October 15, 2026—The Essential Housing program is expanding to Soulsville, thanks to an exciting partnership between the City of Memphis and Shelby County Community Redevelopment Agency (CRA), City of Memphis, and the Health, Educational and Housing Facility (HEHF) Board. Developed by the CRA, the Essential Housing program provides technical assistance, financial assistance, and available land to emerging developers to restore and rebuild neighborhoods.

Essential Housing aligns with the South Memphis/Soulsville Community Redevelopment Plan by creating affordable, high-quality homes for working families. The Soulsville TIF Community Advisory Committee (a group of residents and stakeholders) and the Soulsville Neighborhood Development District (SNDD) are partnering with the CRA to ensure all new housing reflects the neighborhood’s values and adopted plan. The program will partner with local organizations, churches, and stakeholders to bring quality, affordable, for-sale and rental housing to vacant land in Soulsville.

With high demand and increasing material costs, building affordable homes is more difficult than ever. The CRA can provide meaningful gap funding to mitigate these challenges. Since its launch in 2025, 25 developers are constructing 92 units in Binghampton and Uptown.

With a goal of 10,000 new housing units by 2030, Mayor Paul Young is excited for the program’s expansion.

“This $7 million investment is going to allow us to expand the Essential Housing program into South Memphis. This is a kind of investment that can help define the future of an entire neighborhood and become the model for how we change the course of our city.”

The program will launch in 2027.

About the CRA
The CRA was established as a catalyst for the restoration of communities by removing blight and providing affordable housing. The CRA serves as a joint agency of Shelby County and the City of Memphis, established in 2017. Our community-based approach to neighborhood redevelopment through reinvestment leverages Tax Increment Financing (TIF), grants, and partnerships as important and strategic tools for implementing the agency’s goals. We envision every neighborhood in the City of Memphis and Shelby County providing its residents with a healthy, safe environment, economic opportunity, affordable housing, and an excellent quality of life.

About The Health, Educational, and Housing Facility Board
The Health, Educational, and Housing Facility Board of Memphis is a public corporation authorized by the laws of the State of Tennessee to issue tax-exempt revenue bonds and to use other financing vehicles for the development of multi-family housing facilities. The Mission of the Board is to identify structure and finance solutions to meet the health, educational, and affordable housing needs of the greater Memphis area.