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Nance Place Fully Leased | 2011-10-17

The following press release is from MDHA's Leasing Partner Freeman-Webb. For more information contact Ryan Witherell at 615-500-2733.

Nance Place Fully-Leased Four Months After Opening
 
Sustainable residential development thrives in downtown Nashville, demonstrating demand for affordable urban housing
 
Nashville, TN – Freeman Webb, Inc. and the Metropolitan Development and Housing Agency (MDHA) announced today Nance Place, the LEED certified downtown workforce apartment community, is 100% leased only four months after opening.
 
Nance Place opened in late May 2011 on Rolling Mill Hill, the former brownfield site remediated by MDHA for residential use. Designed to provide affordable urban living, the community consists of 109 apartment homes—studios, one-, two- and three-bedroom units—with underground parking and a shared interior courtyard. Freeman Webb, Inc., the largest private owner/manager of apartments in Nashville, oversees the leasing and management of Nance Place.
 
“Nance Place provides affordable downtown living in an attractive and upscale package,” said Bill Freeman, chairman of Freeman Webb. “Our involvement in Nance Place, which offers sustainable features unprecedented in this type of project, reinforces Freeman Webb’s ongoing commitment to green buildings. We applaud MDHA’s exceptional work in transforming Rolling Mill Hill, and it’s a privilege to be involved in a project that sets an example for environmentally-friendly urban development.”
 
Nance Place is registered in the LEED for Homes- Midrise Pilot program and is seeking Gold certification. It’s the first development of its kind in Tennessee to be registered with the U.S. Green Building Council, which administers the LEED program. It is the second new residential development to open this year on Rolling Mill Hill.
 
“Nance Place is another step in the total transformation of Rolling Mill Hill from a former brownfield site into a vibrant, mixed-use, mixed-income neighborhood for working Nashvillians,” said Phil Ryan, executive director of MDHA. “With convenient access to transit, Hermitage Avenue and a new greenway trail, Rolling Mill Hill offers an affordable option for people who want to live downtown.”
 
Residents of Nance Place enjoy environmentally friendly features, such as:
The building’s exterior walls feature bio-based insulation, and the cavities of exterior walls are sealed to reduce the amount of outside air infiltration. Also, white roofing reduces the heat island effect found in urban climates. The interior courtyard features an innovative rainwater treatment planter that captures and filters all rain water from the roofs. Plus, all landscaping is drought-tolerant and the irrigation is efficiently designed to reduce the need for watering.
 
Nance Place was funded through a combination of private funds, tax credits and U.S. Department of Housing and Urban Development HOME program funds. During construction of the $9.5 million building, more than 80% of construction waste was recycled, diverting around 100 tons from local landfills
 
Moody•Nolan, Inc. in association with Dryden Abernathy Architecture Design (DA|AD) were the Joint Venture Architects for Nance Place. The contractor for the project was Bomar Construction.
 
About Freeman Webb, Inc.
 Freeman Webb Investments, Inc. acquires commercial and multi-family residential properties for the company’s long-term portfolio and investor clients and is a subsidiary of Freeman Webb, Inc. Founded in 1979 by William H. Freeman and James A. Webb III., Freeman Webb, Inc. is the largest private owner/manager of apartments in Nashville and presently has more than 13,000 multifamily units under management. Freeman Webb also manages more than 1,200,000 square feet of commercial property across the southeast. Nationally, the company manages a total of more than 14,000,000 square feet of residential and commercial property. It specializes in the acquisition, management and renovation of multi-family residential and commercial property in the Southeast, Midwest and Southwest. Freeman Webb Inc. employs more than 400 associates.
 
Freeman Webb has garnered numerous awards, including 2010 “National Property Management Company of the Year” by the NAHB, 2010 “Management Company of the Year” by the Greater Nashville Apartment Association (GNAA), 2010 and 2011 “Best Places to Work” by Nashville Business Journal, 2010 “Property Management Company of the Year” Finalist by Multi-Housing News, 2010 “Industrial Conservationist of the Year” by the Tennessee Wildlife Federation and 2010 “International Green Apple Award” by The Green Organization. For more information, visit www.freemanwebb.com.
 
About MDHA
The Metropolitan Development and Housing Agency provides housing to approximately 29,000 Nashvillians, administers a variety of urban and community development projects, works to increase the availability of affordable housing, and leads and supports revitalization efforts in downtown and neighborhoods throughout the city.
 
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