Eastpoint Flats Under Construction on Nashville's East Bank

Eastpoint Flats, a 323-unit mixed-use development, is under construction at 501 S. Second Street in Nashville's East Bank district. The six-story, 370,000-square-foot project rises 105 feet. It is the first 100% affordable housing development in the East Bank area and the first vertical residential project to break ground in the district. TPAC is the developer, with architecture by Humphreys.

Two building permits total roughly $74.8 million, including a primary permit valued at $72,055,425. Construction began May 28, 2026. The completion date moved from July 31, 2028 to December 31, 2028, and the address was formalized from Parcel G to 501 S. Second Street.

All 323 units are income-restricted: 80 at 30% AMI, 136 at 60% AMI, and 107 at 80% AMI. A 99-year ground lease with Metro Nashville guarantees long-term affordability. The project includes an 8,420-square-foot childcare facility, 12,600 square feet of ground-floor retail, and a 384-space internal parking garage.

Financing includes more than $120 million from the Tennessee Housing Development Agency, including $52 million in tax-exempt bond authority and housing tax credits generating over $70 million in equity. Elmington Capital secured an $80 million construction loan in June 2026. The 2.25-acre site was previously a Nissan Stadium surface parking lot and sits within the 30-acre Eastpoint district, part of the broader 550-acre East Bank redevelopment.