Removing Blight in Vollintine-Evergreen Through ICED Loan
An abandoned and blighted retail strip in the Vollintine-Evergreen neighborhood may soon have a new life. The 75-year-old building has sat vacant and vandalized for years.
Today, the Finance Committee awarded a $25,000 Inner City Economic Development Loan to Timothy Hubbard to revive that strip with a new Laundromat for the area. Hubbard is the founder and CEO of Midtown Stays, a short-term rental accommodation company.
The loan will help Hubbard completely renovate the building. The project will create three new jobs and invest $643,000 in the location. The renovation will also lead to three additional units that could be ideal for a salon, restaurant or events space.
“We believe this project will bring value to the community and make a positive impact on the neighborhood,” said Lilly R. Gilkey, President of Vollintine Evergreen Community Association. “The renovation will take what was once an eye sore and clean up the property creating a space for new businesses to offer value to the area and liven up the neighborhood.”