Grand Opening - Harriman Gardens Renovation

Ribbon Cutting to Mark Completion of Harriman Gardens Renovation

The public is invited to an open house and ribbon cutting ceremony at Harriman Gardens Apartments located at 925 Sewanee St. on Tuesday, Nov. 27 at 11 a.m.  The ribbon cutting will mark the official completion of a $6.8 million renovation for the 136-unit affordable rental housing community for seniors 62 and older and adults with disabilities.

The ribbon cutting ceremony will take place in the community room in Building A and will include brief remarks from local officials, refreshments and tours of renovated apartments.  Home Sweet Renovated Home is the theme for the Nov. 27 event.

“After finishing an extensive renovation of all 136 apartments and the property’s community rooms, offices and common areas, we’re ready to celebrate,” said Alvin Nance, CEO, LHP Development, a division of Knoxville-based LHP Capital which owns and manages the property.

“Quality affordable housing is desperately needed for senior citizens in every city, and we are proud to be a part of the effort to renovate and preserve the affordability of 136 beautiful, quality homes for Harriman residents,” said Nance.

The renovation of Harriman Gardens which began in 2016 is the result of a great deal of collaboration between the City of Harriman, Roane County and LHP, according to Alvin Nance, CEO of LHP Development and Management.  

The financing for the project included an $11.1 million FHA 221(d)(4) mortgage originated by Walker & Dunlop LLC.  The Tennessee Housing Development Agency made federal tax credits and tax-exempt bonds available. The Harriman Industrial Development Board approved the sale of the bonds and First Tennessee Housing Corporation in its role as Investor Limited Partner provided approximately $6 million in Low-Income Housing Tax Credit (LIHTC) equity capital.