Nashville makes progress on affordable housing crisis

Friction point: Depending on your perspective, the recent work is either a beacon of hope or tiny baby steps at a time when the city ought to be moving by leaps and bounds.

State of play: A Redfin analysis last year found a family needed a household income of $124,095 to afford the median home in Nashville.

• That's about $44,000 more than the typical Nashville-area household makes.

Here's a quick rundown of recent developments:

• Catalyst Fund: Launched in June, the $75 million fund will provide loans for developers for affordable housing projects.
• HUD grant: The city received a $5 million federal grant in June to create policies to remove barriers to affordable housing. One goal is to make it easier to convert under-utilized land into affordable housing developments. Nashville was one of 21 cities to receive the grant out of 175 that applied.
• Housing and infrastructure study: Led by Councilmember Jennifer Gamble, Metro Council approved funding for comprehensive housing and infrastructure study, with a focus on land use, zoning and infrastructure policy changes that will allow for more housing.
• Unified Housing Strategy: Earlier this year, the city began work on a detailed strategy to address housing problems in Nashville. City leaders have looped in residents, council members and the private sector on the strategy.
• Barnes Fund turns 10: Late in 2023, the Barnes Housing Trust Fund celebrated its 10th anniversary. Barnes Fund projects resulted in 3,865 rental homes, 395 for-sale homes and the rehabilitation of 460 existing homes in its first 10 years.

What she's saying: "It is a reflection of the city taking the issue of affordable housing really seriously," Metro's housing division director Angie Hubbard tells Axios. She says the housing situation is "dire" in Nashville as in other major cities.

• "It's dire everywhere," she says. "When people can't afford their housing, they're making choices that affect their physical health, their mental health, other opportunities they might pursue. It's not just that we don't have enough housing, it's so much deeper than that. Cities feel the impact when they can't house their workforce."

Zoom in: Hubbard says she's especially enthused about the work on the Unified Housing Strategy, an idea that's been in the works for several years.

• She says the strategy will be a "more granular" and detailed approach to housing policy than what the city has produced so far.
• "There are so many for-profit and nonprofit development parties, lending institutions, philanthropy partners. We need an accounting of who's doing what, and where can we strengthen our alignment," she says. "How can we support our partners who are in this work day-to-day in places where the government can't be, and where are we missing the mark?"

Yes, but: Metro Councilmember Rollin Horton tells Axios council has made "significant strides" addressing housing, but there's more work to do.

• Horton expressed satisfaction with two policies he championed passing through council. One creates a "pattern book" which provides builders with multi-family housing plans already approved by the city departments. Another recently approved policy allows more housing in commercial, office and shopping districts, including those not located on busy roads.
• "We've passed important legislation and initiated studies to ensure Nashville remains a place accessible for middle class families," he says. "However, it's imperative that we do more than just study the issue. We must continue to take decisive actions to provide more diverse options and opportunities for residents across all income levels and stages of life."

Get involved: You can take the public survey for the unified housing strategy until Aug. 31.