NASHVILLE, Tenn. (May 20, 2019) – Urban Housing Solutions broke ground today on Phase III of 26th & Clarksville, an affordable housing facility serving low-income seniors, aged 62 and above.
The complex at the corner of 26th Ave N. and Clarksville Pike in North Nashville, will include 55-units, 52 of which have Project-Based Vouchers from Nashville’s Metropolitan Development & Housing Agency (MDHA). By the rules of this program, if a resident’s total rent and projected utility bills exceed more than 30 percent of their monthly income, HUD will provide a monthly subsidy to cover the excess.
Residents of the facility will have access to onsite supportive services. Urban Housing Solutions is collaborating with community partners to implement an integrated model for health and wellness called “TN-SILVER” (Supportive Integrated Living for Vulnerable Elderly Renters). This will include programming at an onsite community building, the integration of technology solutions to help residents live independently, and healthcare at an onsite clinic that will occupy ground-level commercial space. A service coordinator will be employed at the property to help residents take advantage of amenities and services.
“TN-SILVER is a comprehensive solution at a time when North Nashville is experiencing a housing shortage and rapidly expanding populations of low and moderate income older adults who are at risk of displacement from the community. Residents will be enabled to age safely and successfully in their community and continue to be an integral part of the community—a model I hope will be adopted by other affordable housing developers,” says Vickie Harris, Founder and CEO of Community ConneXor and a lead consultant for the TN-SILVER initiative.
The complex is Phase III of a multiphase development. Phase I, completed in March 2017, and Phase II, which will open this summer, offer a combined 86 mixed-income apartments, including housing for working artists. The vision for 26th & Clarksville is an intergenerational, arts-inspired community.
“The intergenerational community at 26th & Clarksville will bring together new and longtime residents, key service providers, and major community institutions through a common, creative purpose. Using best practices in sustainable and supportive senior housing design, these apartments will provide comfortable, healthy, and dignified living with community features that promote an active lifestyle among all residents,” says Rusty Lawrence, Founder and Executive Director of Urban Housing Solutions.
Urban Housing Solutions secured $11 million in Low Income Housing Tax Credits as part of the Tennessee Housing Development Agency’s (THDA) 2018 Innovation Round. The Innovation Round provides an opportunity for private and nonprofit developers to earn housing credits for construction and/or renovation projects that include social services on site or offer other unique advantages to low-income residents.
“THDA is proud to support innovative projects like 26th & Clarksville that not only address the critical issue of housing affordability for seniors but also the affordability of healthcare, transportation, and the other daily needs for the people who live here,” said THDA Executive Director Ralph M. Perrey.
The Low Income Housing Tax Credit (LIHTC) program was created under President Reagan to incentivize nonprofits and the private sector to build and/or renovate apartments for people who earn significantly less than the area’s average annual income. THDA administers the federal program at the state level in Tennessee, including allocating tax credits and monitoring compliance.
In addition to funding from THDA’s housing credit program, Urban Housing Solutions will finance construction with a loan from Pinnacle Bank. Additionally, a grant from the Fifth Third Foundation will partially fund the installation of a solar panel array to energize the building; a program Urban Housing Solutions has called “Solar for Seniors.”