Mayor Freddie O’Connell and Community Partners Launch the Nashville Catalyst Fund

Mayor Freddie O’Connell today joined the Community Foundation of Middle Tennessee (CFMT), First Horizon, the Metro Housing Division and other funding partners to launch the Nashville Catalyst Fund, a new tool to create, preserve, and develop more affordable housing. Metro and partners created the Nashville Catalyst Fund to provide fast, flexible capital to mission-driven developers to enable them to move quickly in Nashville’s competitive real estate landscape. The Fund will launch with an initial $75 million – $20 million from Metro, $50 million credit facility led by First Horizon, and $5 million from Vanderbilt University – with a goal to raise an additional $25 million. “The Nashville Catalyst Fund is a public-private partnership that builds on our existing affordable housing tools, and we expect it will help preserve and create at least 3,000 affordable places to live in Nashville over the next ten years,” said Nashville Mayor Freddie O’Connell. “The Fund will provide fast, flexible loans to help affordable housing partners preserve affordable rental homes that would otherwise be lost to the market and increase affordable housing production so more Nashvillians have dependable housing for themselves and their families for the long-term.” The loans from the fund will support affordable...