A rehabbed home at 100 Highland Street that will add value to the neighborhood
and spur the revitalization of Brockton. |
We are continuing to develop our affordable housing portfolio. Together with our partner, the Southeastern Massachusetts Affordable Housing Corporation (SMAHC), we were awarded $2 million in federal Neighborhood Stabilization Program (NSP) funds by the state Department of Housing and Community Development (DHCD), which are being used to acquire and rehab foreclosed properties for affordable housing for a 20-year period. This NSP work is a continuation of the work begun with a grant from the Paul and Phyllis Fireman Foundation. The fact that DHCD saw the success in the "Fireman model" and invested additional funds in Brockton is a testament to Undersecretary Tina Brooks and her forward-thinking leadership team. We have targeted neighborhoods hardest hit by the foreclosure crisis of the last several years. Without stabilizing investment, they could easily decay to the point of irretrievable breakdown. The NSP grants have allowed us to stabilize neighborhoods with high-quality housing and encourage private investment. For example, in a three-block area of the Highland Newbury neighborhood, three NSP projects have spurred private investors to renovate two three-family homes, one two-family home and one single-family home. The proactive programs of DHCD, BHA and SMAHC, together with the City of Brockton and the Brockton Redevelopment Authority, have begun the turnaround of the neighborhood. Continued bridge building with the stakeholders in the neighborhood will be important to ensure the long-term vitality of the area. We are also putting more affordable housing on the market through our collaboration with the Old Colony YMCA's highly successful Youth Build Program. In 2010, Youth Build students gutted and restored a home at 100 Highland Street (acquired with NSP funds), creating an affordable home for two families. |
