The City of Memphis Division of Housing and Community Development has announced that it has received a grant of $550,000 from Living Cities, an organization dedicated to improving urban communities around the United States. The funds will be used to establish a community land trust in the historic Orange Mound neighborhood.
The initiative aims at developing affordable housing options for residents while preserving the cultural heritage and fostering economic growth in the area. In addition to providing financial resources, Living Cities will also offer technical assistance and guidance on implementing best practices for inclusive development.
Paul A. Young, Director of the City of Memphis Division of Housing and Community Development, expressed his enthusiasm about this partnership with Living Cities: "We are thrilled about this new collaboration with Living Cities which will enable us to create lasting change within the Orange Mound community by offering more affordable housing solutions."
Community land trusts (CLTs) allow residents and organizations alike to collectively manage properties within designated areas. They operate as nonprofit entities responsible for ensuring long-term affordability through strict regulations on property sales or leases.
Orange Mound is recognized as one of America's first African-American neighborhoods developed by former slaves during Reconstruction—a period following the Civil War when political rights were granted specifically for freedmen. However, today it faces numerous social challenges such as poverty rates significantly higher than national averages.
Dr. Brenda Williams-Dean, President & CEO at Neighborhood Preservation Inc., commented on how crucial these efforts are in revitalizing this historic community: "By establishing a community land trust in Orange Mound we can ensure that current residents have access not only to affordable housing but also benefit from any future economic development projects."
In order to maximize its impact on local communities across America, Living Cities collaborates closely with city governments like Memphis', private corporations along with other philanthropic organizations—all working together towards creating sustainable improvements within underserved urban landscapes.
Ben Hecht, President and CEO of Living Cities, expressed his optimism for the long-term effects this grant will have on Orange Mound: "We are excited to support the City of Memphis and its dedicated local partners in their efforts to create a more equitable future for all residents. This community land trust initiative has great potential to become a model for other cities looking to address housing affordability and preserve cultural heritage."
As the project moves forward, it is expected that additional resources will be needed from both public and private sources. However, with this significant initial investment from Living Cities, Orange Mound is poised to take an important step towards revitalization while ensuring that affordable housing remains a key priority within the community.