Nashville’s housing agency plans to rehab two properties even as the city takes over public housing from the federal government.
The Nashville Metropolitan Development and Housing Agency will release its 600-page five-year plan to the federal government soon, Nashville Public Radio reports. The plan overview is available here. Council will consider it next Tuesday.
The developments slated for an overhaul are J.C. Napier and Tony Sudekum. Much of the focus is on transforming an area adjacent to Fort Negley from low-income into apartments rented to low, moderate and higher income residents. It’s estimated to cost nearly $600 million dollars, Nashville Public Radio says.
MDHA is using a federal policy that transfers ownership of housing property from the federal government to local agencies, allowing them to take out loans.
In June the city broke ground on a 40-townhome affordable housing community in the Bordeaux Redevelopment District, WKRN recently reported. Target renters may be police officers or teachers who make up to 120 percent of the area’s median income.