D8 housing and econ dev bob reeder - rural lisc


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Affordable housing can do more than provide safe, secure homes to those in need. Communities have been able to maximize their housing infrastructure projects to create a better quality of life for their families, seniors, and veterans, while also creating a stronger local economy. Learn how affordable housing projects can be used to strengthen economic development and mixed-use projects in rural settings.

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D8 housing and econ dev bob reeder - rural lisc

  1. 1. Housing Assistance Council 2012 National Rural Housing Conference Promises To Keep In Challenging Times December 6-7, 2012  Washington, DC Affordable Housing as Economic Development:How Housing People Can Lead to a Stronger Economy December 6, 2012
  2. 2. LISC’S MISSION Founded in 1979 by the Ford Foundation, the Local Initiatives Support Corporation (LISC) helps nonprofit community organizations transform distressed neighborhoods into healthy andsustainable communities—good places to work, do business and raise children.In 30 cities and rural counties in 32 states, LISC mobilizes corporate,government, and philanthropic support to provide local communityorganizations with:  loans, grants and equity investments  local, statewide and national policy support  technical and management assistance
  3. 3. HOW LISC WORKS LISC is a partner and a catalyst Funders & Community Investors Organizations LISC provides advice on market activities and policy trends LISC invests financial LISC assemblescapital for community and technical investment resources to maximize results
  5. 5. RURAL LISC BY THE NUMBERS Total Investment Total Investment $913.7 million $913.7 million Dollars Leveraged Dollars Leveraged $1.82 billion $1.82 billion Affordable Homes Affordable Homes 22,549 22,549 Commercial, Industrial and Commercial, Industrial and Community Facilities Community Facilities 2.52 million sq. ft. 2.52 million sq. ft. Small Businesses Assisted Small Businesses Assisted 455 455 Jobs Created Jobs Created 5,250 5,250
  6. 6. WHERE LISC WORKS Buffalo Michigan Hartford & Washington State Pittsburgh Milwaukee (PPND) CT Statewide Detroit Cincinnati (Impact Capital) Twin Cities Indianapolis Duluth Chicago Boston Toledo Rhode Island New York City Newark & Jersey City San Francisco Philadelphia Bay Area Washington, D.C. Los Angeles Virginia San Diego Rural Pennsylvania Phoenix Greater Kansas City Houston Gulf Region (New Orleans) Mid South Delta Jacksonville (La., Miss., Ark.) 30 urban programs Rural LISC partners in 32 statesNote: 17 Sustainable Communities sites appear in blue
  7. 7. BUILDING SUSTAINABLE COMMUNITIES LISC’s strategic plan—Building Sustainable Communities—focuses on creating healthycommunities in the broadest sense and connecting residents to the mainstream economy. 1. Expanding investment in 3. Stimulating economic housing and other real estate activity, locally and regionally 2. Increasing family income and wealth Five Goals of Building Sustainable Communities 5. Fostering livable, safe and 4. Improving access to quality healthy environments education
  9. 9. Southern Mutual Help Association New Iberia, LAHopkins Street/West End Redevelopment Initiative West End homeowner in newly rehabilitated home
  10. 10. Hopkins Street/West End Redevelopment Initiative Overview 600-acre redevelopment area encompassing four distinct neighborhoods and three Census tracts. Homeownership rates in these tracts averaged 53.4%; lower than New Iberia’s rate of 62.1%, Iberia Parish’s 73.4%, and Louisiana’s 67.9%. Median year of construction for housing stock in the area was 1963 in tract 0308, 1965 in tract 0309, and 1957 in 0310. The initiative originally concentrated on revitalizing the “West End” of New Iberia, a traditionally African-American area rich in history, culture and tradition that had fallen into disrepair:  Dilapidated housing  Disinvestment  Deteriorating Infrastructure  Rising crime rates
  11. 11. Hopkins Street/West End Redevelopment Initiative Evolution Primary focus was replacing demolished homes and helping residents bring housing stock in compliance with the Codes. Soon realized the need to undertake a more comprehensive approach  including attracting new investment to the area  and to a partnership with the City and parish, leading to the creation of the Hopkins Street Redevelopment District. Added were: new sidewalks, streetscapes and storm water run-off upgrades. The area had no grocery store; as a result of Southern Mutual’s initiative, a family of national sports figures originally from the West End committed to invest over $1 million into a 17,000 square foot supermarket in compliance with the architectural code.Importance of partners: Mennonites (new definition of disaster). Southern Mutual’s major partners in thiseffort are the City of New Iberia (including the Sheriff’s Office and Office of Culture and Tourism), a privatedonor, Southern Mutual’s affiliate CDFI Southern Mutual Financial Services, Inc., Architects Southwest,and the four Neighborhood Associations being established in the Hopkins Street Redevelopment District(The People!!!)
  12. 12. Hopkins Street/West End Redevelopment Initiative The former Mrs. Bobb’s Boarding House – the only place in New Iberia where African-American musicians, attorneys or other visitors could stay overnight. An independent investor renovated the property into rental apartments. Southern Mutual purchased and installed a brass plaque that describes the building’s historic significance. A West End business, before and after.
  13. 13. Tamaqua Area Community Partnership Tamaqua, PAUpper Storey Development in Downtown Tamaqua Downtown Tamaqua, PA
  14. 14. Upper Storey Development in Downtown Tamaqua Objective: encourage residential/commercial development of the under-used second and third floors of historic buildings in Tamaqua’s Main Street area.  A study was conducted to determine available space/development possibilities.  A video, “Looking Up”, was created and posted with others on the TACP website to inform the general public about possibilities and attract interest.  Two world-class artists from New York City have purchased buildings in the Main Street area and created live/work spaces. (Tamaqua is 2.5 hours from NYC.)  As part of ongoing development efforts several trips have been made to New York City to attract more artists. Results  More jobs created and quality housing needs filled.  Residential/commercial spaces create greater customer base for existing businesses as well as increase new business development in the area.  Local economy is improved for everyone.
  15. 15. Rural Ulster Preservation Company (RUPCO) Kingston, NY Lace Factory Renovation Hulking eyesore to hipster haven Abandoned lace factory in Kingston’s Midtown area
  16. 16. Lace Factory Renovation Create 55 residential artist lofts with gallery space in a 56,470-square-foot brick manufacturing building that has sat dormant for decades.  Located in old industrial area in Kingston, two hours north of New York City.  Site currently attracts vandalism and burglary. Artists served as urban pioneers in gritty, industrial neighborhoods such as New York City’s SoHo; the Lace Factory renovation will be Kingston Midtowns catalyst for gentrification.  Artists are a leading indicator of economic revival. Artist housing improves neighborhoods. Safety, community, diversity and local commerce all benefit.  Further development in the area could lead to the creation of a specialty business zone for digital media artists working in the entertainment industry. $16-million project will be financed through low-income housing and historic preservation tax credits. At least 85 percent of the units will be rent-subsidized, available only to people making less than 60 percent of area medium income. Kingstons Planning Board unanimously approved the Lace Factory site plan. Construction is scheduled to start in spring 2013, with the Lace Factory lofts slated for spring 2014 opening.
  17. 17. Kentucky Highlands Investment Corporation London, KYHouseboat to Energy Efficient Residences (HBEER) Prototype housing unit manufactured in existing houseboat factories
  18. 18. Houseboat to Energy Efficient Residences (HBEER) Development partners used the resources of the University of Kentucky College of Design and its Center for Applied Energy Research to create a design for an affordable, energy efficient, single family home that will sell for around $100,000 and cost $1.65 per day to power. Home includes two bedrooms, one bathroom, laundry, living space and fully equipped kitchen. Approx. 1,000 square feet. Design vision combines  Under-utilized manufacturing and material resources  Growing pressure to conserve energy  Need for affordable housing Result  Struggling families given hope  Devastated industries revitalized  New ideas deployed to preserve energy resources
  19. 19. Houseboat to Energy Efficient Residences (HBEER), Cont. Design Features  Incorporate processes allowing manufacture in existing houseboat factories with minimal retooling.  Capitalize on the cost efficiency of a modular, factory-built home, while retaining the quality workmanship of a home that will appreciate in value.  Ability to control home quality in the factory setting is also critical to several of the energy efficiency attributes.  The same transportation method used to deliver houseboats used to deliver homes to construction sites. 80 percent of houses made with Kentucky products, increasing jobs created or saved. Use of local materials also saves transportation costs, making HBEER a more environmentally friendly choice.
  20. 20. Economic Development Generated By Housing Development Activity  Healthy neighborhoods  Revitalized local economies  Create skilled jobs  Increase household income  Greater spending capability  Healthy construction supply chain  Increase local spending  Grow local income tax and business tax base  Attract additional investment
  21. 21. CONTACT INFORMATION Bob Reeder Program Director Rural LISC 1825 K Street NW Suite 1100 Washington, DC 20006 (202) 739-0885 jreeder@lisc.org www.lisc.org/rural