Modernizing a Legacy Property to Sustain Family Housing in Knoxville

Located in a wooded, amenity rich neighborhood in Knoxville, Tennessee, Pine Ridge is an affordable family housing community consisting of 125 units.  When Evergreen acquired the property, it had not been substantially rehabbed in over 40 years. With careful consideration and creative design, Evergreen invested significant capital in the rehabilitation for both interior and exterior work.  Financing included an award of competitive 9% Low-Income Housing Tax Credits.  In addition to the enhanced physical features upon syndication of the property, Evergreen committed to expanding affordable restrictions on all of the units, extending the property’s long-term affordability.