NASHVILLE, Tenn. (WTVF) — As Nashville continues to grow, city leaders are moving forward with the largest single round of affordable housing funding in Metro history, approving $40.2 million aimed at creating or preserving more than 1,100 homes across the city.
The funding comes through the Barnes Housing Trust Fund and will support 14 nonprofit organizations working to address Nashville's ongoing housing affordability challenges.
For Cheryl Floyd, an early childhood teacher at the McNeilly Center, affordable housing has long been difficult to find.
“I’ve been in Nashville for over 30 years, and finding affordable housing really has always been a problem,” Floyd said.
Before moving into Park24 in East Nashville, an affordable housing development supported by a previous Barnes Fund grant, Floyd said the cost of simply getting to work added to her financial burden.
“I was taking Uber and Lyft, and I am saving over $400 a month in Uber and Lyft fees,” she said.
Now, Floyd lives close enough to walk to her job.
She said the move has provided more than just a shorter commute.
“I was paying a lot of money for housing and homes that were not great,” Floyd said. “One of the things that I love about living over here is that it is brand new. I’m the only person who's lived in the apartment.”
Nashville's rapid growth has brought new residents and investment, but it has also driven up housing costs. Floyd said that reality is becoming increasingly difficult for many workers.
“People will pay to come here, but then they can’t afford to live here,” she said. “So that’s the biggest problem.”
The latest Barnes Housing Trust Fund allocation is expected to help create or preserve 1,106 affordable homes throughout Nashville. City leaders say the goal is to ensure that the people who work in Nashville can also afford to remain in the city.
For Floyd, affordable housing has made it possible to stay near her workplace and become part of the neighborhood she serves.
“I’m grateful that I’m within walking distance of my job at McNeilly Center,” she said. “I’m so glad just to be here.”
She said having a home near work provides peace of mind, especially when money is tight.
“I feel that God has blessed me to be right in this neighborhood where I work,” Floyd said. “If I just happen not to have the budget, I can walk to work.”
The grants are expected to be finalized by the end of November pending Metro Council approval.
Since its creation, the Barnes Housing Trust Fund has invested $224 million in affordable housing initiatives and leveraged nearly $2 billion in federal and private funding. Those investments have helped build or preserve more than 7,600 homes across Nashville.
Do you have more information about this story? You can email me at kelsey.gibbs@newschannel5.com
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