NEW ALBANY PARTNERSHIP TO IMPROVE HOME OWNERSHIP OPPORTUNITIES

Homeownership plays a vital role in building strong neighborhoods, improving city health, and providing long-term stability for growing families. That’s why Mayor Jeff Gahan and the New Albany Redevelopment Commission (NARC) are partnering with the Urban Studies Institute (USI) at the University of Louisville to improve housing accessibility and make long-term plans for the future of our River City.

“Over the past several years as our city continues to grow, many local developers have invested in apartments and rental units within the City of New Albany,” stated Mayor Jeff Gahan. “But now, it is time to focus on long-term home ownership for the people of New Albany, and provide new opportunities and pathways for first-time buyers and others to invest in a home. This partnership with the Urban Studies Institute is a great first step in planning for the future of housing in New Albany.”

USI will gather essential data and provide a comprehensive analysis of the City’s housing landscape that will help shed light on the current state of homeownership, provide an overview of the city’s rental market, and identify areas where the city can take action to improve homeownership opportunities.

The City’s partners at USI will begin the study immediately and results are expected back to the City by late September.