district
3
• SOUTHSIDE - SOUTH HILLS
• SOUTHSIDE FLATS
• SOUTHSIDE WORKS
• BELTHOOVER - BON AIR
• KNOXVILLE - SOUTH OAKLAND
Ranked 8th
in total private and public funding
Councilman
BRUCE KRAUS
District 3 includes a number of South Side and South Hills communities, including the three minority communities in this district, Beltzhoover, Bon Air, and Knoxville, as well as South Oakland across the Mon River. During the period 2007 and 2019, just over $870 million was approved in District 3, 7.4% of the citywide total loan dollar volume for this period.
It should be no surprise that the South Side Flats’ vibrant business district and rapidly gentrifying housing saw more than 2,500 loans for half-a-billion dollars between 2007 and 2020. In contrast, lending to the Flats was more than double the combined total of loans and loan dollars in Beltzhoover, Bon Air, and Knoxville (824 loans for $45.6 million).
Table 10H. Total Public and Private Investment in District 3. Councilman Bruce Kraus
Neighborhood
PHFA
HACP
URA
Total Public $
Total Private $
Total Public and Private $
$113,843,560
$532,039,000
$645,882,560
South Side Flats
$18,500,000
$254,460
$95,089,100
South Side Slopes
$0
$0
$250,001
$250,001
$178,558,000
$178,808,001
$13,438,720
$79,955,000
$93,393,720
South Oakland
$0
$137,000
$13,301,720
Allentown
$0
$9,429,642
$105,001
$9,534,643
$25,115,000
$34,649,643
$135,001
$28,993,000
$29,128,001
$135,001
$0
$0
Beltzhoover & Bon Air
Knoxville
$0
$0
$1,225,001
$1,225,001
$16,703,000
$17,928,001
$187,666
$13,089,000
$13,276,666
Arlington*
$0
$184,416
$3,250
Mt. Oliver**
$0
$0
$25,000
$25,000
$4,264,000
$4,289,000
$318,000
$318,000
Arlington Heights*
$0
$318,000
$0
St. Clair**
$0
$14,000
$0
$14,000
$14,000
Totals
$18,500,000
$110,134,074
$10,337,518
$138,971,592
$878,716,000
$1,017,687,592
Minority Community Totals
$3,136,801
$55,636,000
$127,489,545
Grey shaded areas are minority
Notes: *Bank lending to Arlington includes Arlington & Arlington Heights; **Bank lending to Mt. Oliver also includes St. Clair.
District 3 ranked fifth in total public funds of $138,971,592. Most of the funding came from the URA, with only $18.5 million allocated by the PHFA. But combined, District 3 was next-to-last in total public and private investment of $1 billion, of which 86.3% came from private bank investment. Bank financing of $45.6 million in District 3’s minority neighborhoods was massively larger than public funding of $1.3 million.