Housing GSO: HRA Greensboro Affordable Housing Plan

NEIGHBORHOOD REINVESTMENT

Cities should aim to impact at least 1 in 12 housing units in a candidate area over a five-year period to achieve neighborhood impact that can attract the private sector. Within the framework of Housing GSO, the City could implement reinvestment efforts in the five candidate areas on staggered five-year cycles. A sample approach and estimated cost to implement recommended efforts is presented below:

15 Units 15 Units 35 Units 20 Units 40 Units

~$225K

Order to Demo

~$900K

Rehab for Order to Repair

1,500 Neighborhood Housing Units

~$2.1M

Homeowner Rehab Loans

~$510K

Infill Development

Down Payment Assistance to Low-Income Buyers

~$800K

Costs incurred to touch 1 in 12 units

~$4.5M Over a 5-Year Period

125 Units

Source: ACS Estimates (2017), HR&A Analysis, NDD Prior Projects

HR&A Advisors, Inc.

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