West Palm Beach, FL, (Aug. 30, 2021) – Neighborhood Renaissance today announced it received a $20,000 grant from Truist Foundation to support Coleman Park’s rebirth through a sustained effort over the next three years to transform the neighborhood’s corridor into a mix of affordable rentals and minority-owned businesses while making homeownership possible for neighborhood residents.
According to Terri Murray, Neighborhood Renaissance executive director, “Our approach is comprehensive and resident driven, which brings economic opportunity and sustainable change by helping Coleman Park residents to reach their full potential.”
The Colman Park revitalization includes the transformation of four vacant blighted parcels along N. Tamarind Ave. into 42 quality affordable rental apartments and new commercial space for minority small businesses. In addition, the concentrated effort of the Lincoln Road Model Block will eliminate blight, increase homeownership and investment and improve housing conditions through new home construction on 6-7 vacant lots, rehabilitation of 4-5 existing homes and street beautification. To ensure that residents reap the benefits, Neighborhood Renaissance equips them with the confidence and skills needed for a path of lifelong learning by fostering positive behaviors like establishing a bank account, increasing savings, managing debt and cash flow.
“Truist’s partnership with Neighborhood Renaissance exemplifies our purpose to inspire and build better lives and communities,” said Tony Coley, Truist regional president for South Florida, on behalf of the Truist Foundation. “I look forward to seeing this transformation and continuing our support for affordable housing and minority-owned businesses here in South Florida.”
About Neighborhood Renaissance, Inc.
Founded in 1992, Neighborhood Renaissance is dedicated to building and supporting strong economies and diverse communities by investing in homes that are within the financial reach of low- and moderate-income households. We work in partnership to reclaim troubled properties and improve neighborhoods while helping minority and low-income families to prosper. Our efforts have helped over 200 households to become homeowners and we developed over 250 homes. In the past 8 years, our efforts targeted over $46 million of reinvestment into minority and low-income communities. www.neighborhoodrenaissance.org
About Truist Foundation
The Truist Foundation is committed to Truist Financial Corporation’s (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. The Truist Foundation’s grants and activities focus on leadership development, economic mobility, thriving communities and educational equity. Learn more at Truist.com/Purpose/Truist-Foundation.
Terri Murray, Neighborhood Renaissance
Audria Belton, Truist