HUD Secretary and Mayor Jones Highlight How American Jobs Act Will Further Expand on Success of Existing Neighborhood Stabilization Efforts
Project Rebuild to Help Stabilize Richmond Home Prices The U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan and Richmond Mayor Dwight Jones toured the 800 block of North 27 th Street in the Church Hill neighborhood to demonstrate how President Obama’s proposed American Jobs Act and Project Rebuild can help stabilize home prices, revitalize neighborhoods, create jobs, and support local economies throughout the City of Richmond. “Project Rebuild is fundamentally an investment not just in hard hit communities, but also in the hardworking families of Church Hill who have watched their home values plummet on average by $5,000-to-$10,000 simply because they live on a block with a foreclosure sign. The Project Rebuild investment will not only help stabilize individual home prices on the block, but it sends neighbors a hopeful message – we believe in you, we are investing in you, stay here and raise your family,” said Shaun Donovan, Secretary of the U.S. Depa...