Today, Secretary Donovan traveled south to Atlanta to highlight the continued success of the Neighborhood Stabilization Program (NSP). Along with Mayor Kasim Reed, Secretary Donovan visited, The Retreat at Edgewood – a 100 unit townhouse and stacked flats multifamily project.
Nestled within the Edgewood Community of Atlanta, the project is set to create 40 NSP assisted units which will be set aside for the Atlanta Housing Authority through their Project Based Rental Assistance Program. Not too long ago, this neighborhood like many others was filled with vacant and abandoned properties. Thanks to the $2.7 million in NSP funds, this neighborhood is beginning to thrive and properties values are beginning to rise.
But wait, there’s more. This is just the start of something beautiful for the City of Atlanta and all across the country. Project Rebuild, a component of President Obama’s Jobs Act promises to build upon the success of NSP. Under NSP, Edgewood Project is already set to create 165 jobs and if enacted, Project Rebuild will create over 600 jobs in the City of Atlanta alone. This means that as much as $4.7 million will be put back into Atlanta to not only put Americans back to work but to revitalize our homes, our business and our communities. Across the State of Georgia, Project Rebuild will create nearly 7,000 jobs and provide as much as $543 million to revitalize neighborhoods. This is just in the State of Georgia alone! Across the country, Project Rebuild will be putting nearly 200,000 Americans back to work.
Project Rebuild has the ability to allow cities across the country to create the much needed jobs while revitalizing their dilapidated neighborhoods. But don’t take my word for it. Visit HUD’s website to learn more about Project Rebuild and the impact it could have in your community.