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Dominion outlines financing and entitlement hurdles for affordable housing; board seeks follow-up session
Summary
Dominion told the Industrial Development Board on Nov. 12 that high land prices, elevated capital costs and entitlement uncertainty are the main barriers to affordable-housing deals; speakers described a federal tax-test change that could increase bond availability but also warned of market impacts on tax‑credit pricing.
At the Nov. 12 ad hoc Industrial Development Board meeting, Austin Holmes of Dominion and Frank Hogan of Collier Securities briefed board members on national financing dynamics and the local implications for Nashville.
Austin Holmes said three headwinds dominate feasibility: elevated interest rates, construction pricing that remains above pre‑pandemic levels, and land prices that have stayed high because many landowners are not compelled to sell. "Land is the single biggest item that is not an eligible basis," Holmes said, explaining that…
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