Mayor Megan Barry joined with officials from THDA, MDHA and the Be A Helping Hand Foundation to celebrate the completion of affordable housing units at 2106 and 2108 14th Ave North.
“This is a great example of federal, state, local and not-for-profit partners coming together to help improve the quality of life for families in need of a little help,” said Mayor Megan Barry. “Ensuring that working families can continue to live in Nashville will require our combined efforts on projects both large and small to promote access to safe, affordable housing for all.”
The Be a Helping Hand Foundation leveraged $262,942 from the Barnes Fund, $128,536 from MDHA through the HOME Investment Partnerships Program, and $256,000 from Tennessee Housing Development Agency to construct the homes. The completed project consists of two units, both with two four-bedroom homes, providing a total of four homes with a monthly rent of $670 for low-income families that earn 50% of AMI or below with disabilities.
“Providing high-quality, affordable homes in our city helps to create stronger families and a more vibrant community,” said Mark Wright, executive director of the Be a Helping Hand Foundation. “Not only were we able to give four families new homes to raise their families, but we also provided job opportunities for local workers in the process.”
The homes were constructed to be energy efficient with Energy Star rated doors, windows, insulation, HVAC and appliances, with rain gardens set to be installed. The properties are also in compliance with Visitability and Universal Design standards to be wheelchair and handicapped accessible.
“This project is a great example of what it takes to keep Nashville affordable,” said Jim Harbison, executive director of MDHA. “It’s all of us working together, and no one understands that better than our great new mayor.”
THDA’s investment of $256,000 came from its Housing Trust Fund. The THDA Housing Trust Fund was established in 2006 by the board of directors to meet the housing needs of very low income households including very low income elderly and special needs populations.
The Competitive Grants is a statewide program that provides funding for rental housing projects that include new construction, acquisition, rehabilitation, and conversion of non-residential buildings to residential units. THDA is committed to working with local communities and non-profit agencies to make decent, safe and affordable housing available to all residents of the state.
“THDA is committed to supporting local efforts to serve targeted populations,” said Ralph M. Perrey, THDA executive director. “We are glad to be a part of this work in Nashville.”
The Barnes Fund for Affordable Housing makes competitive grants to nonprofit housing developers to increase affordable housing options for Nashvillians. Grants include funding for renovation or construction of affordable homeownership and rental opportunities and other supportive efforts to encourage affordability. Funds can be leveraged by nonprofit developers with other existing tax credit and funding programs.
Metro government contracts with The Housing Fund, Inc. to manage and administer the Fund.
The Housing Fund, Inc. (THF) is a private, non-profit organization established to finance affordable housing and neighborhood revitalization projects throughout Middle Tennessee.