FHLB Celebrates Nashville Affordable Housing Program Awards with Pinnacle Financial PartnersApril 23, 2021
On April 21, affordable housing advocates from across the Nashville area gathered to celebrate $2.4 million in FHLB's Affordable Housing Program funding given to support four organizations to create 175 new housing units.
- Woodbine Community Organization, $1,000,000
- Urban Housing Solutions, $960,000
- Rutherford County Habitat for Humanity, $300,000
- Habitat for Humanity of Greater Nashville, $137,500
“Affordable housing is one of the cornerstones of our community development effort,” said Hugh Queener, Pinnacle’s chief administrative officer. “In our 20 years, we’ve worked with the Federal Home Loan Bank of Cincinnati to help build, rehab or purchase 1,127 single-family homes and another 450 rental units. For the last year, we’ve also partnered with FHLB on disaster recovery efforts in response to the Nashville tornado and recent flooding. Our communities depend on this funding to house people and help them recover in times of need, and we couldn’t do it without FHLB.”
“This money will go to our new Legacy Point subdivision in Murfreesboro to support 15 homeowners there,” said Terri Shultz, executive director of Rutherford County Area Habitat for Humanity. “When we have a project, we’re able to turn to partners like Pinnacle and FHLB to seek advice and have conversations about where we want to take our communities. They tell us our dreams are possible, and we are proud and honored to be a part of this partnership.”