KCDC Receives $6.5 Million Grant from HUD for East Knoxville Neighborhood Redesign Plan

Published: 10/8/2009 5:13:09 PM

KCDC recently received a $6.5 million grant from HUD to help fund the strategic investment plan for the Five Points area of East Knoxville.

Knoxville’s Community Development Corporation (KCDC) recently received a $6.5 million grant from the U.S. Department of Housing and Urban Development (HUD). The grant will help fund KCDC’s strategic investment plan for the Five Points area of East Knoxville.

“A key aspect of KCDC’s strategic plan is to redesign neighborhoods,” said Alvin Nance, executive director and CEO of KCDC. “We’re focused now on Walter P. Taylor Homes and the surrounding neighborhood in the Five Points area, and this grant will enable us to move forward on the construction of new housing units in that community.”

The funds will be used for the construction of new apartment units to be located on the old Eastport Elementary School site, adjacent to the Walter P. Taylor Homes property. In addition to the new construction, development of that site will include the renovation of part of the existing old elementary school building.

HUD awarded $500 million in competitive grants in September to allow public housing authorities across the U.S. to build or renovate affordable rental apartments and make existing public housing units more energy efficient. These Public Housing Capital Funds awarded were provided through The American Recovery and Reinvestment Act of 2009.

Of the $500 million in HUD grants, 134 housing authorities received funds to create energy efficient communities by rehabilitating existing public housing units and 35 housing authorities received funds that allow them to proceed with redevelopment or replacement of housing developments that were stalled because of a lack of private financing.

KCDC is one of the 35 housing authorities that received gap financing for projects that are stalled due to financing and plans to apply the grant to the overarching plan to redesign the Walter P. Taylor Homes and Dr. Lee Williams Senior Complex area in East Knoxville.

“By branching out beyond the footprint of Walter P. Taylor Homes and the Dr. Lee Williams Senior Complex, we’re advancing our vision for redesign to encompass the greater neighborhood, not just the housing properties, and to transform the community at large,” Nance said.

Thus far, KCDC has raised $20 million toward the neighborhood redesign project.

Since 1936, KCDC has been dedicated to enhancing the quality of life for the citizens of Knoxville. KCDC’s mission is to improve and transform neighborhoods and communities by providing quality affordable housing, advancing development initiatives and fostering self-sufficiency. For more information, call 865-403-1100 or visit http://www.kcdc.org.