Mike Reicher Nashville Tennessean Published 11:00 PM EST Feb 18, 2019 The redevelopment of Nashville’s largest and oldest public housing complex is behind schedule, and officials are scrambling to finance it. As thousands of low-income renters’ homes hang in the balance, new documents show the city’s sweeping proposal may be more difficult than officials have let on. Only 70 homes have been built since the master plan for the first 2,400 residences was released in 2014. Construction at the James A. Cayce Homes is expected to last another decade. Eventually, the Metropolitan Development and Housing Agency hopes to build more than 8,500 new residences in the urban core, replacing rundown public housing from the 1940s and 1950s. City leaders want vibrant urban neighborhoods with a mix of affordable and market-rate residences — a vision to break up poverty and improve renters’ lives. But it’s a painstakingly slow process as MDHA officials scrape together whatever funding they can find. MDHA is selling off publicly owned land and borrowing against its newer buildings to finance the redevelopment. Despite the need for cash, an MDHA-led committee didn’t sell to the highest bidder on one high-profile land sale, choosing to forgo $19 million. New records show the government agency is now… Read full this story
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