The Emery

The Opportunity

The Emery was a former low-income tax credit property in Chattanooga’s Hamilton submarket. As restrictions expired and market-rate apartment demand strengthened, Springer Capital identified the opportunity to acquire and reposition the asset. With solid bones and an excellent location, the property was primed for conversion to market-rate housing that served the area’s growing workforce.

The Impact

Springer Capital invested approximately $4.5 million to modernize interiors, exteriors, and amenities, aligning the property with nearby market-rate communities. The repositioning delivered an attractive, attainable housing option for local residents while unlocking significant value. The Emery transformed from restricted affordable housing into a competitive market-rate asset meeting strong tenant demand.