The Metropolitan Development and Housing Agency and Nashville-based property management firm Freeman Webb, Inc., will unveil Uptown Flats today from 2-4 p.m.

Formerly called Gatewood, the building is located at 101 Gatewood Avenue across from Shwab Elementary School and at the T-intersection with Dickerson Road. MDHA developed Uptown Flats at a cost of about $3.5 million.

The 72-unit, three-story building offers both market-rate and affordable units.

Mark Drury, MDHA spokesman said the project team changed the name, feeling Uptown Flats is a "more distinctive name and would help establish the building’s brand." 

Local architects Moody Nolan Inc. and Smith Gee Studio have designed sleek angular forms. Leadership in Energy and Environmental Design certification will be pursued.

The project was funded via a $30.5 million federal grant that is part of the Neighborhood Stabilization Program regarding affordable housing. NSP focuses on buying foreclosed properties and rehabbing them or building afresh on their empty sites. The grant represents a one-time source derived from federal stimulus money.