FOR IMMEDIATE RELEASE
Holly Bowman, The Housing Fund
THE HOUSING FUND ACQUIRES NEW OFFICE BUILDING IN MADISON, TENNESSEE
Nashville, Tenn. (July 18, 2022)- The Housing Fund has acquired a building in Madison, Tennessee as their new office space. This space opens similar opportunities to The Housing Fund and the community as their original office space did in the Gulch for over a decade.
The mixed-use property at 305 11th Avenue South was created in 2003, consisting of The Housing Fund’s office space and 48 units of affordable housing for people at or below 60% of the Area Median Income. The Gulch property was awarded the Urban Land Institute innovation award in 2004. In 2021, the property was renamed “Owens Place on Laurel” after the founder of The Housing Fund, Loretta Owens, and in celebration of the 25-year anniversary of The Housing Fund.
For 16 years, The Housing Fund operated at Owens Place. In January 2020, The Housing Fund staff relocated to Vantage Way with the objective of leasing their previous space at Owens Place. The demand for retail space in the Gulch had increased significantly and The Housing Fund sought an opportunity to maximize the use of the space.
In March 2022, The Housing Fund signed a contract to acquire 1009 Gallatin Pike in Madison. After months of planning, The Housing Fund finalized plans for renovations and received approval to begin construction on the building. The building is estimated to be completed by the end of 2022.
The Housing Fund plans to bring more than just their office to the Madison community. As Madison continues to grow and develop, The Housing Fund hopes to help grow the amount of affordable housing in the community as they did with their space in the Gulch.