U.S. National Housing Institute, 2008. This publication offers CDCs, local officials, and other stakeholders, including local institutional, business, and community leaders, a new way to look at how they can manage neighborhood change in order to bring about sustainable and equitable revitalization. It is based on a simple idea: The most powerful lever for neighborhood change is change in the demand for housing in the neighborhood. Change in the residential real estate market can lead to a stronger, healthier neighborhood. At the same time, market change can take problematic forms, leading to undesirable outcomes. It can be driven by speculation, triggering little or no improvement in the community’s quality of life, or it can disrupt established communities, displacing long-time low- and moderate-income residents.
Higher house prices without improvement to neighborhood vitality and quality of life is neither
positive nor sustainable, while change that leads to displacement of an area’s lower-income residents is not equitable. This proposition defines the central question for all those struggling with the task of revitalizing urban neighborhoods: how to build both a stronger housing market and a healthier neighborhood while ensuring that the community’s lower-income residents benefit from the neighborhood’s revitalization?
neighbourhoodchangebeta 