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Nashville Housing Summit Wednesday @ Library


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Ok, let me start by saying I am 'jazzed' about Nashville and downtown progress. I have seen Mayor Purcell speak many times before but he was 'on' today and left the attendes wanting more. He recapped the progress made in the last 5 years since the first Housing Summit.

Housing stock increased from 867 units in a city of almost 600K to 1517 units (double) and is set to double again next year and double again in 2010 for a total of over 6000 core units and reaching the critical 10K downtown residential population.

Nashville has been able to exponentially increase the housing stock and keep a commitment to 20% affordable housing

Spoke matter-of-factly about Signature and Encore developments and Rolling Mill Hill's 1100 plus residential units.

Downtown residential occupancy rates are over 95% by far the highest percentage in the city.

Over $1.6 billion in invested in downtown in the last five years.

Mayor understands the need for new office building as a critical component to continue the growth. Called out Vancouver as a city with incredible residential density downtown but neglected the office towers and now all the residents are forced to reverse commute to the 'burbs to work. Said Nashville will learn from their experience that workers and residents must grown hand in hand to obtain the idea 1 to 7 ratio.

He talked of future residential, retail and schools located downtown and the importance of connecting the core and the surrounding communities together as they grow.

Panel discussion was informative if not spectacular. Mark Deutschmann from Village Realty and Tony Giarratana discussed the pent up demand for d

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In the article Hank Helton, director of development for the Metropolitan Development and Housing Agency is quoted as saying that 19,000 additional affordable housing units added in Nashville since 1999. That is an astouding number! I knew the number was large, but this is amazing. How can the Census Bureau come to the conclusion that the city has only grown by about 2,000 residents between 2000 and 2004? It just doesn't seem possible.

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