Oct. 26, 2023 – THDA joined Crossroads Campus in North Nashville to cut the ribbon on new apartments that will provide affordable housing for teens facing homelessness.
THDA awarded Crossroads Campus a $500,000 Tennessee Housing Trust Fund grant and an additional $1.3 million in National Housing Trust Fund grants, which were used to leverage $12 million in additional funding for the property’s development.
THDA Executive Director Ralph M. Perrey said the new development will allow Crossroads Campus to expand its services to teens at risk of homelessness.
“Everyone deserves access to safe, decent and affordable housing,” Perrey said. “The funding we provided for this project helped Campus Crossroads build these new apartments that will positively impact the lives of the young people who live there.”
Crossroads Campus CEO Lisa Stetar said the project would not have been possible without the funding provided by THDA.
“Crossroads was able to leverage THDA's support through the Tennessee Housing Trust Fund and National Housing Trust Fund into a $13.5 million investment in one of Nashville’s most historically distressed census tracts,” Stetar said. “The project has created supportive, affordable housing and jobs for young adults in a community in which young people face double-digit unemployment and are struggling with homelessness.
The development consists of 16 units of rental housing for young adults who are facing homelessness, including those who have experienced foster care, juvenile justice and the effects of other past traumas. The housing is located in the Buchanan Street area of North Nashville.
The project is an expansion of an existing Crossroads Campus program where housing, employment and life skills training are provided for young adults facing homelessness. That program is combined with a pet retail social enterprise that provides pet retail services, youth employment opportunities and adoptions for homeless dogs and cats.
The Tennessee Housing Trust Fund (THTF) was created by the THDA board of directors to provide financial support for innovative, affordable initiatives that serve the housing needs of Tennessee’s most vulnerable residents.
Funding for the Tennessee Housing Trust Fund comes entirely from earnings generated through THDA’s Single Family Mortgage program. THTF grants are awarded through a competitive application process. Since 2006 THDA has provided over $117.3 million in THTF grants to local governments and nonprofit organizations across the state.