Micro Homes
Micro Homes, built on foundations, typically fall in the 500 square foot range. They allow affordability for single occupants and couples, offering low maintenance and cost-effective utilities.
Wharf Ave.
Wharf Avenue:
The Wharf Avenue development, a collection of four (4) one-bedroom homes on two adjoining lots, is made possible by the City of Nashville’s R6 zoning. Through a Horizontal Property Regime (HPR), each home may be owned separately, while the land underneath the homes is co-owned and managed through a HOA.
The properties were purchased with an award for the Mayor’s Barnes Fund Housing Trust, which focuses on increasing affordable housing stock in Nashville. Construction funds for the project were provided by means of a line of credit through Regions Bank. Regions will receive CRA credit for this activity, an incentive for their participation in the project. AHR will sell and assist the homebuyers in obtaining mortgages on the homes.
The homes have appraised for $180,000. AHR plans to help borrowers nance the homes for $140,000 to cover construction cost and to have a $40,000 second lien, due on sale, to reach the appraised value. Though not built to a third-party standard, the homes are designed with energy efficiency in mind. Blower door tests were performed twice during construction: once pre-drywall and once at the completion of construction. The nal blower door tests were between 2.7 and 3.5 ACH50; local code requires scores of 7 ACH50 or below. Through a testing and verication process performed by a credentialed energy rater, the homes have received official HERS scores, ranging from 51 to 54.
by: Erica Francis
Non-profit works alongside Metro’s Affordable Housing Task Force to expand housing options:
NASHVILLE, Tenn. (WKRN) — Mayor John Cooper says Nashville’s housing needs are urgent. It’s why he created the Affordable Housing Task Force at the beginning of this year, comprised of area experts to address the affordable housing deficit in Music City.
Though the task force’s work is just getting started, other work, through the non profit, Affordable Housing Resources, is already being done.
Four micro-homes and two three-bedroom affordable homes are currently on the market, with four more three-bedroom homes being completed in March. Built by Affordable Housing Resources (AHR), these homes are one of the many ways AHR is working to solve the affordable housing crisis in Nashville.