A new development that features both a recovery treatment center and affordable housing has opened in downtown Nashville, Tennessee.
The community has a 130-bed treatment center for Samaritan Recovery Community, which more than doubles the operations of the longtime nonprofit that provides treatment for addiction and co-occurring disorders.
The other major component of the Shelby House project delivers 195 units of permanent affordable housing for the area.
Samaritan Recovery Community partnered with Holladay Ventures and Evergreen Real Estate to create the new development.
“As the city continues to grow, it’s imperative that we provide Nashville an adequate amount of resources, whether in the form of food, housing, career services, wellness treatments, or otherwise,” said Evan Holladay, president and CEO of Holladay Ventures and a Samaritan board member. “All of this is possible thanks to Samaritan’s crucial, community-altering project.”
Financing for the approximately $70 million first phase includes 4% low-income housing tax credits, tax-exempt bonds, and state Community Investment Tax Credits from PNC and the Tennessee Housing Development Agency (THDA). THDA also provided financing from the National Housing Trust Fund. Other funding partners include Fannie Mae, Barnes Housing Trust Fund, and Metropolitan Development and Housing Agency.
“It truly feels like, after serving people for over 60 years, we are ushering in a new era of Samaritan,” said Dr. Mark Lasko, CEO and executive director of Samaritan. “One with more robust offerings, more beautifully healing spaces, and more opportunity to give our patients the next step to a better life. After all, Samaritan has always been about aiding the underserved.”
