Shelby House Apartments to serve as a beacon of sustainable, affordable and accessible living
NASHVILLE, Tenn. (Oct. 29, 2024)— Holladay Ventures and Evergreen Real Estate, local leaders in affordable housing development, today celebrated the grand opening of Shelby House, a 195-unit affordable housing community. This community significantly addresses Nashville’s ever-growing need for quality and accessible housing options.
The ribbon-cutting ceremony, attended by local officials, community leaders and project partners, showcased the mixed-income apartment complex and marked the completion of the project’s first phase. Additionally, Holladay and Evergreen today announced the groundbreaking of the project’s second phase, “4th & Shelby,” a mixed-use development adjacent to Shelby House, which will bring an additional 289 units of affordable housing in 2026. In total, both projects will provide 484 affordable housing units to the Nashville community.
“This multi-phased project not only provides critical affordable housing but also connects residents to essential services and opportunities,” said Evan Holladay, founder and CEO of Holladay Ventures. “We believe this development will serve as a model for how thoughtful urban planning on a major transit corridor can enhance both quality of life for residents and sustainability in our cities.”
Phase two of the project, 4th & Shelby, will incorporate sustainable design features and modern amenities into its construction, setting a new standard for affordable housing in the neighborhood. Residents will benefit from energy-efficient appliances, solar panels, community spaces and convenient access to a major bus line, providing easy access to public transit to connect with the city’s amenities and job opportunities, as well as key destinations, including the new Titans stadium, the Tennessee Performing Arts Center and other developments from the city’s master plan.
Local nonprofit Samaritan Recovery Community (SRC), which has been providing comprehensive treatment facilities to Nashville for more than 60 years, partnered with Holladay Ventures and Evergreen Real Estate to redevelop its former campus at a new location, to be able to use its prior location for both the Shelby House and 4th & Shelby properties. SRC’s new, state-of-the-art facility remains separate from the residential and commercial portions of the project.
“Housing and transportation are the top two expenses in most households, and they’ve been our focus since my term began a year ago,” stated Mayor Freddie O’Connell. “New developments like Shelby House, with multimodal access points and mobility options, create a more livable city. More affordable housing is on the way for Nashvillians, and we congratulate Holladay Ventures, Evergreen Real Estate and their many partners for making it happen.”
Shelby House has widespread support and backing from the Tennessee Housing and Development Agency, MDHA, the National Housing Trust Fund, PNC Bank, the Mayor’s Office and Metro Office of Housing, The Housing Trust Fund Commission, Councilmember Clay Capp, Former Councilmember Brett Withers and many other community and elected officials.
“The success of Shelby House is a result of strong relationships between the private sector, government agencies and community organizations. Together, we’re addressing Nashville’s housing challenges head-on,” Holladay said.
The Metropolitan Development and Housing Agency (MDHA) played a crucial role in bringing Shelby House to fruition. “This development aligns perfectly with our mission to create affordable housing opportunities that enhance the quality of life for all Nashvillians,” stated Jamie Berry, MDHA chief of staff. “Shelby House will be a model for future affordable housing projects in Music City and beyond.”
PNC Bank, a key financial contributor to the project, also expressed enthusiasm for the impact of both projects. “As housing affordability continues to be a challenge for Americans across the U.S., we remain committed to leveraging our resources to increase and preserve the supply of affordable rental housing in Nashville and beyond,” said Mike D. Johnson, PNC regional president for Tennessee. “We look forward to witnessing the positive, lasting impact these projects will have on the residents of Nashville.”
Apartments at Shelby House and 4th & Shelby are reserved for families earning between 30 and 80 percent of the area median income (AMI), ensuring that the neighborhood remains inclusive and accessible to all.
Shelby House apartments are available to lease now. To learn more, visit https://shelbyhousetn.com/
About Holladay Ventures
Holladay Ventures specializes in developing and investing in workforce, attainable and mixed-income communities. The company’s mission is to create quality housing opportunities and a positive impact on local communities, our residents, and the environment. Holladay has been recognized through awards such as the 2022 NEXT Award for Emerging Company in Real Estate and the 2023 NEXT Award as a Market Mover, both presented by the Nashville Entrepreneur Center.
About Evergreen Real Estate
Evergreen Real Estate, founded by Aaron White and Hunter Connelly, provides value to investors, clients and communities by redeveloping and acquiring land to develop new mixed-use and residential neighborhoods. Based in Nashville, Evergreen has acquired and constructed over 1.5 billion dollars in residential and mixed-use projects and currently owns over 2,500 units in Nashville, Chattanooga, Knoxville, Louisville and Auburn. Evergreen principals have significant experience in a range of market and affordable multifamily, mixed-use and single-family developments, having developed and renovated more than 4,500 units.
About Samaritan Recovery Community
Samaritan Recovery Community is a comprehensive community-based treatment center in Nashville. Programs include alcohol and drug residential rehabilitation, co-occurring residential treatment services, halfway house treatment services, supportive housing services and outpatient services. The mission of the Samaritan Recovery Community is to provide the highest quality of care possible to people who are suffering from substance use disorders or co-occurring disorders in a safe environment.
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