Charles NoonanPresident, Landbank University · Real Estate Developer & Instructor

HOW GENTRIFICATION ACTUALLY HAPPENS 😳#birmingham #entrepreneur #realestate #realestateinvestor

5 Dec 2024 · 1 min

Watch on YouTube

1:00

A YouTube video by Charles Noonan explaining how federal HUD funds flow to cities with distressed properties, focusing on Birmingham, Alabama receiving $20 million for distressed properties and vacant land as part of a larger $7.7 billion federal cash infusion to Alabama about two years prior. The speaker identifies as a city-designated developer in Birmingham and describes building multiple houses there (on his fourth, recently completed a 1,300 sq ft house).

Questions this video answers

$20 million

$7.7 billion, received about two years ago

Four (on his fourth house)

1,300 square feet

Chapters

The city of Birmingham was awarded $20 million for their distressed properties and their vacant land. The worst cities in the country that perform the worst, that have issues with low income housing, homelessness, they get to ask the federal government for money because of the issue that their city is in. So they asked the federal government and HUD for help. HUD gives them money. Alabama got $7.7 billion two years ago as a cash infusion. Infusion into their, into their city, states and city and the state and for their communities. The article that we just saw showed that 20 million of that went into the distressed properties and the, and the vacant land in Birmingham, Alabama. A lot of money. First, I'm a designated developer with the city of Birmingham. Right? They're paying developers to go in and build there. Yeah, I built four. I'm on my fourth house, but I just recently built a 1300 square foot house. 3.