HUD’s Investment Generates Private Investment

HUD’s Office of Sustainable Housing and Communities (OSHC) reports in its attempt to coordinate housing and jobs in specific communities, in 2010 and 2011 it awarded 152 grants in 48 states totaling $240 million that in turn generated $253 million in private investments and commitments from local partners. HUD’s investment of $95.8 million in 2011 generated $115 million in matching and in-kind contributions, more than 120 percent of the original investment. “HUD estimates that its two years of grant funding will have a positive impact on 133 million Americans by helping their communities and regions become more efficient and competitive while improving their quality of life,” according to the report. As an example, the Aerotropolis Initiative in Memphis, Tenn. integrated housing, transportation and economic development in stimulating investment near the Memphis airport. Developed in collaboration with FedEx, Graceland, and biodevice companies Medtronic and Smith Nephew, MHProNews has learned the initiative will lead to the creation of 3.000 jobs and millions in private capital investment.

(Graphic credit: Dept. of Housing and Urban Development)

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