Tuesday November 22, 2005
Mayor Jerry Abramson, Congresswoman Anne Northup and local officials kicked off the development of a vacant and wooded five-acre piece of property along Brenda Drive in Newburg, a neighborhood undergoing metro-sponsored revitalization efforts for more than a year.
“This development will breathe new life into Newburg, a neighborhood once known for its abandoned homes and declining property values,” said Abramson. “Twenty-four new homes will attract new residents and provide a new source of pride for Newburg.”
Metro government owns the five-acre tract, on which Housing Partnership Inc. (HPI) will build 24 new, single-family homes. HPI is partnering with David Cosby Construction to complete infrastructure work including clearing the area and building roads. The homes, which are both ranch and two-story homes, starting at approximately 1,100 square feet, are expected to sell in the low $100,000s.
The Louisville Metro Department of Housing and Community Development will provide down-payment assistance for potential owners who qualify, and HPI will offer a homeownership program of education and financial counseling.
The $1.2 million development includes a $280,465 disaster-recovery grant from U.S. Department of Housing and Urban Development for drainage mitigation work on the property, and $620,000 in Economic Development Initiative funds secured by Northup.
Abramson unveiled a $2 million revitalization plan for Newburg in April 2004. The comprehensive housing and community-building program is designed to increase home-ownership rates, property values and opportunities for young people in the historic neighborhood.
As part of the revitalization effort, the Metro Housing Department has worked with 78 families to rehab their homes, including weatherization and roof repairs, and has provided 14 households with down-payment assistance. Non-profit groups New Directions and YouthBuild performed the home rehabs. In addition, HPI and the Louisville Urban League are working with nearly 200 Newburg families in financial-counseling classes for first-time homeownership, and the Urban League also has a satellite office open once a week to field general questions about homeownership, rental and financing.
The Housing Partnership is a private, non-profit corporation that develops modestly priced housing opportunities, facilitates the development of such housing by others, and educates and assists those seeking quality housing that is affordable to them.