NASHVILLE, Tn. (June 9, 2025) — The Tennessee Housing Development Agency (THDA) awarded $600,000 to Waverly Housing Authority from the Tennessee Housing Trust Fund (THTF) on Monday, June 9. THTF grants are awarded to eligible non-profit partners, public housing authorities, development districts and local communities to address the housing needs of the most underserved Tennesseans. In 2021, flooding destroyed 62 affordable housing units in the Waverly community. This funding will aid rehabilitation for several of the remaining units.
“The Waverly community suffered an immense loss in 2021 due to widespread flooding of the area. Through the Tennessee Housing Trust Fund, THDA is proud to support the work of Waverly Housing Authority to restore some of the affordable housing units in the area,” said Executive Director of THDA, Ralph Perry.
The soon to be updated units are located on Richland Avenue. Renovations will include new exterior and interior paint, new appliances, doors, windows, flooring and other necessary repairs.
“This grant from THDA will assist us in continuing to maintain affordable housing in Waverly,” said Derwin Jackson, President and CEO of the Waverly Housing Authority. “As construction costs continue to rise, it becomes a challenge to find funding to meet those rising costs. Grants and partnerships such as this with THDA help us to fill the gap.”
According to the National Low Income Housing Coalition, renter households in Tennessee spending more than 30% of their income on housing and utilities costs are cost burdened. Additionally, renters spending more than half of their income on housing and utilities costs are severely cost burdened. THDA and partners like Waverly Housing Authority work to ensure adequate affordable housing continue to be a priority for communities in need.
THTF supports several initiatives related to affordable housing in Tennessee. The initiatives include a capacity building program, the emergency repair program, the home modification and ramp program, rebuild and recover and the development gap subsidy program.
