Chattanooga Neighborhood Enterprise (CNE) has broken ground on Mai Bell, a 49-unit apartment complex in Highland Park named after beloved Chattanoogan Mai Bell Hurley.
The three-story apartment building on the corner of Bailey Avenue and South Hawthorne Street in Highland Park will bring $4.7 million of investment into the neighborhood while creating affordable and work force housing, CNA said in a press release. Rents on 11 of the 49 units will start as low as $481 per month for a one bedroom, $652 for a two bedroom, and $868 for a three bedroom.
The project is being funded through a $443,500 grant from the City of Chattanooga’s HOME funds, a $200,000 grant from First Tennessee Bank, a $100,000 grant from NeighborWorks America, and CNE equity. Financing is being provided by First Tennessee Bank.
Hurley was a founding board member of CNE and longtime advocate for the arts, housing, and education in Chattanooga. CNE is naming the building after the late Mrs. Hurley to honor her legacy as a strong proponent of affordable housing in Chattanooga.
Mai Bell is expected to be compete by next spring.
Source: CNE