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Summary of SWOT Analysis and Community Assessment
The SWOT analysis, coupled with the demographic profile of the neighborhood,
indicate that there are several weaknesses and threats facing the proposed NRSA
including a somewhat negative perception of community safety and available retail
shopping/services. Nevertheless, there are several opportunities for resident and
neighborhood development that will result in the continued revitalization of the Southeast
Community. An expansion of housing opportunities, emphasizing homeownership for low
and middle-income families along with improved rental units for modest income families,
will create a diverse mix of residents thereby stabilizing and strengthening the
community’s residential real estate market. In fact, income diversity is becoming a feature
of the Madison Heights neighborhood as envisioned in the initial NRSA. A continued
focused effort under a revised and update NRSA will continue to improve the
neighborhood and community retail/commercial corridors. Furthermore, the continued
focused effort will ultimately provide a myriad of opportunities for residents to spend their
disposable income within the neighborhood for services which are increasingly purchased
outside of the area, thereby reinvesting in the neighborhood and community.
E. Economic Empowerment
The development strategy for the initial Southeast Community Neighborhood
Revitalization Strategy Area (NRSA) (as well as the updated and revised plan) is designed
to promote the community’s economic progress while building on the area’s existing and
proposed assets. The development strategy and implementation plan to promote
economic progress is based on utilizing the ongoing programs described in the
“Assessment” portion of this plan (Section D) with expanded initiatives to:
1) enable potential homeowners to purchase new homes and newly renovated
homes to generate residential stability and financial equity,
2) facilitate the renovation or redevelopment of rental communities to provide
positive residential environments for modest income families,
3) link potential entrepreneurs with retail opportunities in the community and
neighborhood retail corridors, and
4) connect unemployed residents with employment opportunities.
It is anticipated this development strategy will:
1) create a strong residential real estate market while generating a mixed- income
housing environment which attracts value-oriented middle-income families who
might otherwise buy in newly developed suburban areas,
2) provide rental communities which serve as positive community assets,Jump to an indexed page (228 of 228)