Nashville is stepping up its game in the affordable housing arena, receiving a tidy sum of $5 million from the White House and U.S. Department of Housing and Urban Development. According to the Metropolitan Government of Nashville, this financial boost is all about knocking down the barriers that stand in the way of creating and preserving affordable housing in the city. The grant is part of HUD's Pathways to Removing Obstacles to Housing (PRO Housing) program, a new initiative designed to help communities lower housing costs by innovating policy strategies and fostering partnerships.
Yesterday, Nashville's own Mayor Freddie O'Connell shared the big news, detailing how this fresh infusion will fuel the city's Affordable Housing Finance Program and trigger the creation of brand-new permanent supportive housing units, plus up the ante on development capacity with emerging partners, this all on the occasion of the Community Development Block Grant Program's 50th anniversary. "As the cost of land increases, it becomes even more challenging to create affordable housing units, and our faith community, which owns nearly 4,000 acres of land across the county, represents a significant opportunity to partner together to create affordable housing options," Mayor O'Connell said, as per the Metropolitan Government of Nashville. He's banking on collaborating with faith-based organizations to turn their property into potential homes for those in need.
Claudette Fernandez of HUD, who played a role in handing over a big check, praised Nashville for its efforts, remarking, as per the Metropolitan Government of Nashville, "This funding will build upon the impressive work Nashville and Davidson County have already done to increase housing supply, adopt bold policy strategies, and greater partnership with citizens, developers, and the private sector." Numbers from a report by Think Tennessee and the Urban Institute do the talking: around 1,600 parcels, adding up to 3,491 acres, and owned by faith-based institutions could become prime real estate for affordable housing development—a staggering 57% of that acreage is just sitting there undeveloped, ripe for housing projects.
