Neighborhood Stabilization Program Overview
As part of the Housing and Economic Recovery Act, passed by Congress in July 2008, $3.92 billion in Neighborhood Stabilization Program (NSP) funding was provided to communities hardest hit by residential foreclosures and mortgage delinquencies. Louisville Metro received nearly $7 million in federal NSP funds and an additional $3 million in state NSP funds. NSP Funding is intended to stabilize neighborhoods. To do this, State and local governments must address foreclosed, vacant, or abandoned properties.

Louisville Metro has partnered with New Directions Housing Corporation to acquire and redevelop vacant residential properties in the Shelby Park Neighborhood.

Shelby Park Neighborhood

  • Shelby Park Neighborhood Association
  • 16 acre Shelby Park
  • Metro Council Representative: David W. Tandy, 4 th district
  • Less than two miles from Downtown, Highlands, University of Louisville
  • Borders the Historic Smoketown, Germantown, Old Louisville, and Schnitzelburg Neighborhoods
  • Access to TARC bus routes: #25,43,99,& 18

Homes for Sale
The first two houses on East Saint Catherine Street are expected to be built and ready for sale by April 2011. Each home will carry the Energy Star Qualified Home label and have the following features:

  • Three bedrooms
  • Two full bathrooms
  • Hardwood flooring throughout first floor
  • Brick and Hardiplank exterior
  • 1300-1500 sq ft.
  • First floor master bedroom
  • Energy Star features throughout
  • Privacy fencing
  • Rear concrete Patio
  • Warranty

Homebuyer Eligibility
Eligible families can earn up to 120 percent of area median income (AMI), which is based on family size.

Family Size

1

2

3

4

5

6

Max Income

$51,900

$59,350

$66,750

$74,150

$80,100

$86,050

  • Homebuyer must receive at least 8 hours of homebuyer counseling from a HUD-approved Homebuyer Counseling Agency

Builder
Tawana Hughes
Tawana Hughes Builder, LLC
P.O. Box 58574
Louisville , KY 40268
Office: 502-614-7562
thughesbldr@insightbb.com
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Listing Agent
To find out more and to see if you or someone you know is eligible, contact one of our realtor specialists:

Paul Kiger
RE/MAX Advantage
502-314-6748
Paulkigerhomes@gmail.com

  

Follow the Construction blog:
www.shelbyparknsp.blogspot.com
New Directions Housing Corporation provides assistance without regard to race, color, religion, sex, national origin, handicap, or familial status.