Neighborhood Stabilization (NSP2)
SHA has partnered with the City of Sarasota and Sarasota County through the Office of Housing & Community Development (OHCD) to utilize a HUD stimulus grant program to acquire forclosed property and either rehab or redevelop the property in order to stabilize the neighborhood and also to house low-income families.
SHA has aquired and rehabbed twelve single family homes (pictured below) and have rented them to very low income families.
SHA's not-for-profit, the Sarasota Housing Finance Corp, has acquired two multifamily properties and is either rehabbing or redeveloping them in order to remove blight and provide affordable rental housing. When completed in late 2012, the property located at 251 N. Tuttle Ave., will house fifteen low income families. The second property, located at 1720 Dr. Martin Luther King, Jr. Way included the demolition of 64 former severely blighted, drug ridden units and new construction is currently underway that will provide 28 brownstone style apartments at the corner or Maple Ave and Dr. Martin Luther King, Jr. Way.