Tuesday, May 16, 2017

Renovation Complete at 42-Unit Affordable Housing Community in North Tennessee

Michael Gaber
CELINA, TN – WNC, a national investor in real estate and community development initiatives, announced the renovation of Southern Oaks Apartments, a 42-unit affordable housing community in Celina, Tennessee, has been completed. WNC provided approximately $3.1 million in low-income housing tax credit (LIHTC) equity to fund the rehabilitation project.

“With the demand for affordable housing continuing to grow across the nation and outpace the development of new stock, it’s increasingly important to preserve and protect existing LIHTC communities,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. “We are very pleased to announce the renovation of Southern Oaks Apartments, which provides quality, safe affordable homes to families in need.”

Located at 1001 Gainesboro Highway, Southern Oaks Apartments is comprised of eight resident buildings and a clubhouse. Community amenities include a laundry facility, computer center, playground and picnic area.

Southern Oaks Apartments is available to families with incomes at 50 percent and 60 percent of the area’s median household income level.

CMS Real Estate Development LLC served as the developer for the renovation project.

 For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172 ext. 703

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