Nashville Launches Housing Resource Website for Teachers and Housing Nashville Report
In an effort to support teachers who want to live and work in Davidson County, Nashville Mayor Megan Barry, working with Alignment Nashville and Metro Nashville Public Schools, has launched the Nashville Teacher Housing website as a resource for educators in Davidson County to find access to more affordable housing options.
“Access to affordable housing is a key component of our overall strategy to retain and attract great teachers in Nashville,” said Mayor Megan Barry. “I appreciate the support of Alignment Nashville and all of the private developers and apartment managers who value our great teachers and have stepped up to make this private-public partnership a reality.”
This partnership with local area developers and apartment managers encourages discounts and other special offers for teachers, while providing a one-stop shop for information related to financing, purchasing, or renting more affordable housing. Nine private and non-profit apartment managers have signed up for the launch of the website and are offering specials to teachers looking for a place to buy or rent. More resources will be added to the site over time as more private and non-profit partners are engaged.
“Teachers are the backbone of our public education system,” said Melissa Jaggers, President and CEO of Alignment Nashville, a non-profit organization dedicated to improving educational opportunities for youth, which designed the website along with the Mayor’s Office and MNPS. “We hope the launch of this website will encourage more apartment managers and developers to see the value in providing affordable options for educators to be able to live in the community where they teach, which is an important piece of making sure our community welcomes and supports one of our most valuable resources, our teachers." The website is a strategy that emerged from a newly created Alignment Team, co-led by the Mayor’s Office, focused on Teacher Recruitment and Retention that brings together district and community partners to support the district’s efforts in this area.
The need for teacher housing resources is outlined in Mayor Barry’s Housing Nashville Report released today. The report is a comprehensive overview of the current affordable housing landscape, as well as projected needs going into 2025, along with strategies to fund, build, retain, and preserve affordable and workforce housing in Nashville.
“The value of homes has risen sharply in Nashville over the last five years, which puts a strain on the supply of affordable housing for individuals and families who haven’t seen their income increase as much,” said Mayor Barry. “This report, outlining needs and strategies, will help guide our efforts to preserve and expand affordable housing options in the coming years.”
Housing Nashville identifies an existing gap of 19,000 affordable rental units for households earning less than 60% of the Median Household Income (MHI) or $35,882 per year for a family of four. If left unaddressed (by city and business leaders, the development community, and neighborhoods), and if current market conditions continue and incomes don’t start to rise, Nashville could face a gap as high as 31,000 affordable rental housing units by 2025.
In order to address the growing deficit of affordable and workforce housing, Mayor Barry has proposed a number of strategies involving the public, private, and non-profit sectors.
“Government will not be able to meet our needs alone,” said Mayor Barry. “We’ll need private and non-profit support, as well as community support for affordable and workforce housing throughout Nashville, if we are going to meet the needs of our entire community.”
In the FY17-18 Capital Spending Plan, Mayor Barry has proposed allocating $25M in general obligation bond funds to acquire and rehabilitate existing multi-family rental units, as well as adaptively reusing buildings and developing housing on Metro-owned properties.
The FY17-18 recommended operating budget includes $10 million for the Barnes Trust Fund for Affordable Housing, continuing the Mayor’s commitment of $40 million for the fund by the end of her first term. The administration has also proposed the Housing Incentive Pilot Program, which is a private-public partnership with developers and apartment managers to create mixed-income workforce and affordable housing options in new and existing multi-family complexes.
Full Housing Nashville Report and more information