A formerly crime-ridden public housing project has been redeveloped as a HUD Hope VI project. Many see as a successful turnaround, bringing in subsidized renters and buyers as well as market-rate homeowners.
"Until a few years ago, Salishan presented a different image. Its previous incarnation, as a public housing project, 855 barrack-style homes built in the 1940s, was notorious for its high crime rate. Then, in 2004, the Tacoma Housing Authority began to demolish the project and move its 3,000 tenants to other public housing or subsidized rental units."
"The new Salishan is a Hope VI development, a program of the Department of Housing and Urban Development that converts distressed public housing into mixed-income communities. The developments continue to serve poor residents but also provide market-rate homes for sale."
"Late last year, the first phase of the Hope VI neighborhood opened to new as well as former residents - 30 percent of whom have so far decided to return."
"When the 188-acre development is completed in 2009, it will have about 250 market-rate houses, 100 below-market-rate houses and 815 subsidized rentals. Financing for the project includes a $35 million federal Hope VI grant, $9 million from the Washington State Housing Trust Fund, and about $60 million in private funds generated from the sale of low-income tax credits."
FULL STORY: In Tacoma, Recreating Public Housing
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