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A $500 Million Affordable Housing Plan for Nashville
Yihyun Jeong and Mike Reicher report on a $500 million commitment from the city of Nashville to fund affordable housing development in a city facing a growing affordability crisis.
"The Under One Roof 2029 initiative seeks to create at least 10,000 units over the next decade, mainly by funding the Metropolitan Development and Housing Agency and the city’s Barnes Fund for Affordable Housing, which provides grants to affordable housing developers," according to the article.
"The city will provide $350 million to MDHA to help pay for 5,000 low- and middle-income homes, primarily through the redevelopment of aging public housing communities. An estimated 1,000 of the 5,000 new units will be dedicated to individuals at the lowest end of the income spectrum."
The article includes more detail on the program as well as exclusive soundbites provided by the mayor on the occasion of the program's launch.