New Report Offers Lessons and Insights for Vacant Property Revitalization
In the wake of a major housing crisis and rising foreclosure rates, American cities and towns are experiencing a glut of vacant properties. Once a sign of urban blight, empty lots and abandoned buildings now mark the landscape of neighborhoods in rural and suburban areas as well, negatively impacting housing values, tax revenues, crime rates, and more. The sheer scale of the issue has helped bring national attention to the challenges these properties present, and the need for new solutions to blight and disinvestment.
On Friday, the Center for Community Progress released Restoring Properties, Rebuilding Communities: Transforming Vacant Properties in Today’s America. The report, completed with writing and research help from Smart Growth America, offers a systemic look at the legacy of vacant properties in many of our older towns and cities, as well as new vacancy trends, and some of the innovative initiatives that have been implemented to address these trends.