Several new construction and redevelopment projects are helping address the need for quality, accessible affordable housing across Tennessee. Investments by PNC Multifamily Capital are helping low-income housing tax credit projects come to life in Greeneville and Nashville — supporting family households, expanding deeply affordable options and strengthening communities through collaboration with experienced developers and local partners.
“These developments reflect the type of community impact we strive to support through PNC Multifamily Capital,” said Todd Crow, head of PNC Multifamily Capital. “By investing in quality affordable housing in high-demand markets like Nashville, we can help create lasting value for residents, neighborhoods and the broader community.”
Fontana Pointe
Fontana Pointe is a 72-unit, new construction, Low Income Housing Tax Credit (LIHTC) community for families in Greeneville and represents the newest LIHTC family property in the market in more than 15 years. The development will include 36 two-bedroom and 36 three-bedroom units across three garden-style residential buildings, serving family households at 50% and 60% of area median income (AMI), with 5% of units designed for mobility-impaired residents.
The project is positioned to help meet a meaningful supply gap in the region. According to the deal materials, Fontana Pointe will be the only modern multifamily asset — LIHTC or market-rate — in the Greeneville market, with no proposed LIHTC developments currently identified in the area. The property also focuses on two- and three-bedroom homes, which are among the most supply-constrained housing types in the region.
Located near East Andrew Johnson Highway, the property will offer access to retail, healthcare and transportation resources, including demand-response service from Northeast Tennessee Regional Public Transit. Unit amenities are expected to include appliances, washer/dryer connections, HVAC, blinds and cable pre-wiring, while site amenities include a laundry room, clubhouse/community center and playground.
PNC is supporting the project through a $13.26 million equity investment, along with an $11.6 million bridge loan and a $4.07 million construction loan. The project is being developed by Hall Group LLC, which has significant experience in affordable housing development.
Trinity Lane
Trinity Lane is a 233-unit, new construction, family community in Nashville, Tenn., designed to help address one of the city’s widest affordable housing supply gaps. The development is expected to include 55 two-bedroom, 104 three-bedroom and 74 four-bedroom units at 60% AMI, with a high concentration of larger three- and four-bedroom units that are particularly scarce citywide.
The project is expected to stand out as a deeply affordable family property in a growing Nashville market where rising costs continue to challenge the feasibility of new affordable housing. With its combination of scale, affordability depth and urban proximity, Trinity Lane offers a strong example of how LIHTC investments can support inclusive community development in high-demand markets.
The development also is expected to offer amenities closer to market-rate quality than typical tax-credit housing, including a fitness center, clubhouse, pool, spa, cabana, playground, barbeque area and dog park. Permanent financing includes a Freddie Mac Tax-Exempt Loan serviced by PNC Agency and tax credit equity.
A fund with third party investors that is managed by a PNC affiliate is supporting Trinity Lane through a $37.85 million equity investment. The project is being developed by Dominium Development & Acquisition, LLC, an experienced affordable housing developer with a large national portfolio.
Shelby House and The Shelby
In Nashville, Samaritan Recovery Community teamed up with developers Holladay Ventures and Evergreen Real Estate to reimagine its campus and create Shelby House, a 195-unit affordable housing community located across the river from downtown. The project is designed to help address Nashville’s growing need for quality, accessible housing while supporting a broader campus redevelopment that includes a new, state-of-the-art recovery facility.
The work is continuing with The Shelby, a new phase that will add 289 units and bring the campus total to 484 affordable housing units. The Shelby incorporates sustainable design features and modern amenities, further extending the project’s commitment to affordable housing and community impact in Nashville.
The impact of the campus has earned national recognition: Shelby House and Samaritan Recovery Community were named the winners of the mixed-use category in the 2025 Affordable Housing Finance Readers’ Choice Awards.
A connected community
Together, these projects reflect the importance of affordable housing that does more than add units — they strengthen access, support families and help create more connected neighborhoods.
“These projects show what is possible when public, private and community partners work together around a shared need,” Crow said. “Affordable housing is foundational to community growth, and we are proud to help support developments that can serve Nashville families for years to come.”
