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Home > Newsroom > HUD NSP2 Grant Will Help NHTCDF and Partners Stabilize Historic DC Neighborhood
HUD NSP2 Grant Will Help NHTCDF and Partners Stabilize Historic DC Neighborhood
Description of NSP2 Project
HUD recently awarded a grant of $10.6 million to the National Housing Trust Community Development Fund for the purpose of stabilizing the Marshall Heights community, an historic, transit-connected Washington, D.C. neighborhood that has been negatively affected by foreclosures, vacancies, abandonment, and the withdrawal of public and private capital and credit.
|Residents of Copeland Manor in Marshall Heights, D.C. Copeland Manor will undergo a full renovation. |
Awarded through the Neighborhood Stabilization Program 2 (NSP2), the funds will assist NHTCDF and its partners in stabilizing the neighborhood through the acquisition and rehabilitation of rental homes in deteriorating multifamily properties. The funds will also be used to create a revolving loan fund to help finance the rehabilitation of additional homeownership or rental homes. Redevelopment of the multifamily properties will include energy efficient and green improvements.
Investment in the Marshall Heights neighborhood is expected to attract and leverage additional private capital and create more than 400 well paying jobs. Stabilizing the neighborhood will ensure that low and moderate income families can remain in a mixed-income community with access to quality education and transportation opportunities.
NHTCDF will implement the stabilization plan in partnership with the Institute for Community Economics (ICE), a community lender, and two experienced and dedicated, Washington, DC – based community developers, non-profit National Housing Trust/Enterprise Preservation Corporation, and Telesis Corporation.
NSP2 Performance Reports
Performance Report for period April 1, 2012 through June 30, 2012
Performance Report for period January 1, 2012 through March 31, 2012
Performance Report for period July 1, 2011 through September 30, 2011
Performance Report for period April 1, 2011 through June 30, 2011
Performance Report for period January 1, 2011 through March 31, 2011
Performance Report for period October 1, 2010 through December 31, 2010
Performance Report for period July 1, 2010 through September 30, 2010
Performance Report for period April 1, 2010 through June 30, 2010
Performance Report for period Jan 1, 2010 through March 31, 2010
NSP2 Award Consortium Partners
For more information about the partners involved in this NSP2 consortium, click the links below:
National Housing Trust Community Development Fund
National Housing Trust-Enterprise Preservation Corporation
Institute for Community Economics