Tennessee continues to experience growth; rental rate increases and approval of bigger and bigger housing developments but is there a future for financially accessible housing?
Mayor John Cooper announced plans for more permanent supportive housing that will break ground in January 2022. More local developers are also looking to add financially accessible housing in urban areas and look for more ways to include affordable housing throughout downtown regions. 1
A redesign of the housing project that Cooper approved “include more and better units, including more one-bedroom units instead of efficiency units, more windows, and a closer orientation to the river with an adjacent park and green space.” 1
The middle class is a vital infrastructural element and is the engine of Nashville’s economy, but home prices are forcing more and more families to the suburbs. Like many growing cities, this migration increases traffic volume immensely, turning rush hour into rush hours, and reducing the foot traffic that supports all our shops, restaurants, and local retailers. 2
Several articles state that the Nashville Metro creates and preserves access to roughly 1,350 affordable housing units a year, although it would need 5,250 units per year to prevent a 50,000-unit housing shortage by 2030.
One of CA South’s main goals is to bridge the gap between luxury and affordable housing, by supplying a product type makes modern design living accessible to a broad range of household incomes.
2 https://www.multihousingnews.com/can-nashville-close-its-affordable-housing-gap/