Holladay Ventures Opens Park24

On August 26, 2026, Holladay Ventures celebrated the opening of Park24. The development brings a 140 new homes to McFerrin Park, a rapidly changing neighborhood, and it's already off to a strong start — the property is reportedly 81% leased.

Housing Built for Working Nashvillians

Park24 offers one-, two-, and three-bedroom apartments priced for households earning between 30% and 80% of AMI, with monthly rents ranging from roughly $653 to $2,415. That kind of income-restricted pricing is increasingly rare in East Nashville, where new construction has often skewed toward the higher end of the market.

The location puts residents within easy reach of downtown, the East Bank redevelopment currently underway along the riverfront, and several public transit corridors — a meaningful advantage in a neighborhood that's seeing rapid change.

A Neighborhood in Transition

McFerrin Park has been swept up in Nashville's broader growth story, with major nearby investments including the new Nissan Stadium, the East Bank district, and Oracle's campus reshaping the area. Developers behind Park24 framed the project as a deliberate counterweight to displacement pressure — an effort to make sure long-term residents and lower-income Nashvillians aren't priced out as the neighborhood evolves.

Nashville Mayor Freddie O'Connell echoed that sentiment at the opening, framing the project as part of the city's broader push to preserve affordability as growth continues near the East Bank.

More Than Just Apartments

Park24 isn't just residential. The development includes a 2,200-square-foot Empowerment Center operated on-site by ULMT, offering workforce development, education, and community programming for residents and neighbors alike. Aron Thompson, ULMT's V.P. of Housing and Economic Development, noted that fellows from the organization's Real Estate Developer Academy were directly involved in shaping the project — helping ensure the finished building actually reflects what the community wanted.

There's also 2,500 square feet of commercial space available for lease, which East Nashville-based firm The Cauble Group is marketing to local businesses — think a neighborhood coffee shop or small retailer rather than a national chain.

On the sustainability side, Park24 is topped with a 174 kW solar array, a feature that helped the project earn Enterprise Green Community Certification.

How It Got Built

Park24 was developed jointly by Holladay Ventures and the Urban League of Middle Tennessee (ULMT). Financing a project like this takes a coalition. Park24 drew support from the Amazon Housing Fund, along with financing and tax credit equity from U.S. Bancorp Impact Finance and Cedar Rapids Bank and Trust. The Barnes Fund for affordable housing also contributed a $2 million grant.

As Michelle Brown, Amazon's senior public policy manager, pointed out during the opening ceremony, Park24 is a model for what's possible when private companies and public agencies collaborate to put affordable housing near jobs and transit.

ULMT, Pillars Development, PATHE, and the McFerrin Park Neighborhood Association all assisted with community input throughout the development process.

Why It Matters

Nashville's affordability crunch isn't news to anyone who's watched rents and home prices climb across Davidson County in recent years. Projects like Park24 won't solve that problem on their own, but they're a concrete example of how income-restricted housing can still get built — and get leased quickly — in neighborhoods under real development pressure. With 81% of units already spoken for, it's a sign there's no shortage of demand for homes Nashvillians can actually afford.