Ashley Stockton-Massie leads the affordable housing platform at The Clear Blue Co., overseeing both the preservation and development of affordable homes across the Southeast and Midwest.
Her leadership supports the Nashville-based firm’s growing portfolio of more than 6,700 affordable housing units and $1 billion in assets.
As director of affordable acquisitions and development, her work covers multiple strategies, including preserving existing housing through general partner interest acquisitions, Housing Assistance Payment contract acquisitions, and low-income housing tax credit rehabilitation projects, as well as developing new affordable housing communities.
Her recent work spans both sides of the platform. On the development side, The Clear Blue Co. and its partners recently transformed an underutilized church-owned property into Northview, a new construction community with 254 needed affordable homes for active seniors. The project goes beyond housing by offering wellness programs and services designed to promote healthy aging. On the preservation side, she led the acquisition of Northwood Park Apartments in Lebanon, Tenn., where a comprehensive renovation is now underway, and saw Crescent & Chapel in Ripley, Tenn., through to completion in partnership with the Ripley Housing Authority.
Stockton-Massie serves on the Tennessee chapter of the Women’s Affordable Housing Network. She’s also an active member of Urban Land Institute, the National Housing & Rehabilitation Association, and the Tennessee Developers Council. In addition, Stockton-Massie serves on the alumni council for Auburn University’s Master of Real Estate Development program and recently completed an immersive affordable housing certificate program to further expand her expertise.
What do you find most rewarding about your job?
I always say that I could work in acquisitions or development in any sector of real estate, but it’s the affordable piece that makes my work so rewarding. Affordable housing allows me to combine my passion for real estate with my desire to serve others. It’s an opportunity to make a tangible difference in people’s lives and contribute to something much bigger than any individual transaction or development. Knowing that the work we do can create lasting opportunities for families and strengthen communities is what keeps me motivated.
Who or what inspires you?
My parents have been two of my greatest inspirations. My father dedicated his career to serving our country in the U.S. Army, and my mother had the incredible ability to make every house we lived in feel like home. Growing up in a military family, we moved frequently and lived in different countries, but no matter where we landed, my mom created a sense of stability, belonging, and community.
Looking back, I think those experiences shaped my passion for affordable housing more than I realized. My father taught me the importance of service and leadership, while my mother showed me that a home is so much more than four walls. Both lessons influence the way I approach my work today.
How do you explain the importance of affordable housing to someone outside the industry?
I love answering this question because I think there’s often a misconception about who affordable housing serves and what it looks like. Affordable housing isn’t just for one demographic or income level. It’s for the teachers, nurses, first responders, young professionals, seniors, and families who make our communities function. These are often the very people who contribute so much to our neighborhoods but increasingly struggle to afford to live in them.
I like to remind people that affordable housing isn’t simply a housing issue—it’s an economic development issue, a workforce issue, and ultimately a community issue. When people can afford to live near where they work, everyone benefits.
If you could share one lesson with someone just starting their career in affordable housing, what would it be?
Never stop being curious, and don’t be afraid to challenge the way things have always been done. Affordable housing is complex, and there is rarely just one way to solve a problem. Some of the best solutions come from asking questions, understanding perspectives outside your own area of expertise, and being willing to think differently.
I also believe relationships are everything in this industry. The ability to bring people together, build trust, and work toward a common goal will take you further than simply knowing how to structure a deal. Learn the technical side but invest just as much in the people around you.
What’s one thing people would be surprised to learn about you?
I grew up as a lifelong Army brat and have lived in three countries: the United States, Germany, and Saudi Arabia. When I share that, people often ask sympathetically whether moving so frequently was difficult. My experience was quite the opposite.
Growing up in military communities gave me a broader worldview, taught me to embrace change, and instilled a deep appreciation for people from different backgrounds and walks of life. It taught me adaptability, empathy, and the importance of community. Those experiences shaped who I am, both personally and professionally, and I believe the world could use a little more of the perspective that comes from growing up that way.
What would your team say is your signature phrase or habit?
“Person versus position.” I’m naturally wired to think in processes, and I often remind my team to separate the person from the position when we’re working through a challenge.
In development, there are so many moving pieces and people involved that it’s easy to focus on who is responsible when something isn’t working. I prefer to step back and understand the process itself. Is the responsibility clearly defined? Is the right information getting to the right person? Are we setting people up to succeed?
I’ve found that when you focus on improving the process rather than assigning blame, you not only solve the immediate problem but often prevent it from happening again. It’s an approach that has shaped how I lead teams and navigate complex transactions.