NASHVILLE, TN — Building homes in the Mid-TN area since 2008, Randy Arnold, owner of Arnold Homes LLC and Derrick Phillips, Principal at Phillips Camden have unveiled plans for the construction of new town homes along the Cumberland River on Young’s Lane. The 30-unit complex will be comprised of three-bedroom homes with two-car garages, and feature rooftop views of the river. The new construction also boasts close proximity to the heart of downtown Nashville.
Randy and his high school friend, Derrick Phillips, have taken advantage of the opportunity to converge their individual ventures into a business partnership. The Phillips Camden Fund is a private equity fund that pulls together resources to fund real estate deals.
The Nine Ten project partners tout that they are guys with local ties. Arnold is a graduate of Middle Tennessee State University and Phillips a graduate of Tennessee State University. Through their work and relationships in their respective industries, they have been able to attract investors like TSU graduate and Houston Rockets player, Rob Covington and MTSU graduate and Tennessee Titans player, Kevin Byard.
When asked what made these professional athletes decide to invest in this particular project, Derrick explained, “Nashville is one of the best markets in the country, Randy is one of the best builders in the country, and I am one of the best strategists, so the project just makes sense.”
Neighborhoods in Nashville have been developing and drastically changing over the last several years. The projects leads, Phillips and Arnold, specifically wanted build in North Nashville to address the issue of gentrification within the city and provide opportunities to the people in the community.
“We are making an investment in District 2 to enhance the community,” Phillips says. “Randy and I have a self-imposed mandate to hire a significant portion of our workforce form District 2. We are working with Citizens Bank to create a community financing program to provide the financing for potential buyers who currently reside in the area.”
“We are also intentional about the inclusion of the community and local workforce, added Arnold. “ We are planning to host an event for local licensed contractors to get bids by coming to the site to pick up plans, budgets and submit estimates to be selected to work on this project.”
The Nine Ten Project breaks ground on Thursday, February 13 with a ceremony at 910 Youngs Lane. The projected completion date is set for Spring 2021.
