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Are grants available to small business to purchase abandoned houses / buildings in distressed neighborhoods?

asked 2015-08-27 16:56:29 -0700

Beau gravatar image

updated 2015-08-28 15:40:04 -0700

Laura gravatar image

Atlanta, Ga. has a project called the Beltline to be complete in 2030. The Atlanta Beltline has 75 neighbohoods scheduled to be redeveloped surrounding new in town projects ( $4.5billion staduim, Street Cars, New City Market etc)

The redeveloped neighborhoods are proven success lower crime, neighborhood schools & parks, home owners. More redevelopment is needed  Our goal is to increase neighborhood pride, increase property value, bring community members together to improve there neighborhood. We are a African American company wanting to aid in restoring urban neighborhoods.

Are grants available to small business to purchase abandoned houses / buildings in distressed neighborhoods?

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answered 2016-09-06 13:54:20 -0700

Laura gravatar image

The HUD (Department of Housing and Urban Development) 203k program provides assistance for the purchase of homes that need serious (at least $5000 worth) repairs and/or rehabilitation and could be an option for you. You can learn more about its availibility in your are through any FHA approved lender.

The Atlanta Beltline program itself has two programs which you should be perfect for. Go to the Atlanta Beltline website and read specifically about the Atlanta BeltLine Housing Initiative Program and the Affordable Housing Trust Fund. Both provide assistance to homebuyers who will improve the property.

You might also find some useful resources in this article about Black Business Resources

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