Affordable Shipping Container Housing Lands in Nashville
A new development of ‘affordable’ shipping container housing is being built in a popular district of Nashville, Tennessee. ‘Affordable’ refers to mid-market housing for professionals such as nurses, police and teachers – neither especially cheap or top end.
Let’s look at the 83 Freight development and how container construction can apply to the affordable band of housing developments.
83 Freight container housing
The development is named 83 Freight as there are 83 housing units, comprising of studio, one and two-bedroom apartments.
Construction company Groove Construction say on their website, “Groove Construction has been busy modifying and installing the shipping containers at 83 Freight to build distinctive living spaces for working professionals who do not require as many square feet as a full-size home.”
Though in some cases extremely small (the studios are just 320 square feet) the homes are very well appointed so a professional will feel at home in one.
There is a need for mid-priced housing as worldwide, incomes have not grown anything as quickly as house prices. Essential workers who may once have been able to afford decent housing have been squeezed out of the market, so specially built developments such as this are going up to meet market demand.
The US has a strong rental sector where decent housing is rented out by developers instead of being sold. According to the Nashville Post, “Shawn Bailes, president of FMBC Investments and also owner of Capital City Construction, said he is not ready to disclose whether the units will be for-purchase or for-rent”.
Rental incomes are a slower burn income but rents being higher than mortgage payments can present a higher medium term return than the short-term straight sales. The developer wouldn’t see immediate returns as they would selling the housing but the returns will be higher.
Bailes told the WSMV TV station, “So we’re taking two containers together and then cutting out the inside so you have more of a traditional living style. The shipping container is more of just a nod to the maker origins of Wedgewood Houston. It’s obviously industrial chic and it’s something that’s extremely durable.”
The 2.3 acre site is under construction so only renderings are available for it at present. Given that it will be so quickly built, it will be likely ready for residents to live in as soon as Christmas this year.
Why shipping containers?
Here at the Gateway Gazette we have in the past looked at container based social housing. This can be at best basic and at worst, outright poor housing as businesses profiteer off the backs of the most needy in society.
The 83 Freight housing development instead takes the approach of using a cheap and quick form of modular construction and makes well-fitted homes.
Repurposed shipping containers can cost as little as AU$3,000 per unit but for the
The production line reduces manpower costs, and these savings are added to when the units are brought to the site. The resulting buildings need only small foundations and in just a couple of months, after the containers are brought
Such housing can be fitted out into really nice accommodation, allowing people to live in
One of the plans for the Wedgwood-Houston site is for a professional soccer stadium to be built. The sport is growing in the US and this will draw home team fans to consider living in the area too. When a stadium full of thirsty and hungry fans pours out this injects even more money into the local economy, and if such an area already supports decent eateries and bars then the vibe of the place can only get better.
Post-industrial chic is one of the draws to living in a shipping
Triggered some ideas? Come to Gateway Container Sales!
Here in Australia we have similar problems in terms of young professionals being priced out of decent housing. Here too is a market demand for mid-priced yet decent housing for essential workers.
Could that mean you too could use our shipping containers to build an affordable housing development? As discussed there are different but high yield ROIs from rental or outright sales. Get in touch with our friendly team today to discuss your needs!