SalemNews.com, Salem, MA

February 5, 2014

Boston Fed president visits Salem's Point neighborhood

BY TOM DALTON
STAFF WRITER

---- — SALEM — Mayor Kim Driscoll led a tour of The Point neighborhood yesterday with an unusual guest: Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston.

The tour took place just days after the Federal Reserve awarded Salem a $100,000 Working Cities Challenge grant to help stimulate economic development and other activity in the low-income, largely Latino neighborhood on the edge of the downtown.

“We’re very excited for Salem,” Rosengren said during a roundtable meeting yesterday morning at the Lafayette Street headquarters of the North Shore Community Development Coalition. “There are a lot of good things going on in the city.”

Salem is one of six communities awarded a total of $1.8 million in revitalization grants from The Fed.

Salem recently adopted a “vision plan” for The Point, and plans to use the money on some of those initiatives. Driscoll, who recently named a Latino affairs coordinator, has made The Point a priority.

“This neighborhood is so close to the downtown and waterfront ... yet it’s not a place, to be honest, everybody would choose to live, and we have to change that dynamic,” she said yesterday.

The brief walking tour ended at 135 Lafayette St., a new apartment building constructed on the site of the former St. Joseph Church.

Tom Dalton can be reached at tdalton@salemnews.com.