Pathway Housing Fund (PHF)

Pathway Housing Fund (PHF), was launched in 2024 by Pathway Lending, Community Development Financial Institution, a CDFI based in Tennessee. The program leverages low-cost capital to preserve unsubsidized affordable rental housing properties across Tennessee that are at risk of becoming unaffordable due to gentrification. The $30 million fund is comprised of capital commitments from leading financial institutions in Tennessee. Initial investors include Pinnacle Financial Partners, Regions Bank and First Farmers and Merchants Bank.

Through PFH, Pathway will acquire and preserve multifamily properties using the capital raised from financial institutions as equity and will leverage it with debt financing from entities such as banks and other private, public, and nonprofit sources. The fund aims to preserve rental housing for households earning between 80% and 120% of AMI.