CLARKSVILLE, TN (CLARKSVILLE NOW) – Clarksville Housing Authority Executive Director Wanda Allen provided an update on the Lincoln Homes redevelopment to the City Council recently, showing what new and newly renovated buildings will look like.
Ted Matkom, with CHA’s redevelopment partner Gorman & Company, told the council the project is in a “much better place than at the beginning of the year.”
Lincoln Homes was built in 1941 and has 213 units ranging between one and five bedrooms each.
- One bedroom – 36.
- Two bedroom – 86.
- Three bedroom – 66.
- Four bedroom – 16.
- Five bedroom – 9.
“It is very in need of rehabilitation,” Matkom said. “Again, it’s historic; we have historic signage that we’re going to keep, but we’re also going to embellish that. With HUD, we’ve agreed in the community building to actually have a museum-style room to tell the history of Lincoln Homes and how it began.”
Matkom also provided an update over the road reconfiguration of Lincoln Homes, which he said was to make the campus safer. “There were people in the community that thought that the roads as they were presented a hazard for pedestrians and for vehicles. So we straightened out the roads,” he said.
“If you can see the red road that curved down to Farris (Drive), we removed that and replaced it with a 16-unit building. So, modest repairs and renovations to the roads, but needed.”
Phases 1 and 2 of Lincoln Homes
Two phases of the redevelopment are planned and financed. “What’s amazing about this development is we got two 9% competitive awards (tax credits) from THTA for this project, side-by-side,” Matkom said.
“You never see that happen. The reason it’s so amazing is that THTA would not have given us phase one and two if they weren’t going to give us phase three and phase four. That’s in the future.”
Phase one is demolition of three buildings, construction of one new 16-unit building, and the rehabilitation of six buildings. “That’s 51 units total, approximately $13 million in construction costs,” Matkom said.
Phase two is the demolition of seven buildings, construction of one new 16-unit building, and the rehabilitation for 13 buildings. Phase two ends with 56 units total, with construction costs amounting to around $14 million.
Estimated financial closing of October 2026
Matkom said as of June 13, all financing plans were submitted, as well as all permits and their scope. “We are only waiting for HUD,” he said. As of right now, the financial closing for the Lincoln Homes redevelopment is estimated for October 2026.
“Everyone is committed; all of the sources are committed. Usually with this type of project, we come to the city and say we need $1-2 million. We don’t have to do that here,” he said. “The 9% awards we have are fully funding this.”
Matkom said the two 9% awards/tax credits will allow for lower construction costs, which will in turn allow lower rent prices on units.
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