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3) strengthen the desirability of the community and neighborhood retail corridors
as a shopping destination for local residents, and
4) help move families from public assistance to jobs paying a living wage and
ultimately resulting in homeownership.
Accordingly, this plan establishes the following mutually supportive economic
development goals for the proposed Southeast Community NRSA:
1) Increase the community’s homeownership rate while promoting income
diversity,
2) Enhance the appearance and amenities of the area’s rental communities,
3) Improve the appearance and appeal of the community and neighborhood
commercial/retail corridors while facilitating entrepreneurial opportunities, and
4) Upgrade the employment opportunities for residents through the generation of
new job opportunities as part of the commercial corridor revitalization and in
identified redevelopment areas.
Increasing and diversifying the community’s homeownership rate
The proposed Southeast Community NRSA contains one of the lowest
homeownership rates in Newport News. Whereas 52% of housing units throughout
Newport News are owner-occupied based on the 2000 census, approximately 32% of the
housing units in the Southeast Community NRSA are owner-occupied. Homeownership
is generally recognized as a highly desirable goal in urban neighborhoods such as
Southeast Community since homeowners tend to take better care of their property than
do tenants and have a long-term commitment to the community partially attributable to a
concern over property values. Furthermore, homeowner equity represents the primary
financial resource for many families which enables the utilization of home equity loans for
property improvements and educational opportunities. NNRHA plans to further strengthen
the equity position of homeowners in the Southeast Community through the development
and renovation of attractive homes with high curb appeal marketed to low and middle
income families. This approach will help to ensure the long-term viability of the
community’s residential real estate market.
Enhancing the appearance and amenities of the area’s rental communities
As presented in Table IV of Section D, the proposed NRSA contains a number of
rental communities, both privately and publicly owned, dating to the World War II and
Korean War eras. Although NNRHA has invested considerable resources over the last
several decades to maintain the older public housing developments in the community,
three of these developments – Orcutt Homes, Harbor Homes, and Dickerson Courts –
require an approach which will substantially transform these rental communities into true
assets complementing the surrounding neighborhood. NNRHA has initiated the
redevelopment of Orcutt Homes as envisioned in the initial NRSA plan. In SeptemberJump to an indexed page (228 of 228)