Properties

Dickson Gardens

Dickson, TN

Property Type:
LIHTC
Total Development Cost:
$6,704,000
Financing Structure:
Bank of America
LIHTC Units:
48
AMI:
Market Rate Units:
Completion Date:
April 2013

Dickson Gardens is a 48-unit property located in Dickson, TN. The property consists of 48 one and two-bedroom elderly apartments and one office/community building. Each apartment is between 700 and 1000 square feet plus a front porch and back patio.
Each apartment is equipped with a stove, vent hood, refrigerator, dishwasher, disposal, microwave oven and central heat and air conditioning. In addition a washer and dryer hook up is provided in every apartment as well as ceiling fans. All of the appliances are ENERGY STAR rated. The exterior is constructed of brick and/or vinyl siding.
The property includes a picnic area and a community facility all for the exclusive use of the residents.
The Dickson Gardens property will be built to cater exclusively to the elderly. The rent structure of the property is governed by the IRS Section 42 rules and is restricted to residents earning at or below 60% of the area median income.
Preference is shown to qualified residents that are on the Public Housing Authority’s waiting list.