Bringing Nashville together to address affordable housing... Now.
As a partnership between Metro Nashville and the Community Foundation of Middle Tennessee, the Nashville Catalyst Fund seeks to bring together the public sector, the philanthropic community, and the private sector to help address the many challenges facing affordable housing in Nashville.
The Need For Affordable Housing in Nashville
Housing costs have skyrocketed in the past decade, the supply of affordable homes has decreased, and current market trends are making the situation worse. It continues to become more expensive to build new housing where it is needed most — close to transportation, jobs, schools, and other amenities.
More than half of Nashville renters are paying too much of their income in rent. Renters are only required to receive 30 days notice if their lease won’t be renewed, leaving too many families scrambling to find a new home with access to schools and jobs. Home prices have increased more than 40% in just the first three years of this decade. The challenges facing Nashvillians are great and the time for action is now.
The number of new housing units needed by 2030 with Nashville's current growth
The number of units needed for households earning below 80% of the median household income
The number of units a $75mm Catalyst Fund could preserve or create over 10 years
Focused on Impact
The Catalyst Fund will seek to preserve housing currently affordable to working Nashvillians and create new affordable housing.
The Fund will provide early-stage capital to mission-driven developers in Nashville so they can be more competitive in the race to preserve existing regulated and unregulated affordable housing, and to accelerate the creation of high-impact affordable housing. The Fund is also focused on enabling non-profit and emerging BIPOC developers to support effectiveness and success in the market.
The Catalyst Fund will invest in affordable housing projects that…
- Support the preservation and development of income-restricted housing for the long-term.
- Advance priority housing goals including bringing unregulated housing into income / rent regulation, and effectively serving a population with unique needs, among others.
- Offer access to opportunity while promoting inclusive economic development, or expand the capacity of the community development sector in Nashville.
How It Works
By blending capital from a range of sources, the Fund will provide early-stage capital to mission-driven developers to support the preservation and creation of affordable housing supply in Nashville.
Lending Solutions for Developers
Our lending products include Acquisition Loans for preserving and developing affordable housing, Pre-Development Loans for early-stage project costs, and Bridge Loans to bridge short-term subsidy sources. Each product is designed to support mission-driven developers in their efforts to increase affordable housing in Nashville.
Invest in Sustainable Community Growth
The Catalyst Fund, a partnership between the Metropolitan Government of Nashville, the Community Foundation of Middle Tennessee, and private sectors, aims to tackle the city's affordable housing challenges. An $80 million Catalyst Fund over 10 years could create or preserve over 3,100 affordable homes for Nashville residents.
Our Investments
Explore our diverse portfolio of completed, ongoing, and planned projects, each contributing to the growth of affordable housing in Nashville.
