River City North
Located six miles north of downtown Chattanooga, River City North is a four-building, garden style apartment complex that was built under the low-income housing tax credit (LIHTC) program. Additionally, the property has a Project-Based Section 8 contract with the Chattanooga Housing Authority for 28 of the 108 units, ensuring a portion of the community remains available to serve extremely low-income families in the area.
Belveron’s investment in River City North was part of a larger portfolio acquisition, which also included Meadow Creek, an 84-unit LIHTC property in Goodlettsville, and Vue at Ridge Way, a 96-unit, former LIHTC property in Knoxville. Chattanooga, Goodlettsville and Knoxville have all experienced strong job growth in recent years.