Downtowns Eligible for Funding Opportunity

Posted On: June 26, 2023

Chris Shirey

Downtowns across America are eligible for a HUD Funding Opportunity to create more affordable housing options. The HOPE VI Main Street Program is making available a generous $2 million grant to assist communities in developing affordable housing in central business districts, commonly referred to as Main Street areas, that are undergoing revitalization. HUD’s primary focus for this funding opportunity is to target downtown areas of cities.

Downtown Funding Opportunity

“HUD recognizes that cities are in need of revitalization across the country,” says HUD Secretary Marcia Fudge. She emphasizes the urgency of revitalizing cities nationwide. The key objectives of the HOPE VI Main Street Program are multi-faceted.

  • First, it aims to redevelop downtown areas, breathing new life into these vital sections of cities.
  • Additionally, the program seeks to preserve the historic or traditional properties within Main Street areas by repurposing unused commercial spaces into affordable housing units
  • The program also promotes the conservation of architectural heritage while addressing the pressing need for more affordable homes.
  • The program aims to enhance economic development efforts within Main Street areas, stimulating local businesses and fostering community growth
  • Finally, the program emphasizes the provision of affordable housing within these central business districts. It will further enable individuals and families to access safe, affordable homes in desirable locations.

Notice of Funding Opportunity

Who is eligible for this funding opportunity. Government leaders over cities with a population of 50,000 or less. Moreover, these cities must have 100 or fewer public housing units. HUD hopes this targeted approach ensures smaller communities receive necessary resources to revitalize their downtown areas and provide affordable housing options. Finally, the NOFO represents an important step towards creating vibrant and inclusive communities. HUD is working towards the shared goal of fostering economic growth and providing housing opportunities for all.

Applications will be accepted until October 1, 2023.



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