non-profit ownership of 10+ years

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Affordable housing component: HAP (Sect 8 contract) or in LIHTC compliance period preferable

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Well located, underperforming, and/or value-add

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Cash Yield: 8-12% COC returns

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Vintage: 1970 or newer

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Near major corridors, shopping, retail, job centers, schools

Holladay Ventures Headquarters Office Space / Mixed-Use Criteria

(Nashville, TN only)

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In a redeveloping part of town, preferably an opportunity zone.

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In need of love/attention – either building updates or reinventing the use (i.e. industrial into office/mixed-use)

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Ability to pay for itself and ideally make money from other renters

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Mixed-use – office, airbnb, event space, retail

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Plenty of extra space for HV to expand, and for other renters/uses to help pay for mortgage

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Near highway and not in high traffic area

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Not too far from downtown, convenient to get to from all directions of town

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Ideally has coffee shop and lunch options nearby

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Event space to host meetups, and other larger crowds 50-100+ people

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Ideal locations: Beuna Vista, North Nashville, Charlotte Pike, WEHO, East Nashville close to downtown side, Lebanon Pike/Hermitage Ave area

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Ideal price $500k to $1.5mm

Non-Profits

We have also worked with non-profit partners who own land that could be an ideal location for workforce housing, and share a mission of helping workforce and disadvantaged communities, and would like to unlock the true potential of their land, as well as creating impact and cash flow for their non-profit operations.