Affordable housing can do more than provide safe, secure homes to those in need. Communities have been able to maximize their housing infrastructure projects to create a better quality of life for their families, seniors, and veterans, while also creating a stronger local economy. Learn how affordable housing projects can be used to strengthen economic development and mixed-use projects in rural settings.

1. Housing Assistance Council
2012 National Rural Housing Conference
Promises To Keep In Challenging Times
December 6-7, 2012  Washington, DC
Affordable Housing as Economic Development:
How Housing People Can Lead to a Stronger Economy
December 6, 2012

2. LISC’S MISSION
Founded in 1979 by the Ford Foundation, the Local Initiatives
Support Corporation (LISC) helps nonprofit community
organizations transform distressed neighborhoods into healthy and
sustainable communities—good places to work, do business and raise children.
In 30 cities and rural counties in 32 states, LISC mobilizes corporate,
government, and philanthropic support to provide local community
organizations with:
 loans, grants and equity investments
 local, statewide and national policy support
 technical and management assistance

3. HOW LISC WORKS
LISC is a partner and a
catalyst
Funders & Community
Investors Organizations
LISC provides advice
on market activities
and policy trends LISC invests financial
LISC assembles
capital for community and technical
investment resources to maximize
results

4. LISC BY THE NUMBERS

5. RURAL LISC BY THE NUMBERS
Total Investment
Total Investment
$913.7 million
$913.7 million
Dollars Leveraged
Dollars Leveraged
$1.82 billion
$1.82 billion
Affordable Homes
Affordable Homes
22,549
22,549
Commercial, Industrial and
Commercial, Industrial and
Community Facilities
Community Facilities
2.52 million sq. ft.
2.52 million sq. ft.
Small Businesses Assisted
Small Businesses Assisted
455
455
Jobs Created
Jobs Created
5,250
5,250

6. WHERE LISC WORKS Buffalo
Michigan Hartford &
Washington State Pittsburgh
Milwaukee (PPND) CT Statewide
Detroit Cincinnati
(Impact Capital)
Twin Cities Indianapolis
Duluth
Chicago
Boston
Toledo
Rhode Island
New York City
Newark &
Jersey City
San
Francisco Philadelphia
Bay Area
Washington, D.C.
Los Angeles
Virginia
San Diego Rural Pennsylvania
Phoenix
Greater Kansas City
Houston Gulf Region
(New Orleans)
Mid South Delta Jacksonville
(La., Miss., Ark.)
30 urban programs Rural LISC partners in 32 states
Note: 17 Sustainable Communities sites appear in blue

7. BUILDING SUSTAINABLE COMMUNITIES
LISC’s strategic plan—Building Sustainable Communities—focuses on creating healthy
communities in the broadest sense and connecting residents to the mainstream economy.
1. Expanding investment in 3. Stimulating economic
housing and other real estate activity, locally and regionally
2. Increasing family
income and wealth
Five Goals of
Building Sustainable
Communities
5. Fostering livable, safe and 4. Improving access to quality
healthy environments education

8. RURAL LISC FACT SHEET

9. Southern Mutual Help Association
New Iberia, LA
Hopkins Street/West End Redevelopment Initiative
West End homeowner in newly rehabilitated home

10. Hopkins Street/West End Redevelopment Initiative
Overview
 600-acre redevelopment area encompassing four distinct neighborhoods
and three Census tracts.
 Homeownership rates in these tracts averaged 53.4%; lower than New
Iberia’s rate of 62.1%, Iberia Parish’s 73.4%, and Louisiana’s 67.9%.
Median year of construction for housing stock in the area was 1963 in tract
0308, 1965 in tract 0309, and 1957 in 0310.
 The initiative originally concentrated on revitalizing the “West End” of New
Iberia, a traditionally African-American area rich in history, culture and
tradition that had fallen into disrepair:
 Dilapidated housing
 Disinvestment
 Deteriorating Infrastructure
 Rising crime rates

11. Hopkins Street/West End Redevelopment Initiative
Evolution
 Primary focus was replacing demolished homes and helping residents bring
housing stock in compliance with the Codes.
 Soon realized the need to undertake a more comprehensive approach
 including attracting new investment to the area
 and to a partnership with the City and parish, leading to the creation of
the Hopkins Street Redevelopment District.
 Added were: new sidewalks, streetscapes and storm water run-off upgrades.
 The area had no grocery store; as a result of Southern Mutual’s initiative, a
family of national sports figures originally from the West End committed to
invest over $1 million into a 17,000 square foot supermarket in compliance
with the architectural code.
Importance of partners: Mennonites (new definition of disaster). Southern Mutual’s major partners in this
effort are the City of New Iberia (including the Sheriff’s Office and Office of Culture and Tourism), a private
donor, Southern Mutual’s affiliate CDFI Southern Mutual Financial Services, Inc., Architects Southwest,
and the four Neighborhood Associations being established in the Hopkins Street Redevelopment District
(The People!!!)

12. Hopkins Street/West End Redevelopment Initiative
The former Mrs. Bobb’s Boarding House
– the only place in New Iberia where
African-American musicians, attorneys or
other visitors could stay overnight. An
independent investor renovated the
property into rental apartments.
Southern Mutual purchased and installed
a brass plaque that describes the
building’s historic significance.
A West End business, before and after.

13. Tamaqua Area Community Partnership
Tamaqua, PA
Upper Storey Development in Downtown Tamaqua
Downtown Tamaqua, PA

14. Upper Storey Development in Downtown Tamaqua
 Objective: encourage residential/commercial development of the under-used
second and third floors of historic buildings in Tamaqua’s Main Street area.
 A study was conducted to determine available space/development
possibilities.
 A video, “Looking Up”, was created and posted with others on the TACP
website to inform the general public about possibilities and attract interest.
 Two world-class artists from New York City have purchased buildings in
the Main Street area and created live/work spaces. (Tamaqua is 2.5 hours
from NYC.)
 As part of ongoing development efforts several trips have been made to
New York City to attract more artists.
 Results
 More jobs created and quality housing needs filled.
 Residential/commercial spaces create greater customer base for existing
businesses as well as increase new business development in the area.
 Local economy is improved for everyone.

15. Rural Ulster Preservation Company (RUPCO)
Kingston, NY
Lace Factory Renovation
Hulking eyesore to hipster haven
Abandoned lace factory in Kingston’s Midtown area

16. Lace Factory Renovation
 Create 55 residential artist lofts with gallery space in a 56,470-square-foot brick
manufacturing building that has sat dormant for decades.
 Located in old industrial area in Kingston, two hours north of New York City.
 Site currently attracts vandalism and burglary.
 Artists served as urban pioneers in gritty, industrial neighborhoods such as New
York City’s SoHo; the Lace Factory renovation will be Kingston Midtown's
catalyst for gentrification.
 Artists are a leading indicator of economic revival. Artist housing improves
neighborhoods. Safety, community, diversity and local commerce all benefit.
 Further development in the area could lead to the creation of a specialty
business zone for digital media artists working in the entertainment industry.
 $16-million project will be financed through low-income housing and historic
preservation tax credits.
 At least 85 percent of the units will be rent-subsidized, available only to people
making less than 60 percent of area medium income.
 Kingston's Planning Board unanimously approved the Lace Factory site plan.
Construction is scheduled to start in spring 2013, with the Lace Factory lofts
slated for spring 2014 opening.

17. Kentucky Highlands Investment Corporation
London, KY
Houseboat to Energy Efficient Residences (HBEER)
Prototype housing unit manufactured in existing houseboat factories

18. Houseboat to Energy Efficient Residences (HBEER)
 Development partners used the resources of the University of Kentucky College
of Design and its Center for Applied Energy Research to create a design for an
affordable, energy efficient, single family home that will sell for around $100,000
and cost $1.65 per day to power.
 Home includes two bedrooms, one bathroom, laundry, living space and fully
equipped kitchen. Approx. 1,000 square feet.
 Design vision combines
 Under-utilized manufacturing and material resources
 Growing pressure to conserve energy
 Need for affordable housing
 Result
 Struggling families given hope
 Devastated industries revitalized
 New ideas deployed to preserve energy resources

19. Houseboat to Energy Efficient Residences (HBEER), Cont.
 Design Features
 Incorporate processes allowing manufacture in existing houseboat factories
with minimal retooling.
 Capitalize on the cost efficiency of a modular, factory-built home, while
retaining the quality workmanship of a home that will appreciate in value.
 Ability to control home quality in the factory setting is also critical to several
of the energy efficiency attributes.
 The same transportation method used to deliver houseboats used to deliver
homes to construction sites.
 80 percent of houses made with Kentucky products, increasing jobs created or
saved.
 Use of local materials also saves transportation costs, making HBEER a more
environmentally friendly choice.

20. Economic Development Generated By Housing Development Activity
 Healthy neighborhoods
 Revitalized local economies
 Create skilled jobs
 Increase household income
 Greater spending capability
 Healthy construction supply chain
 Increase local spending
 Grow local income tax and business tax base
 Attract additional investment

21. CONTACT INFORMATION
Bob Reeder
Program Director
Rural LISC
1825 K Street NW
Suite 1100
Washington, DC 20006
(202) 739-0885
jreeder@lisc.org
www.lisc.org/rural