NHPF remains very concerned regarding the overall health and well-being of our 25,000 residents during the Covid-19 crisis. We have been actively working with our third-party management companies in taking steps such as increased cleaning of common areas, limiting resident contact except for emergency situations and, through our resident services program subsidiary Operation Pathways, providing information about resources for financial assistance, food, medicine, transportation, and needed supplies. In addition, we have placed a moratorium on all evictions for non-payment of rent for the duration of this crisis and are actively engaging our residents who have been financially impacted to discuss payment plans. We fully appreciate the social and emotional tolls the length of this crisis have taken on our residents and we will follow all local and state government directives regarding the reopening of our sites and community centers. The safety and well-being of our residents remains our highest priority.

Eagles Landing

Affordable Housing in Memphis, Tennessee

Originally constructed in 2005, Eagles Landing features 96 garden-style apartments in Southeast Memphis. Situated on 8.6 well-maintained and landscaped acres, the property includes a large playground and a community center offering resident services and activities. Eagles Landing also features controlled access and courtesy officers. Each cable-ready apartment includes a dishwasher, stove, refrigerator, full-size washer and dryer connections, and a garbage disposal.

Nearby is Southwind High School, where students have the opportunity to take Advanced Placement coursework and college preparatory exams.

Total Cost

$4,800,000

Description
Eagles Landing is comprised of 16 one-bedroom, 24 two-bedroom, 40 three-bedroom, and 16 four-bedroom units. All the Eagles Landing resident households are at or below 60% AMI and receive rental subsidies through a project-based Housing Assistance Payment contract with HUD.

Transaction
NHPF and the LEDIC Realty Company formed a joint venture to acquire interest in Eagles Landing Apartments and a contiguous land parcel to be held for future affordable housing development. The acquisition was completed for an implied purchase consideration of $4,800,000.