Cherokee Place

1101 Shawnee Dr., Franklin, Tennessee 37064

Contact Cherokee Place

Cherokee Place is an upcoming affordable housing community offering 1-, 2-, and 3-bedroom units.

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	-	From $775 To $850
Two Bedroom (2/1)	-	From $900 To $1,000
Three Bedroom (3/1)	-	From $961 To $1,250

This property is currently under construction.

Eligibility for Cherokee Place

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Franklin but actual income limits may differ for units at Cherokee Place.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$34,950	$39,950	$44,950	$49,900	$53,900	$57,900
Low Income (60%)	$41,940	$47,940	$53,940	$59,880	$64,680	$69,480

Cherokee Place Details

76 one, two and three bedroom units.
Low-Income Housing Tax Credit (LIHTC)

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.