Mai Bell II welcomed Mayor Tim Kelly and more than 60 others to tour the new affordable rental development.

CHATTANOOGA, TENNESSEE, UNITED STATES , March 25, 2024 /EINPresswire.com/ -- On Friday, March 1, Chattanooga Neighborhood Enterprise (CNE) held a Grand Opening for Mai Bell II, a new phase of their developments in the Highland Park neighborhood of Chattanooga. City Mayor Tim Kelly and more than 60 others, including CNE staff and board, stakeholders, and neighbors all gathered to tour the rental units.

Mai Bell II is located on the 1700 block of Union Avenue, between South Hickory Street and South Orchard Knob Avenue, and consists of a series of quadplexes in addition to a 3-story walkup building that has 27 new units, all of which are currently leasing. The walkup has units renting at market rate and some that are income restricted. The income-restricted rents begin at $685 for a 1-bedroom or $804 for a 2-bedroom.

CNE’s purpose in hosting a grand opening was to bring attention to the new property and highlight their “Missing Middle” development strategy. Missing Middle was started in 2014 when CNE purchased 34 vacant parcels and parking lots in Highland Park with the intention of building single- and multi-family dwellings for both purchase and rent, providing a way for people of various income levels to gain entry into homeownership or permanent rental housing. CNE works to develop builds that will seamlessly fit into the neighborhood.

The affordable development features available Studio and 1-Bedroom units. To apply, please visit cneinc.org/rentals or email rent@cneinc.org.

To learn more about CNE’s Missing Middle approach, visit cneinc.org/creating-homes.

Chattanooga Neighborhood Enterprise was founded in 1986 as a nonprofit to help families navigate the homebuying process and become successful, lifelong homeowners. For over 30 years, they have used their ingenuity and innovative spirit to help over 13,000 clients, including families, individuals and small businesses, to secure loans, purchase homes and keep the homes they love. Additionally, through their revitalization and development work, they have been able to provide over 5,000 stable homes in diverse, urban neighborhoods with potential to thrive.

Chelsea
Smith
+1 256-572-1214
email us here
Visit us on social media:
Facebook
Instagram

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.