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Revitalization plans move forward in East Raleigh

NOV 6, 2015

Despite criticism from residents, city leaders have approved a revitalization plan for two East Raleigh neighborhoods.

Raleigh plans to lead revitalization efforts in East College Park, near St. Augustine’s University. DHIC, a nonprofit that builds affordable housing across the state, bought Washington Terrace last year and started the redevelopment process last month.

The City Council on Tuesday OK’d a Neighborhood Revitalization Strategy Area, which must be approved by the U.S. Department of Housing and Urban Development.

Once approved, Raleigh and DHIC will qualify for tax credits, low-interest forgivable loans and other financing options to develop affordable housing in Washington Terrace and East College Park.

 


Read more here: http://www.newsobserver.com/news/local/community/midtown-raleigh-news/article43434954.html#storylink=cpy
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