Company officials including Alvin Nance, LHP Development CEO, celebrated the opening of Covenant Village apartments, 322 Forestal Drive, on Aug. 19. The $5 million renovation project upgraded the 70-unit complex formerly known as Forest Creek.
This was the first substantial rehab for the nearly 40-year-old property, according to marketing director Amy Styles. LHP spent about $63,000 per unit to completely overhaul the one-, two- and three-bedroom apartments. Along with many energy efficiency upgrades, residents will have free Wi-Fi and cable TV.
LHP Capital owns, developed and manages the property. LHP was founded in 2015 by Phil Lawson. It was rebranded from Lawler Wood Housing. Since 1998, the company has developed more than 13,750 apartment units at 105 properties in 13 states. LHP is based in Knoxville with an office in Nashville.
The contractor for the renovation was Blaine Construction and the architect firm was McCarty Holsaple McCarty. As part of the requirements of the financing, the renovated apartments must remain affordable for individuals and families with incomes 50 to 60 percent of the Area Median Income (AMI) or less for the next 30 years. Covenant Village has one, two and three bedroom apartments. Info: 865-689-6115.