The Clear Blue Company (CBC) celebrated the groundbreaking of Honeywood Dickson, a 228-unit, nine-building affordable housing community located in Dickson, Tennessee. Studio A Architecture is serving as the development architect, and BACAR Constructors is serving as the general contractor. The project is located at 841 Cowan Road.
Located on 16.14 acres, Honeywood Dickson will be comprised of nine residential buildings offering a total of 228 one- to four-bedroom homes including: 68 one-bedroom, 60 two-bedroom, 70 three-bedroom and 30 four-bedroom residences. Of the community’s 228 homes,
- 57 will be reserved for households earning up to 30% of the area median income (AMI),
- 114 for households earning up to 60% of AMI
- 57 for households earning up to 80% of AMI.
The Dickson Housing Authority will also provide development-based vouchers for 60 homes, further expanding access to the community.
“This development marks an important step toward expanding access to high-quality, affordable housing for individuals and families across Dickson,” said Nick Ogden, Founder and CEO of The Clear Blue Company. “Honeywood Dickson reflects what can be accomplished when public and private partners work together around a shared commitment to addressing local housing needs.
“Honeywood apartments represents an important investment in the families and individuals of Dickson,” said THDA Executive Director Ralph M. Perrey. “THDA is proud to work alongside The Clear Blue Company in their efforts to expand quality, affordable housing opportunities to help residents build a stronger future.”
“As Middle Tennessee continues to grow, creating more high-quality, affordable housing options is an important part of supporting the area’s economic growth,” said Lee Blank, Nashville market president for Regions Bank.
Designed to support families and deliver high-quality housing options, Honeywood Dickson offers a full suite of amenities, including a dog park, playground, two open lawn spaces, a standalone clubhouse, fitness area, business service center, large community room, outdoor patio and grilling stations, and a pool.
Residents also benefit from modern finishes, ENERGY STAR ®-certified stainless-steel appliances, solid surface countertops, in-unit washer and dryer connections, luxury vinyl tile (LVT) flooring and ceiling fans in the bedrooms and living rooms.
Capital Stack
Honeywood Dickson is being advanced through collaboration among The Clear Blue Company, the U.S. Department of Housing and Urban Development (HUD), the City of Dickson, Dickson County, the Tennessee Housing Development Agency, Regions, the Dickson Housing Authority and other public and private partners. The development also received approval for the community’s first residential Payment in Lieu of Taxes agreement, as well as the first allocation of development-based vouchers from the Dickson Housing Authority.
The approximately $88.1 million development is being financed through a combination of tax-exempt multifamily housing revenue bonds and federal and state tax credits.
- The Health and Educational Facilities Board of the City of Dickson authorized the issuance of up to $48 million in tax-exempt bonds, while
- The Tennessee Housing Development Agency provided an allocation of 4% Low-Income Housing Tax Credits and support through its Community Investment Tax Credit program.
- Regions Affordable Housing provided the construction and equity bridge loans and made an equity investment in the project’s 4% LIHTC allocation.
- Freddie Mac provided the tax-exempt permanent mortgage, serviced by Regions Real Estate Capital Markets, and
- Raymond James National Housing Group served as bond underwriter.
Units will begin delivering in fall 2027 with construction slated for completion in March 2028.
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