![]() ![]() Without amenities the builders list prices range from $250,000 to $800,000. In North Nashville, there are 17 current projects. Leidel is tracking new construction projects in Nashville with at least four units and a home-owners association. And neither are the homes being built all over town. “Dirt is not cheap,” said Michael Leidel of, a real estate data collection and research firm. The developer, E3 Construction, bought both lots. And so many black seniors are cashing in.įor example, the lot at 709 26 th Ave N. Single family homes on small lots in Moody’s neighborhood are not worth as much as the land they sit on. ![]() African Americans who own their homes in North Nashville may be cash poor but they are land rich. Wilhoite is quite right to point out that home sales don’t happen without a willing buyer and a willing seller. Urban pioneers who are richer, whiter, and younger are settling into new homes in East and North Nashville that are no longer affordable to the people who once lived there. Banks are quite willing to make construction loans to people who want to build in older black neighborhoods and to make home loans to people who want to buy what they build. The practice was widespread and blatantly discriminatory. Banks used to routinely gouge or outright deny home loans to blacks in red-lined neighborhoods because it was considered a poor financial risk. If a buyer is willing to pay a certain price and a seller is unwilling to sell for one penny less, that sets the value for the entire neighborhood,” Wilhoite said.īut there is something strange going on. “People are willing to pay more so they don’t have to drive into town. Zillow ranks Nashville the 8 th hottest housing market in the U.S. According to Zillow, a real estate database company, the mean home price in Nashville is $262,400 the mean rent is $1,558. Home prices in Nashville have been steadily rising for a decade. “There’s nothing strange about that,” said Property Assessor Vivian Wilhoite. Homeowners are being offered top dollar for their homes by speculators who tear them down and replace them with tall and skinnies or change the zoning to build multi-family units on the same and adjoining lots. Not a single person on the 41-member City Council voted to preserve the old neighborhood so people could keep living where they raised their children, grow old, and leave their house to the next generation.Īside from bad policy and the officials who implement it, there are economic pressures causing the black diaspora. The Nashville Next plan is supposed to regulate growth but unchecked development is eating up North Nashville like a cancer. Dozens of projects like it are green-lit every month. The commission approved the re-zoning plan. We don’t want that and we don’t need it,” she told the 10-member Planning Commission. “We don’t want it in our area and I wish you would listen to us. She handed them a petition signed by 75 people in the neighborhood who didn’t want the multi-story apartment complex on the end of their block and didn’t want tall and skinnies looming over them either. She gave much the same speech to the Planning Commission Dec 13,2018. She spoke to the City Council Dec 4, 2018. The average person can’t afford that,” said Tonya Wade-Moody. “Where are the affordable homes? All of these people are being kicked out, put out of their homes. You’re bringing in these high-priced condos/ apartments. Tonya Wade-Moody still lives in one of the remaining homes. NASHVILLE, TN – Single-family homes used to line the 700 block of 26 th Ave N. But several lots are now empty, the modest houses gone, and the families who lived in them have moved away. Four others are already gone to make way for new development that neighbors don’t want. Part 1: What’s Killing Nashville’s Black Neighborhoods? The house at 715 26th Ave. Investigative Stories Open dropdown menu.COVID-19 Resource Center Open dropdown menu. ![]()
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