In response to Mayor Peyton's charge to eliminate substandard housing by 2020, the city's Housing and Neighborhoods Department, either directly or through supporting outside agencies, has:

• Provided rehab work on 1,432 homes
• Assisted 339 people in buying homes
• Provided homebuyer counseling for 1,529 people
• Supported construction on 65 homes

This represents a combined $35.6 million investment in increasing low- to moderate-income housing and homeownership in Jacksonville since 2003. 

Financing
In the past three years, the Housing and Neighborhoods Department has supported the Jacksonville Housing Finance Authority in issuing $67 million in bonds to providers of affordable multifamily properties, producing 1,346 units.

Additionally, in 2004, the Housing and Neighborhoods Department committed $1.5 million over three years to the Local Initiatives Support Coalition (LISC).  This funding supports LISC's activities to develop neighborhoods through building or rehabilitating single family homes, acquiring and developing affordable rental housing and renovating commercial space. 

Increasing homeownership and homeowner investment
Housing and Neighborhoods offers down payment assistance (up to $14,999) to homebuyers across the city. As part of the mayor's neighborhood-strengthening initiative, Seeds of Change, the department is offering up to $5,000 for repair/rehab assistance in targeted neighborhoods.  The Housing Commission Board recently approved $5 million for improvements to 400 homes.  That is more than twice the number of homes served last year and the additional funding is helping make more homes safer and ultimately building stronger communities. 

In October 2006, Housing and Neighborhoods began issuing Single Family Mortgage Revenue Bonds. The proceeds of the bonds will provide low-interest mortgage financing and down payment assistance to eligible homebuyers and  financial assistance to moderate-income workers purchasing homes in Duval County.

Downtown Revitalization
Housing
Under Mayor Peyton's leadership, downtown Jacksonville has seen significant growth. As of December 2006, there were 1,690 residential units available, 933 under construction and 6,000 proposed for approval by the Design Review Committee. 

Business
The JEDC and the City Council have approved a number of commercial projects that will soon be developing downtown, including Macquarie Mortgages USA, which will relocate its U.S. headquarters from Memphis and employ 50 people in the Downtown Enterprise Zone.  In addition, Fidelity National Financial committed to its second major investment in the community, which will add 800 new jobs and $23 million in private capital investment. 

Growth in surrounding areas
Public and private development projects are leading the way in the development of Brooklyn – a suburb of downtown.  Miles Development Partners and Hallmark Partners recently announced mixed-use projects offering retail and office space and up to 1,500 residential units.

This will build on the mayor's vision for Brooklyn as the bridge between the downtown business district and Riverside's residential and retail district. The city will complement this redevelopment by creating a new Brooklyn Central Park and a reclaimed McCoy's Creek greenway including bike and pedestrian pathways that link Brooklyn to the Northbank Riverwalk.