St. Pats Neighborhood Association

Shot Down! by M. Baker

Oct 08, 2003

The plan by the owners of Evergreen Terrace to refinance under the Mark to Market program was denied on September 16th, by the nations housing secretary, Mel Martinez. The owners had hoped to refinance four of the seven buildings in the complex. The refinancing also included a federal rent subsidy of $497 per unit.

For years, the city, the neighbors, and the tenants of Evergreen Terrace have complained about the living conditions and high crime rate at the complex. The term of the new mortgage would have been 30 years. The city and neighborhood groups worked hard to illustrate to HUD how deplorable the conditions at this complex have become. The Management Company continually failed to keep the property up to minimal standards.

This development should force Evergreen Terrace?’s owners to work with the city on a redevelopment plan. The city hopes for lower density, mixed income housing on the development. Everyone has a basic right to a clean and safe living environment. This was not being accomplished in the Evergreen Terrace complex.

A big ?“Thank You?” goes out to all those who worked hard to bring this matter to HUD?’s attention.