Metro Council moves forward with affordable housing resolution
The resolution is called the ‘Community Covenant’ and is geared toward making Nashville an affordable place to live.
NASHVILLE, Tenn. (WSMV) - The new Metro Council met for the first time on Tuesday evening at the Metro Courthouse and one of their first priorities is figuring out how to make Nashville affordable again.
The Council discussed a plan to reduce the cost of living in the Nashville area, which has been a topic of discussion for a while now.
The resolution is called the Community Covenant, which was first introduced four years ago. The goal is to make Nashville more affordable, reduce poverty, and give people living here more opportunities to stay in the city.
Nashville is a leader in the nationwide apartment boom and not the type of affordable apartments many renters want.
A recent report from Rentcafe said nearly 9,000 new units are expected to be built this year.
In the last two years, more than 21,000 were built, and 89% of the units completed are high-end.
The vast majority of the construction is centered in Davidson County, Murfreesboro, Gallatin, and Franklin.
Copyright 2023 WSMV. All rights reserved.