NASHVILLE, Tenn. (WTVF) — For many families in Nashville, the dream of owning a home is slipping further away each year as rising prices place it just out of reach. But one local nonprofit is offering a way forward — using a Community Land Trust model to make homeownership more affordable and sustainable.
In the quiet Green Street neighborhood, one new home is serving as a beacon of hope in the city’s competitive housing market. The Housing Fund, a Nashville-based nonprofit, is spearheading the initiative with a focus on building both homes and communities.
Rachel Kelley, vice president and director of community impact for The Housing Fund, said the program is designed to help first-time buyers overcome financial barriers.
“The Housing Fund is in place to help fill that gap and to help individuals into homeownership,” Kelley said. “To me, that is something I’m very passionate about.”
The Community Land Trust model lowers costs by keeping the land in community ownership. Buyers purchase only the house, with the trust retaining ownership of the land. That structure keeps homes affordable not only for current buyers but for future owners as well.
“It means affordability is established for the first homeowner and is passed down to the next if the house is sold,” Kelley said. The goal is to help buyers — often those “right in the middle” who don’t qualify for low-income housing but still struggle to afford rising market prices — create generational wealth.
To qualify for the program, applicants must be first-time homebuyers, earn no more than 80% of Nashville’s area median income and secure financing through the organization’s preferred lender.
The Housing Fund has already placed six families in homes and is building five more. Two of those properties are nearing completion, with homes priced under $300,000. Each is designed to blend seamlessly into surrounding neighborhoods, offering three bedrooms and two-and-a-half baths within minutes of downtown.
The nonprofit is hosting an open house on Wednesday from 3 to 6 p.m. at 46 Green Street for anyone interested in learning more about the Community Land Trust program and how to apply.
In addition, The Housing Fund will celebrate its 30th anniversary on Thursday, June 11, with events from 12 to 2 p.m. and again from 4 to 6 p.m.
More information, including application details, is available at thehousingfund.org/community-land-trust.
This story was reported on-air by journalist Kelsey Gibbs and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
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