HUD Archives: News Releases
HUD No. 02-096
August 20, 2002
MARTINEZ AND NORTHUP BREAK GROUND FOR $46.5 MILLION HOMEOWNERSHIP
PHASE OF LOUISVILLE'S HOPE VI DEVELOPMENT
Public-Private Revitalization Project Will Result in 300 New Homes
WASHINGTON, DC - Housing and Urban Development Secretary Mel Martinez and Congresswoman
Anne Northup today were part of a groundbreaking ceremony for 300 new homes
at the Park DuValle HOPE VI development in Louisville, Kentucky. This phase
of the Park DuValle development, totaling $46.5 million, is an example of local,
state and federal agencies working with the private sector and non-profit organizations
to revitalize this Louisville neighborhood.
"The Bush Administration is committed to increasing the number of minority
homeowners by 5.5 million by the end of the decade," said HUD Secretary
Mel Martinez. "The revitalization of Park DuValle is another step towards
that goal and a success story about building lives and providing economic opportunity
for Louisville families."
"I am very pleased that Secretary Martinez accepted my invitation to visit
Louisville's HOPE VI program at Park DuValle," said Rep. Northup. "One
of the most important things we can do to revitalize communities is to encourage
homeownership, and HUD's HOPE VI grant is helping many families in Park DuValle
to enjoy a better quality of life."
The HOPE VI program is designed to revitalize neighborhoods by turning distressed
public housing into thriving new communities. In 1996, the Housing Authority
of Louisville (HAL) received $20 million through HUD's HOPE VI Program to revitalize
the former Cotter and Lang Homes public housing developments. Upon completion
of Park DuValle, the new community will have 1,213 housing units including 613
mixed-finance rental units, 450 homes and 150 off-site public housing units.
The $46.5 million includes $36.9 million in private financing, $5.4 million
in HAL funds and $4.2 million in HOPE VI funds.
The HOPE VI program was created as a result of a report by the National Commission
on Severely Distressed Public Housing, which found nearly 100,000 public housing
units in the U.S. in need of revitalization. The HOPE VI grants, first awarded
by HUD in 1993, have five objectives:
- Improve public housing by replacing severely distressed public housing projects,
such as high-rises and barracks-style apartments, with townhouses or garden-style
apartments that blend aesthetically into the surrounding community.
- Reduce concentrations of poverty by encouraging a mix of incomes among
public housing residents and by encouraging working families to move into
housing that is part of revitalized communities.
- Provide support services, such as education and training programs, child
care services, transportation and counseling to help public housing residents
get and keep jobs.
- Establish and enforce high standards of personal and community responsibility
through explicit lease requirements.
- Forge partnerships that involve public housing residents, state and local
government officials, the private sector, non-profit groups and the community-at-large
in planning and implementing new communities.
Since 1993, HUD has awarded 165 grants to 98 cities. The program's $4.55 billion
in awards has leveraged more than $8.4 billion in public and private funds.
HUD is the nation's housing agency committed to increasing homeownership, particularly
among minorities, creating affordable housing opportunities for low-income Americans,
supporting the homeless, elderly, people with disabilities and people living
with AIDS. The Department also promotes economic and community development as
well as enforces the nation's fair housing laws. More information about HUD
and its programs is available on the Internet.
Content Archived: April 9, 2010