Will be used for Vision Russell
LOUISVILLE, Ky. (Dec. 13, 2016) — Louisville will receive a $29.5 million implementation grant through the U.S. Department of Housing and Urban Development’s (HUD) Choice Neighborhoods Initiative program to revitalize the Russell neighborhood.
The federal funding is expected to leverage more than $200 million in private, foundation, nonprofit and public dollars to fully implement Vision Russell, a comprehensive transformation plan for the neighborhood, starting with a phased deconstruction and redevelopment of the Beecher Terrace public housing site. Vision Russell was developed over the past two years by Louisville Metro Government, the Louisville Metro Housing Authority (LMHA) and community residents, agencies and leaders.
Vision Russell efforts will focus on several key components in transforming the neighborhood, including:
- Tearing down and redeveloping Beecher Terrace into a sustainable, multi-generational, mixed-income, mixed-use development
- Developing one-for-one, off-site replacement housing for Beecher Terrace residents in their neighborhoods of choice
- Increasing safety and security
- Re-creating strong retail and service centers within the neighborhood
- Improving educational and health outcomes for Beecher Terrace and Russell households; and
- Improving community connectivity
Construction in Russell will start in mid- to late 2017 and continue for seven years. At least 25 percent of the work will be performed by minority-owned businesses, 10 percent by female-owned businesses, and a half percent by businesses owned by disabled people.
The strategies and goals included in Louisville’s Choice implementation grant application, sent to HUD this summer, were identified by a committee comprised of Russell residents, community and business leaders, and city and LMHA officials. This two-year planning process was funded through a $425,000 planning grant that HUD awarded to the Housing Authority in January 2015 and a $600,000 leveraged contribution from Louisville Metro Government.
In June, HUD awarded LMHA an additional $1 million action activities grant to kick-start efforts to enhance and accelerate other redevelopment within the Russell neighborhood. Louisville Metro Government leveraged an additional $375,000 for that effort.
In August, the agencies were notified that Louisville was one of five cities selected as a finalist for implementation funding. Today, HUD announced that Louisville and all four of the other cities – Camden, N.J., Boston, Denver and St. Louis – will receive implementation grants, for a total of $132 million.