Here’s why the strategy works for Clear Blue. Ashley Stockton-Massie joins Laura Calugar for an insightful podcast discussion.
In today’s complex environment that makes it hard to secure favorable financing terms, The Clear Blue Co.—a developer and owner-operator of workforce and affordable multifamily properties based in Nashville, Tenn.—has found a way to make its projects pencil out. The company does acquisitions and rehabilitations by leaning in on its relationship with long-term partners.
“We’ve been creative and changed our acquisition strategy a little bit as a result of acquisition-rehab and preservation really becoming more complicated,” said Ashley Stockton-Massie, the firm’s recently appointed director of affordable acquisitions and development, in the February episode of the Mission Success: Women in Multifamily podcast series.
READ ALSO: National Affordable Housing Report
Last year alone, between November and December, The Clear Blue Co. closed around 26 transactions in seven different states, with the goal to preserve the properties’ affordability. The developer also has a strong pipeline of new affordable housing construction projects. Most recently, CBC started work on Northview, a 254-unit development in downtown Nashville built on church land. Through such strategic partnerships, the company continues to focus on its mission to ease the affordable housing crisis, despite challenges in the affordable housing financing landscape.
In this podcast with Multi-Housing News Senior Editor Laura Calugar, Stockton-Massie also talks about her activity as an avid affordable housing advocate. She recently got involved in launching the Tennessee chapter of Women’s Affordable Housing Network, an organization that aims to advance women’s leadership in the sector.
Here are other topics you’ll hear about in this episode:
- Stockton-Massie’s role within The Clear Blue Co. (0:55)
- The challenges of today’s financing environment (2:24)
- Biggest pain points in the industry (3:57)
- Changes contributing to easing the housing crisis (8:06)
- How affordable housing owners can maintain financial feasibility in the long run (10:43)
- The Clear Blue Co.’s projects (12:44)
- What Stockton-Massie is most proud of (15:52)
- Thoughts on diversity, equity and inclusion (18:20)
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