Next City highlighted the work of community development financial institutions (CDFIs), including BlueHub Capital, in addressing the housing crisis through innovative and community-centered approaches. BlueHub Loan Fund has provided key financial support for two adaptive reuse projects in North Nashville—The Wilder and The Perch at the Wilder—transforming former motels into mixed-income housing developments that offer much-needed affordable rental units in a rapidly changing city.
These projects, led by Wilder Development, demonstrate how repurposing underutilized properties can provide sustainable housing solutions. "Equitable housing isn’t an issue for tomorrow’s Nashville; it’s an issue right now," says Clay Adkisson, a partner at Wilder Development. "The speed of adaptive reuse—compared to traditional ground-up construction—is the only way we can compete against market forces, development timelines, and interest rates to keep affordable products coming online at a time when they are most urgently needed."
However, securing funding for adaptive reuse projects can be complex. Traditional lenders often hesitate to finance these conversions due to perceived risks, but CDFIs like BlueHub step in to fill this critical gap. BlueHub’s investments in the Wilder and Perch projects are part of a broader effort to support developments that preserve community character while expanding access to affordable housing.
These projects not only provide much-needed homes but also contribute to economic growth by creating jobs and revitalizing neighborhoods. The success of The Wilder and The Perch at the Wilder serves as a model for other cities exploring adaptive reuse as a solution to their housing challenges.
To learn more about how BlueHub and other stakeholders are driving change through adaptive reuse, read the full story on Next City.