BESSEMER, AL / ACCESSWIRE / June 12, 2024 / Regions Bank:
Bessemer Redevelopment Corporation joins the Regions Foundation and additional community partners to unveil a major milestone in bringing new investments to the city.
The Bessemer Redevelopment Corporation and the Regions Foundation on Wednesday joined community partners to celebrate the completion of three modern homes that represent a series of new investments in Bessemer's Northside neighborhood.
The prefabricated homes along the 2600-block of 6th Avenue North are part of the Northside Community Housing Development Initiative. The initiative was created by the nonprofit Bessemer Redevelopment Corporation as a crucial component of its long-term work to bring new investments and modern, affordable housing to the neighborhood stretching between downtown Bessemer and nearby Brighton and Lipscomb.
The redevelopment of the Northside community of Bessemer has been a massive team effort that began four years ago. We could not have done it without the support of the Regions Foundation and others.
Brian Giattina, president of the Bessemer Redevelopment Corporation
For years, Northside was challenged by disinvestment, abandoned homes, empty lots, and more. But that trend is being reversed with the Bessemer Redevelopment Corporation organizing perhaps the largest effort in generations to bring new resources back to the community. In addition to the Regions Foundation, community partners include Deer Valley Homebuilders, Inc., the Housing Affordability Trust, United Bank, the Alabama Power Foundation, the Navigate and Navigate Gives Back organizations and the Goodrich Foundation.
"The redevelopment of the Northside community of Bessemer has been a massive team effort that began four years ago," said Brian Giattina, president of the Bessemer Redevelopment Corporation Board of Directors. "We could not have done it without the support of the Regions Foundation and others. It took a team that could trust the Bessemer Redevelopment Corporation and see our long-term vision for Bessemer. Our community partnership with the Regions Foundation is a critical element to our future success. BRC believes the organizations and individuals investing in BRC will see returns for many years. The development of these first three houses is the beginning, not the end, of the redevelopment of the Northside community."
Construction of the three houses was financed in part by a $150,000 grant from the Regions Foundation, which works to advance economic and community development initiatives across metro Birmingham and beyond. The Regions Foundation is a nonprofit that is funded primarily by Regions Bank.
Today's milestone is not only about celebrating new homes - it's about recognizing how the Bessemer Redevelopment Corporation has a long-term commitment toward investing in this community.
Marta Self, executive director of the Regions Foundation
"Today's milestone is not only about celebrating new homes - it's about recognizing how the Bessemer Redevelopment Corporation has a long-term commitment toward investing in this community," said Marta Self, executive director of the Regions Foundation. "These investments are providing affordable housing for more families while bringing new vitality to the Northside neighborhood. The Regions Foundation is proud to support this work because we see the results that are being created, one block at a time."
The focus of the Bessemer Redevelopment Corporation goes beyond high-quality housing to include investments in public spaces, sidewalks, streetlights and other community assets. The organization also seeks to support commercial development and community neighborhood anchor projects to complement the new housing that is replacing vacant Northside lots.
Prospective homebuyers have two key options to explore securing a new Northside home:
- Those seeking down-payment assistance from the Bessemer Redevelopment Corporation can apply via Neighborhood Housing Services of Birmingham.
- Qualifying clients complete a homebuying education course with tailored advice and guidance designed to help ensure the client is financially prepared for homeownership.
- Following successful completion of the course, the client becomes eligible to purchase a home through the Bessemer Redevelopment Corporation's down-payment assistance program.
- Clients not seeking down-payment assistance may contact a lender of their choice to prequalify for financing.
- Once prequalified, the client can work with the Bessemer Redevelopment Corporation's real estate partner, Barnes and Associates, to explore available options.
- Homes are available on a first-come, first-served basis for those who have prequalified.
About Bessemer Redevelopment Corporation
Bessemer Redevelopment Corporation's core value is that WE have a responsibility to improve the quality of life of our employees and our neighbors. They saw the Northside community, the neighborhood just outside the front gates of BLOX, struggling with vacant and blighted housing, poverty, unemployment, food insecurity, and other critical issues.
In 2020, Brian Giattina began to talk to people across the Bessemer community about starting a development organization to lead the effort to revitalize Bessemer. He formed Bessemer Redevelopment Corporation, a 501c3, in August 2020 with a Board that represents individuals born and raised in Bessemer and others who bring housing expertise to the table.
About Regions Foundation
Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.
State Senator Merika Coleman, left, and State Representative Ontario Tillman, right, participate in the dedication of new
affordable housing along 6th Avenue North in Bessemer.
View additional multimedia and more ESG storytelling from Regions Bank on 3blmedia.com.
Contact Info:
Spokesperson: Regions Bank
Website: https://www.3blmedia.com/profiles/regions-bank
Email: info@3blmedia.com
SOURCE: Regions Bank
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