On Wednesday, Mayor Andy Berke joined other officials and developers on tours of homes and apartments that have been made possible through funding from the city of Chattanooga’s Department of Economic and Community Development.
The developments Berke toured, such as Chattanooga Neighborhood Enterprise’s Mai Bell Apartments, are meant to provide affordable housing around the city.
“[The city] has a lot of development going on, and it’s raising costs for everyone else,” Berke said. “That’s hard on people with fixed incomes.”
Chattanooga Neighborhood Enterprise President and CEO Martina Guilfoil said that in some areas it’s harder to make housing affordable for everyone.
“The challenge with [Mai Bell] in Highland Park is nothing like this has been built here before,” she said. “The appraisal came in low, and we had to raise equity to complete the project.”
Through the city’s Community Development Block Grant, CNE was able to secure $435,500 for 11 income-restricted apartments at Mai Bell. Click here for more background.