HUD AWARDS NEARLY $30 MILLION TO LOUISVILLE METRO TO REVITALIZE RUSSELL NEIGHBORHOOD
Louisville Metro among five "Choice Neighborhoods" selected nationwide

LOUISVILLE - U.S. Housing and Urban Development (HUD) Secretary Julián Castro today announced a $29,575,000 Choice Neighborhoods Grant to the Louisville Metro Government and Housing Authority for the Russell neighborhood as well as four other cities nationwide totaling $132 million through HUD's Choice Neighborhoods Initiative. The other cities receiving awards include: Denver; Boston, Massachusetts; St. Louis; and Camden, New Jersey.

Confetti falls as happy Russell neighborhood children join local leaders and HUD celebrate in the nearly $30 million Choice Neighborhood Grant Announcement that will positively impact their neighborhood. Photo attribution: Louisville Metro Government

The Choice Neighborhoods Initiative is part of the Administration's drive to reinvest in neighborhoods of concentrated poverty by revitalizing distressed federally supported housing 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," 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 Implementation Grant will leverage public and private funds to revitalize the Russell Neighborhood with 640 new, mixed-income housing units, in addition to providing support for homeowner rehabilitation," announced Jemine A. Bryon, HUD General Deputy Assistant Secretary for Public and Indian Housing. "It will catalyze neighborhood economic and cultural growth with the launch of an eCommerce Business Incubator, a media-production center, and small business loans. And, most importantly, it will create educational and economic opportunities for Russell families."

"Russell has a proud history, but as rich as that history may be, Russell's best days are ahead, thanks to this grant and the vision of a renewed Russell," said Mayor Greg Fischer. "The goal will be to create a renaissance in Russell that will provide citizens here with more and better options for housing, transportation, education and employment. Plus, more access to grocery stores, green spaces and goods and services that will help people here enjoy a greater quality of life."

Through the award of nearly $30 million for the FY 2016 Choice Neighborhoods Implementation Grant and significant leverage from public and private sources, Louisville is ready to put their plan for Russell into action. HUD previously awarded two Choice Neighborhoods Grants for Planning/Action that helped the community prepare its plans and visionfor this implementation grant.

Their vision is for Russell to become a diverse and culturally vibrant neighborhood that is recognized for its economic, educational, and housing opportunities, as well as its sustainable residential and business environment. The housing authority, the City, and their development partner, McCormack Baron Salazar Inc. will replace the deteriorated Beecher Terrace with 640 mixed-income units that reflect historic and contemporary designs, offer first-floor retail, and are reconnected to the neighborhood street grid. The site will also feature a new park with sports fields, a community pool, and a pavilion that will feature festivals and cultural events. An additional 438 project-based vouchers will be awarded to private developers to create mixed-income developments in opportunity-rich neighborhoods across Louisville.

The Louisville Team will also work to improve educational and economic outcomes for children and families. Urban Strategies, a national nonprofit, and a variety of partners will connect residents to training, entrepreneurship, and financial literacy efforts that will prepare them for new jobs created in and outside of Russell. Jefferson County Public Schools will lead partners in bolstering quality early education and launching an innovative school Transformation Model to turn around the Roosevelt Perry Elementary School.

Read a comprehensive summary of each the Choice Neighborhood grants announced today.

Choice Neighborhoods build on the successes of HUD's HOPE VI Program, linking housing improvements with a wide variety of public services and neighborhood improvements to create neighborhoods of opportunity. With today's announcement, HUD has awarded more than $633 million in Choice Implementation Grants since 2011. Choice Neighborhoods is focused on three core goals:

1. Housing: Replace distressed public and assisted housing with high-quality mixed-income housing that is well-managed and responsive to the needs of the surrounding neighborhood;
    
2. People: Improve educational outcomes and intergenerational mobility for youth with services and supports delivered directly to youth and their families; and
    
3. Neighborhood: Create the conditions necessary for public and private reinvestment in distressed neighborhoods to offer the kinds of amenities and assets, including safety, good schools, and commercial activity, that are important to families' choices about their community.

Choice Neighborhoods is HUD's signature place-based program, which supports innovative and inclusive strategies that bring public and private partners together to help break the cycle of intergenerational poverty. The program also encourages collaboration between HUD and the Departments of Education, Justice, Treasury and Health and Human Services to support local solutions for sustainable, mixed-income neighborhoods with the affordable housing, safe streets and good schools all families need.

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HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov.

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