MURFREESBORO, Tenn. — The Tennessee Housing Development Agency (THDA) and the Murfreesboro Housing Authority (MHA) celebrated the grand opening of Parkside Apartments on July 30, marking the completion of a new 46-unit affordable housing development near downtown Murfreesboro.

The project was financed in part through $10.5 million in Low-Income Housing Tax Credit (LIHTC) equity awarded by THDA, along with a $600,000 grant from the agency’s Tennessee Housing Trust Fund.

“Partnering with Murfreesboro Housing Authority to support the development of affordable housing that serves Tennessee’s most vulnerable residents is a top priority for THDA,” said THDA Executive Director Ralph M. Perrey. “We’re proud to provide the funding needed to help projects like this become a reality.”

Parkside Apartments includes 46 affordable housing units, along with community amenities such as a computer room for residents and an on-site playground.

“Parkside represents more than the completion of a construction project,” said MHA Executive Director Marquisha Griffin. “It reflects our commitment to preserving affordable housing while creating modern, high-quality homes where families can thrive. This redevelopment honors the history of the community while investing in its future.”

Fifth Third Bank also helped finance the project through a $12 million community development loan.

“Fifth Third is proud to help make this development possible,” said Dave Briggs, Tennessee regional president for Fifth Third Bank. “This investment reflects our commitment to strengthening communities and improving the lives of the individuals and families we serve across Tennessee.”

THDA serves as Tennessee’s housing finance agency, supporting the development, preservation and rehabilitation of affordable housing for very low-, low- and moderate-income households throughout the state.