NASHVILLE, Tenn. (WTVF) — Nashville’s housing crisis continues to grow as the city faces a shortage of low-income and affordable homes for its expanding population. While there’s no single answer to this complex problem, the Catalyst Fund is emerging as one promising solution.
Vandale Gentry, owner of Gentry Investment Properties, says his mission is to keep people housed and moving toward homeownership.
“I think we were actually just blessed with the opportunity to receive funds from the Catalyst Fund,” Gentry said.
Gentry Investment Properties became the first recipient of a $450,000 loan from the Catalyst Fund, which has raised $76 million to support affordable housing. The loan helped preserve a property in Madison, near other affordable homes like the high-rise 200 Webster.
“Our very first project with the Catalyst Fund was a small quadplex. We took it and we renovated that project, and it is now thriving,” Gentry said.
Renovations continue outside, while the interior is fully updated. Gentry credits the Catalyst Fund, the Urban League of Middle Tennessee, and the Real Estate Developers Academy for financial and strategic support.
“It’s not always about making money, but if you truly have a passion for providing affordable housing to those in need. Following your heart,” Gentry said.
Launched in June 2024, the Nashville Catalyst Fund is a nonprofit loan fund designed to address the city’s housing challenges.
“We are designed to provide rapid capital to developers, first and foremost, to preserve our existing affordable housing, but also to create new affordable housing,” said CEO Jim Gingrich.
Gingrich explains that the fund is a partnership between Metro Government, the Community Foundation of Middle Tennessee, and private investors.
“The fund is able to offer below-market interest rate loans to people who are looking to preserve affordable housing, or, as I said, to construct new housing,” Gingrich said.
Gingrich calls it a vital step toward affordable housing progress.
“We could see over the course of 10 years that this fund, which is $75 million in total, could help preserve 3000 or more affordable housing units, which is just a huge return on the city’s investment,” Gingrich said.
The investment committee recently approved additional loans, with more expected to follow. Developers interested in preserving affordable housing in Nashville can apply online for these low-interest loans.
The Catalyst Fund is also raising funds and welcomes investments from those looking to support affordable housing initiatives.
Nashville’s housing crisis continues, but the Catalyst Fund is offering hope with $76 million to preserve affordable housing. Have you or someone you know struggled to find affordable housing in Nashville? Share your experience below.
This story was reported on-air by Kelsey Gibbs and has been converted to this platform with the assistance of AI. Our editorial team verifies all reporting on all platforms for fairness and accuracy.
Happy Birthday to the YMCA of Middle TN. They just celebrated their 150th anniversary! A lot has changed with the Y over the years. I have personally seen some of that firsthand when I was a long-time board member at the Northwest Family Y and part of their Black Achievers Program. Forrest Sanders has a look back.
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