Memphis is reaching a breaking point as almost two-thirds of its residents are struggling to find – and afford – a decent place to live. In a city gripped by a housing crisis, where families routinely shell out over half their income just to keep a roof over their heads, a concerted effort from community leaders and advocates is desperately sought. A panel discussion hosted by the Urban Land Institute Memphis joined forces with local city and community group leaders to aggressively tackle the multifaceted challenges behind the affordable housing crunch that plagues Memphis.
According to Local Memphis, the statistics are bleak, with Memphis' housing deficit ballooning to an estimated 35,000 affordable units. This monumental gap is only exacerbated as families live in less-than-ideal conditions, often facing environmental hazards like lead, mold, and asbestos because, sadly, that's what they can afford. Roshun Austin, CEO of Works, Inc., painted a grim picture of the reality, revealing that even recently acquired properties were barely fit for habitation.
Amidst the dire need for change, grassroots initiatives are springing into action. As Action News 5 reported, Brandon Herrington, Chair of the Urban Land Institute, stressed the importance of creating an environment where residents can not just live, but thrive. This goal, however, remains elusive without cooperation from a wider net of organizations and entities willing to join the fight against this crisis.
The issue is not just about putting up walls and a roof, it's about quality homes that people can afford. "Having a dedicated source for the Affordable Housing Trust Fund that the city established in 2019 will lead more developers to build more affordable housing," Austin told Local Memphis. But this is only part of the solution as systemic racial inequities further complicate homeownership for Black families, with discrepancies in loan denials and home appraisals.
Furthermore, tax incentives in the form of PILOTs have become a necessity for developers, as noted by Roshun Austin in a FOX13 Memphis report. However, the efficacy of such incentives has been a topic of debate, with some advocates arguing for a stronger public housing system to apply pressure on private markets to keep prices low. This debate continues as renters seek more transparency and accountability from non-local landlords, with the panel suggesting the adoption of a landlord registry to allow tenants to better know whom they're dealing with.
A multifaceted approach is being called upon by the community, from tax incentives to better subsidized housing projects, and overhauling systemic issues that exacerbate the crisis. Memphis' challenges are many, but as discussions evolve into actions, there remains a glimmer of hope for those in the toughest situations. Twarla Guest, administrator of the Memphis Division of Housing and Community Development, summed it up best to FOX13 Memphis, "We're not receiving our fair share." A rallying cry for Memphis to bridge the wealth gap, provide quality homes, and ensure safe, affordable housing for all its residents.
