Covenant Gardens Senior Apartments Affordable Housing Project Coming Soon to Southeastern Memphis

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Covenant Gardens
With an estimated construction cost of $34,590,267 and a total development cost of $52,042,453, Covenant Gardens is scheduled to begin construction in June 2025, with a projected completion date of December 2026.

Christian Church Homes (CCH), in collaboration with New Covenant in Christ Ministries, Inc. (NCIC), is proud to announce the launch of the Covenant Gardens Senior Apartments project. This groundbreaking venture marks a significant stride towards addressing the pressing need for senior affordable housing in Southeastern Memphis.

Located at 2768 Mt. Moriah Parkway, Memphis Tennessee, Covenant Gardens is a 3-story, 203-unit development tailored to serve low-income renters aged 62 and older. The partnership between CCH and NCIC aims to provide affordable housing solutions for seniors, offering 51 one-bedroom units at 50 percent Area Median Income (AMI) and 151 one-bedroom units at 60 percent AMI.

Encompassing approximately 180,000 square feet, the development will feature surface parking and an array of amenities including a community room, mailroom, fitness room, reading/computer rooms, laundry facilities, unit balcony areas, and an outdoor community garden. Covenant Gardens is strategically situated near major bus transportation routes, ensuring easy access to essential services such as healthcare, grocery stores, recreational venues, civic offices, and adult educational facilities. The property will also offer personalized onsite services and programs to enhance the well-being of its residents.

CCH will employ a combination of affordable housing funds, tax credits, deferred developer fees, and permanent debt to finance the project. Despite a funding gap of approximately $8,541,516, CCH remains committed to bridging this shortfall through additional sources of funding, including Project Based Vouchers (PBVs).

CCH distinguished itself nationally by being among the 25 nonprofit organizations to receive funding through the U.S. Department of Housing and Urban Development’s (HUD) Section 202 Supportive Housing for the Elderly program. This award, granted to only two organizations within Tennessee, will facilitate the creation or renovation of affordable multifamily rental housing like Covenant Gardens, while also providing continuous project-based rental assistance specifically for low-income elderly residents.

The collaboration between CCH and NCIC underscores their shared commitment to serving the Memphis community and addressing the critical need for affordable senior housing. Through the Covenant Gardens Senior Apartments project, both organizations aim to foster a more inclusive and vibrant community while providing seniors with a safe and nurturing environment to call home.