On March 16th Deputy Secretary Adrianne Todman, Mayor John Cooper, and other elected officials joined the Metropolitan Development and Housing Agency for a groundbreaking of their new mixed-income residential development at Cayce Place.
Located at 725 S. Fifth St. in East Nashville, 5th & Summer will feature 107 units – 50 subsidized for current Cayce Place residents, 16 workforce, and 41 market-rate apartments and would be the eighth new residential construction and the seventh mixed-income development at Cayce Place.
"We are here to celebrate today's groundbreaking, but we are also here to celebrate hope," said Deputy Secretary Todman. "This is the way that we are going to change and improve affordable housing across the country – block by block and community by community."
5th & Summer will feature market-rate amenities, including stainless steel appliances, quartz countertops, and tile backsplashes. The six-story development will also feature a large lounge, computer room, and fitness room.
"Since we began the transformation of Cayce Place, we have completed more than 500 new apartments, with more than half of the new apartments reserved for our current Cayce Place residents," said MDHA Executive Director Dr. Troy D. White. "We are continuing that momentum today as we break ground on our next residential development to help ensure everyone has an opportunity to live in our great city."
In addition to ARPA funding, MDHA received a 9% Low-Income Housing Tax Credit award and a National Housing Trust Fund grant, both of which are competitively awarded by the Tennessee Housing Development Agency. 5th & Summer is the fifth development to receive funding from THDA as part of
5th & Summer will be built on vacant land at Cayce Place, expediting the process for construction of the mixed-income development.
5th & Summer is scheduled to be completed summer of 2025.