Memphis will get $30 million in federal funding to redevelop Foote Homes, the last housing project in the city.
Memphis was selected as one of nine finalists for the funding in July. The money comes from U.S. Department of Housing and Urban Development through President Barack Obama’s Choice Neighborhood competition.
Congressman Steve Cohen announced the award Sunday and said the money "will help revitalize our city and position us for success."
"This infusion of government funds will stimulate additional private investment, a synergy which will prove even more beneficial for Memphis," Cohen said in a statement.