We’re proud to announce that Samaritan Recovery Community has partnered with us at Holladay Ventures and our local development partner, Evergreen Real Estate to create Shelby House, a redevelopment project consisting of a mix-use of 484 affordable housing units, including a 71,000 square-foot recovery services center for the nonprofit. The Shelby House is expected the break ground in December 2021.
“The goal of this collaboration is to help Samaritan Recovery Community provide quality treatment and recovery supportive services while guiding a pathway to permanently affordable housing in a modern facility,” said Evan Holladay, founder and CEO of Holladay Ventures. “The need for high-quality, affordable housing has never been more urgent, and we are looking forward to seeing this project come to life.”
Shelby House will provide 132 beds for Samaritan Recovery Community’s rehabilitation services in addition to 484 new construction affordable apartments over two phases (with 195 units in phase one)— phase one is reserved for families earning anywhere from 20 percent area median income (AMI) up to 80 percent AMI. Samaritan Recovery Community’s program graduates will have first-come, first-serve access to these units when possible.
“We have the unique opportunity to provide an improved housing path for individuals transitioning out of rehabilitation housing into affordable housing,” said Deana Crossley, executive director of Samaritan Recovery Community. “Shelby House will not only create a new facility for Samaritan Recovery Community but will allow us to double our existing capacity of individuals we serve.”
Shelby House is located where Samaritan Recovery Community has operated for more than 50 years in East Nashville, mainly serving indigent, homeless and unemployed individuals through substance abuse recovery services. Since 1964, Samaritan Recovery Community has created an environment that strives to preserve and promote the dignity of the persons served.
“SRC has been searching for the right development partner to execute our vision of building a new facility, while also creating an affordable housing opportunity for the Nashville community,” said Todd Friedenberg, Chairman of Samaritan Recovery Board of Trustees. “Our partnership with Holladay and Evergreen for Shelby House furthers SRC’s mission to provide highest quality of care for people who are struggling with addictions, including chemical dependency and other co-occurring disorders, in the Nashville and Middle Tennessee area.”
Investment and development firm Evergreen Real Estate, in collaboration with Holladay Ventures, an affordable housing development and acquisition company, have more than 20 years of combined experience expanding and managing affordable housing in Nashville and throughout the state of Tennessee. Together, the two businesses will oversee the two-phase development alongside Samaritan Recovery Community.
With the redevelopment project’s phase one expected to be completed by Fall 2023, the plan allows Samaritan Recovery Community to remain operational throughout the entire redevelopment.
The Shelby House has widespread support and backing from the Tennessee Housing and Development Agency, MDHA, the National Housing Trust Fund, the Mayor’s Office, The Housing Trust Fund Commission, Council Member Brett Withers, State Representative Harold Love, State Senator Brenda Gilmore and more.
“The City of Nashville welcomes the Shelby House development and we see this serving as a powerful gateway into East Nashville. This project will help maintain affordability along a quickly changing and rapidly gentrifying corridor,” said Council Member Brett Withers. “Shelby House serves as a pivotal step for Metro Nashville, and to complement the future redevelopment of the East Bank.”
The deal was brokered by Phil Ryan with Village Commercial.
For more information reach out to us at info@holladayventures.com or visit samctr.org, holladayventures.com, and evergreenrealestate.com.
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, outpatient services and DUI schools. The mission of 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.
About Holladay Ventures
Holladay Ventures specializes in creating and investing in workforce, affordable and mixed-income communities. The company’s mission is to create quality housing opportunities and empower the residents to realize their full potential. Founder and CEO Evan Holladay is a real estate developer and investor with over $225 million and 1,347 units of multifamily real estate developed or invested.
About Evergreen Real Estate
Evergreen Real Estate 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.
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