Developers have moved forward on a 251-unit affordable housing development that is being built with artists in mind in Nashville, Tennessee.
Holladay Ventures and nonprofit Arts & Business Council of Greater Nashville (ABC) have started construction on the ambitious project.
“We’re striving to establish a model community that serves the creatives who make Nashville special while also tying it to Nashville’s need for transit-orientated development, on-site child care, walking trails, as well as spaces and amenities for artists of all disciplines to work on their craft,” said developer Evan Holladay, founder and CEO of Holladay Ventures.
The Opaline at Artist Hill will be home to residents earning up to 60% of the area median income.
The property has been occupied by Lotus Learning Center, an early childhood education center. As part of the construction, Holladay Ventures will build Lotus a new, larger 4,000-square-foot facility on the grounds.
In addition, Opaline will include space for resident services, studios, and makerspacers.
ABC is consulting on the design of the creative spaces and will facilitate its nationally recognized programming on site once the development opens in early 2028. The organization plans to offer education workshops, legal clinics, and opportunities for cross-disciplinary collaboration among the art and business communities.
“Our research shows more than 25% of local artists are considering leaving the area due to rising housing costs and lack of space to create. The Opaline is telling artists, ‘You belong here, and your creativity matters to the future of this city,’” said ABC executive director Jill McMillan Palm.
The development is the first of an expected three phases for Artist Hill, a 38.8-acre master plan that is projected to include rental and first-time homeownership opportunities, retail, creative workspaces, green spaces, walking trails and other community amenities. Local officials have committed to delivering a new transit center adjacent to The Opaline.
Holladay Ventures announced that it has closed on financing for the project, which is utilizing 4% low-income housing tax credits and tax-exempt bonds from the Tennessee Housing Development Agency. Other public and private funding partners include Amazon, Barnes Housing Trust Fund, Metropolitan Development and Housing Agency, Metro Nashville Office of Housing, U.S. Bancorp Impact Finance, Citi Community Capital, Stifel Public Finance, and Truist Bank.