PBS’ WHYY recently featured Purpose Built Communities’ Network Member REACH Riverside Development Corporation and The WRK Group in a documentary entitled “Resurrecting Riverside.” CEO Logan Herring of REACH Riverside reminds us that neighborhoods like Riverside can achieve holistic revitalization to not only survive but thrive and remain vibrant communities.
With the cost of living continuing to rise, in a significant boost to affordable housing in Detroit, city officials, including LISC Detroit, Invest Detroit, and members of the City Council, celebrated the grand opening of “The Ribbon,” a groundbreaking multi-use development by local developer Edward Carrington of Flux City Development. This $8.2 million project, the largest along the E. Warren Ave. corridor in decades, adds 18 new affordable housing units to the city’s growing inventory, marking a pivotal step in addressing the community’s housing needs.
A former Kmart in Abingdon is now home to a workforce development and child care hub launched by EO, a nonprofit that spun off from the United Way of Southwest Virginia to oversee workforce development programs. EO received the certificate of occupancy for the 87,000-square-foot Regional Workforce and Child Development Hub and began moving employees into the center at the end of August, a week earlier than anticipated, says Mary Anne Holbrook, EO’s vice president of development. By mid-September, all 44 EO employees had moved in. A grand opening celebration is set for the week of Oct. 21.
The U.S. Department of the Treasury’s Community Development Financial Institutions Fund announced $5 billion in New Markets Tax Credits today that will spur investment and economic growth in low-income urban and rural communities nationwide. A total of 104 Community Development Entities were awarded tax credit allocations, made through the 2023 round of the New Markets Tax Credit Program.
An urban agriculture campus that will help build economic development and manufacturing that will improve the quality of life for residents in Auburn Gresham and the surrounding communities launched recently.
SAN ANTONIO — San Antonio is getting hundreds of new affordable homes. City Council approved four new projects to increase options across the city. They are spread out in different parts of the city; in districts two, three, four and five. In all, the four projects will mean more than 700 affordable homes for families who qualify.
We are pleased to share our 2023 activities as a CDE under the CDFI Fund’s #NMTC Program. Last year, our projects served over 30,000 low-income individuals residing in distressed communities. We look forward to continuing to make the NMTC Program the most effective tool for creating quality jobs, and bringing community services, healthcare, education, and needed development capital to impoverished communities across America.
COHOCTON, NY - State and local leaders cut the ribbon on a new renewable energy facility at Lent Hill Dairy Farm in Steuben County. The new plant will make clean power from cow manure and discarded food waste from nearby cheese and yogurt-making plants. The manure and food scraps will be anaerobically digested to create biogas, then converted to electricity in a high-efficiency generator at the Lent Hill farm and added to the NYSEG grid.
The New Markets Tax Credit helps provide jobs, economic development and food security, says Dr. Chris Freeman, CFO of Bongards Creameries. He says it should be a permanent federal policy.