Capital Square JV Completes 348-Unit Tennessee Community
The project was funded through the firm's eighth investment vehicle.
A joint venture between Capital Square and LIV Development has completed construction of Livano Knoxville, a 348-unit multifamily community located in the Tennessee city of the same name. The property is located in a qualified opportunity zone and received its certificate of occupancy in October 2025.
Construction began on Livano Knoxville began in June 2023, and the community topped out in December 2024. The construction team included Southern Building Group as general contractor, Niles Bolton Associates, Inc. as the architect and Design South Interiors as the interior designer. Gallery Residential manages the property, according to Yardi Matrix.
Capital Square financed the development through CSRA Opportunity Zone Fund VIII, the firm’s eighth qualified opportunity investment vehicle.
Since leasing began, Livano Knoxville is 74 percent leased and 57 percent occupied. The development spans two buildings across 5.9 acres. Of the community’s 348 residences, 35 units are designated as workforce housing, reserved for households earning up to 80 percent of the area median income. Livano includes one- to three-bedroom residences averaging 930 square feet. Individual apartments offer wood-style flooring, in-unit laundry and stainless-steel appliances.
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Community amenities at Livano include a swimming pool, a fitness center, a coworking space and a sky lounge.
The delivery of Livano Knoxville comes as the Nashville-Knoxville metro continues to see elevated multifamily development activity. According to an April Yardi Matrix report, the area had 4,657 units under construction as of February. Occupancy also remains above the U.S. average at 94.9 percent.
Located at 465 W. Blount Ave., Livano Knoxville sits along the Tennessee River. Fort Dickerson Park is across the street, while the University of Tennessee is roughly 2 miles away across the river. McGhee Tyson Airport is approximately 12 miles south of the property.
LIV Development’s recent sales
Late last year, LIV Development sold Livano Norfolk, a 295-unit community in Norfolk, Va, that the company brought online in 2024. The 295-unit asset was purchased by Kushner Cos. in November 2025. Following the acquisition, the community has been rebranded as District 757.
In July 2025, LIV Development sold the 214-unit 1322 North community in Auburn, Ala. Mulberry Properties and BRT Apartments Corp. purchased the asset, called 1322 North, for $36.5 million with a $24.4 million loan.
