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.