HUD Awards $132M To Improve Distressed Neighborhoods

December 13, 2016 | By Jerry Ashworth | Post a Comment

Sometime you just need a helping hand, especially this time of year. This week, the Department of Housing and Urban Development awarded $132 million to five U.S. communities to redevelop severely distressed public or assisted housing and revitalize surrounding neighborhoods.

slums-1565129The grants were awarded through HUD’s Choice Neighborhoods Initiative, which provides funds to neighborhoods of concentrated poverty to help them revitalize distressed federally supported housing and turn it into sustainable, mixed-income housing with access to transit, better schools and jobs. “These game-changing investments will breathe new life into distressed neighborhoods and offer real opportunities for the families who call these communities home,” HUD Secretary Julian Castro said. “What we do today will leverage private investment and bear fruit for generations of families looking for an opportunity to thrive in neighborhoods that are connected to the economic and social fabric of their communities.”

The five awardees will replace 1,853 severely distressed public housing units with nearly 3,700 new mixed-income, mixed-use housing units as part of an overall effort to revitalize neighborhoods. For every $1 in Choice Neighborhoods funding they receive, the awardees and their partners will leverage an additional $5 in public and private funding for their project proposals.

HUD received 34 applications for the FY2016 Choice Neighborhoods Implementation Grants. The following communities will receive grant funding: Housing Authority of the City and County of Denver, Colo. and the City and County of Denver, $30 million; Louisville (Ky.) Metro Housing Authority and the Louisville Metro Government, $29.575 million; Boston Housing Authority and the City of Boston; $30 million; City of St. Louis, Mo., $29.5 million; and the Housing Authority of the City of Camden (N.J.) and the City of Camden, $13.246 million.

Hopefully, these funds will assist these communities in turning these eyesores into quality neighborhoods.

Let us know what you think about this award funding. We’d love to hear from you.

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