Housing & Community Development

Even just a few abandoned buildings can spur a spiral of decline and disinvestment that spreads well beyond the block where the vacant building sits. By facilitating the acquisition and redevelopment of blighted, abandoned residential and commercial properties that plague neighborhoods, community developers can help to reverse the cycle of decline experienced by many core urban neighborhoods in the past few decades.

Thankfully, reinvestment – as well as abandonment – is contagious.

Redeveloping blighted properties preserves our existing investments by supporting the communities in which we already live – once vibrant places that have been allowed to disintegrate through haphazard development practices. By revitalizing vacant lots and abandoned buildings as a part of a larger strategy, we can create desirable mixed-use neighborhoods close to transportation and job centers, while providing affordable opportunities to first-time homebuyers and renters. A dedicated development team can attract new businesses to struggling commercial strips, and help increase the values of properties for existing owners nearby. To encourage redevelopment of vacant, older buildings, zoning and rehabilitation codes must allow for this type of redevelopment 

America's stock of existing buildings—both residential and nonresidential—continues to age. This stock represents a vital national asset that can be used to meet the rising demand for housing and commercial development, consistent with state and local efforts to wisely manage continued growth.