CLEABORN POINTE AT HERITAGE LANDING
Cleaborn Pointe at Heritage Landing is a 106-home affordable family rental community in Memphis, TN. Each one-, two-, three-, and four-bedroom townhome boast spacious floor plans, fully-equipped kitchens with dishwasher, washer and dryer, extra storage, and resident-controlled heating and cooling. There are also many community spaces, including a computer room, resident clubhouse, fitness center, playground, picnic area, professionally landscaped grounds, and on-site management and maintenance.
In 2009, the joint venture Development Team of Pennrose, Duvernay + Brooks and Community Capital, LLC teamed up with the Memphis Housing Authority on a $76 million HOPE VI Redevelopment effort of the former Cleaborn Homes public housing project. The key to the award of the $22 million HOPE VI grant for Memphis was the strong partnerships and commitment of the community. The development team secured the financial participation of numerous community partners for the dramatic revitalization of Cleaborn Homes and secured financing commitments that leveraged the $22 Million in HOPE VI funds by more than 3:1. All homes developed with the 9 percent Low-Income Housing Tax Credit (Housing Credit) serve individuals with incomes at or below 60% AMI.
This property was made possible by the Low-Income Housing Tax Credit (Housing Credit).