![]() “Putting labels on these things is quite dangerous,” Adenubi said. According to Adenubi, the most affluent area in this part of Nashville is Mulberry Downs, where the top homes sell for approximately $250,000, which is basically the wheelhouse for middle-income homeowners.īut, juxtaposing “workforce housing” with “section 8” is what created a firestorm. These apartments would certainly be in line with the demographics of the neighborhood. “While some people who qualify for a Section 8 subsidy might end up renting apartments there, that’s not what’s going to happen with a majority of the units.” “They heard ‘workforce’ housing and they immediately thought it was Section 8 housing,” Adenubi said. Why would people be so opposed to building housing for middle-income earners?”Īdenubi quickly realized it was because of a lack of education on what exactly workforce housing is and a misguided belief about what workforce housing would bring to a neighborhood. “The people came out in droves to oppose this development,” she said. As such, a Zoning Board meeting commenced, and Adenubi was floored by what happened next. However, to develop this land, Dominium needed it to be rezoned. Little did she know the fight she was going to be up against.ĭominium had placed a contract with zoning contingency on her listing – a tract of land for this development – which they called the Preserve at Highland Ridge – located on Dickerson pike about eight miles and a short 15-minute jaunt from downtown. So, it made sense to Adenubi to work with Dominium to acquire her listing and to develop apartments in a city like Nashville where affordable housing has grown scarce. ![]() They can’t afford to live in communities where they work. A lot of middle-income folks face the same housing issues. As such, they must live much further away and endure lengthy commutes just to get to the job, and often they will leave after just a year or two, making teacher retention such a difficult task for school districts to manage.īut it’s not just teachers. Many teachers who are starting a job for the first time are looking for a place to live close to the school and many find they can’t afford to live there. According to Adenubi, a newly hired teacher in Nashville metro schools who has a Master’s degree makes an average salary of $45,629 annually and therefore would not qualify to rent a two-bedroom apartment.Īnd it’s a problem across America, not just Nashville. ![]() That means that the average annual rent is $18,432. In 2019, that price has nearly doubled to $1,536 per month. “I was very unaware of the income discrepancy for what it takes someone to rent,” Adenubi said.Īccording to WKRN news, in 2011 the average monthly rent for a two-bedroom apartment in Nashville was $825. Not because she’s not educated in real estate, but because she didn’t realize the many trap doors that exist when trying to develop affordable housing, especially in hot markets like Nashville where home prices are rising faster than wages. So, when she listed a property that Minnesota-based Dominium – one of the largest affordable housing development and management companies in America – was interested in developing for an apartment complex in Nashville to build 261 units of “workforce housing,” Adenubi had to up her game. Moren Adenubi is not your average REALTOR®, but even still, three years ago she wasn’t exactly sure how to properly define “workforce housing.”Ī Certified Commercial Investment Member (CCIM) and a Certified Property Manager (CPM), Adenubi often tries to find commercial property for businesses, especially in the Nashville area where she is based as the managing broker for Crown Realty Experts in suburban Goodlettsville. ![]()
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