Franklin Nonprofit Hopes Condos Will Fill Affordable Housing Gap

Posted at 6:20 PM, Oct 11, 2016
and last updated 2016-10-11 19:58:59-04

A planned three story building will soon add thirty condominiums near downtown Franklin, aimed at providing affordable housing in one of Tennessee's most expensive cities.

The Village at West Main has been designated to provide one bedroom units, between 518 square feet and 541 square feet, for around $153,000. The project will not use subsidies, vouchers, or income restrictions typically associated with affordable housing.

"This is all homeownership. There will be no rental," said Stephen Murray, executive director for the Community Housing Partnership of Williamson County. "There will be no investors. This is about people who need an affordable place to live in Franklin."

Murray said the price per square footage is comparable to traditional homes on the market, but size sets this project apart.

"What we did create in Franklin is a product that doesn't exist," Murray said. "That square footage doesn't exist here."

Less space means less money, which could be ideal for young, working professionals, Murray said. 

The project will break ground this month and will be completed in 2017. The Community Housing Project is pre-selling the units and have sold seven of the 30 condos.

If you'd like more information about buying one of the condos, call the Community Housing Project at 615-790-5556.