THDA tax credits help provide affordable housing in Gatlinburg

THDA tax credits help provide affordable housing in Gatlinburg

Posted on Oct 20, 2020

Press release from developer:

AUG 03, 2020-80-unit community in Gatlinburg joins 14 other Tennessee properties under firm’s management.

FOURMIDABLE, a national real estate property management and brokerage firm currently managing 14 communities throughout Tennessee, is pleased to announce the opening of Watson Glades Place, its newest community in Gatlinburg.

“FOURMIDABLE is proud to have been working with the members of this ownership group since 2007 and have built a strong professional relationship. We are extremely excited to be part of the city and looking forward to managing such an upscale community,” said Michael Schocker, President of FOURMIDABLE. “Watson Glades Place is going to be a wonderful addition to the Gatlinburg area.”

Watson Glades Place offers residents 80 one, two and three bedroom homes. The newly constructed, energy efficient community features fully equipped kitchens with dishwashers, in-unit washers and dryers and vaulted ceilings.

The community will also offer residents an outdoor pool, business center, fitness center, furnished clubhouse and playground.

Watson Glades Place is being developed in cooperation with the Tennessee Housing Development Agency under the Low-Income Housing Tax Credit program. The general contractor is BACAR Constructors of Nashville, Tenn. The developers for the property are Watson Glades Place 2017 Limited Partnership.

The first residents moved into their beautiful new homes in late July. Applications are being accepted online at Rental rates for Watson Glades Place range from $595 to $795 a month. There are income limitations for residential applicants based on the area median income, but no direct rent subsidies are offered at the community.


FOURMIDABLE is a national real estate management and brokerage company that specializes in managing, marketing and leasing market rate, tax credit, senior and family government assisted, public housing and rural development apartment communities. Founded in 1975, FOURMIDABLE currently manages 66 communities in ten states, with more than 6,450 units under management. FOURMIDABLE is a member of the elite AMO (Accredited Management Organization) and is an approved management firm for HUD, MSHDA and other State Agencies. Additionally, FOURMIDABLE affiliated companies offer support for property management companies and owners, including agility-pm, a provider of back office accounting, HR, IT and compliance support; eCrosstown, a provider of free WiFi amenity services to apartment residents; and ePhonz, a specialized telephone product for apartment management companies.

For more information, please call 248-593-4634 or visit

From WVLT: “It’s just beautiful:" New affordable housing complex welcomes Gatlinburg residents

Left to right: Diana Harshbarger; Jason Holliman, President CNB of Sevierville; David Verbal, CEO CNB of Sevierville; Brad Sharp, Executive Director/President of Appalachian Home and Health; Mike Boyle, Vice President of Acquisitions CREA; David Hayes, developer; Mike Hedges, THDA Board of Directors Chairman; Ralph M. Perrey, THDA Executive Director; Sevier County Mayor Larry Waters; Gatlinburg City Manager Cindy Ogle; Gatlinburg Mayor Mike Werner; State Rep. Dale Carr; State Rep. Jeremy Faison