The city of Memphis is taking a largely hands-off approach to reaching Mayor Paul Young’s goal of adding 10,000 new or renovated homes to its housing stock by 2030.
Achieving this total would require nearly doubling the number of homes built across the city each year. One expert has called this increase “extremely ambitious.” But since Young announced the goal in his February State of the City address, his administration has clarified that developers will decide most of the details, including unit types, locations and prices.
Officials acknowledge that Memphis needs an estimated 39,000 units of affordable housing to meet the current demand. But they have declined to make any specific commitments about the affordability of these 10,000 new homes…