NASHVILLE, TN - Miller-Valentine Group worked with RBC Capital Markets, Bank of America, the Tennessee Housing Development Agency (THDA), and the City of Gallatin to bring this amazing project to fruition. Gallatin Park Apartments has the look and feel of a luxury apartment community, but provides these spacious garden-style homes at very affordable rates. The affordable rents were made possible through an efficient financing package, which included Section 42 Housing Tax Credits and subordinated financing from the THDA.
Gallatin Park Apartments has already boosted the local economy by providing approximately $3.8 million in income for the local economy. This includes wages for workers and revenue for local proprietors, small businesses, and corporations. In addition, Gallatin Park Apartments will generate approximately $400,000 in taxes and other income to the local government and has created 59 new jobs.
Dave Liette, President of Miller-Valentine Residential Development, said that the company is excited to bring 48 quality workforce apartment homes marketable to moderate income families in the expanding economy of Gallatin. Liette explained, “Gallatin Park Apartments allows the growing businesses in the Gallatin market to have local affordable housing options for their valued employees. We are enthusiastic and privileged to serve the families in and around the City of Gallatin and prove to them that our passion is to positively impact their lives.”
Miller-Valentine Group has been dedicated to quality, value and service with vertically integrated companies offering total real estate solutions in the areas of Design/Build Construction, Development, Management, and Financing for both residential and commercial markets.
Source: Miller-Valentine Group / #Multifamily #Apartments