Empire State Future

Capital Region housing developers finding opportunity in infill housing: “We are not afraid anymore”

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Cross-posted from our coalition member Empire State Future.

Throughout New York State demand for downtown living continues to expand as baby boomers are ditching the cul-de-sac and generation X and Y are re-envisioning their American Dream. The change in consumer preference has already driven a million people to the “City that Never Sleeps”, New York City, since 1990, with another million New Yorkers expected by 2035. As people continue to find the value and livability of urban living in New York City and many of New York State’s 61 smaller cities, reuse of existing commercial and industrial structures as well as infill development on abandoned and vacant lots will play a role in serving the increasing demand for residential units.

As each state-commissioned Regional Economic Development Council releases their strategic plans, major calls for smart growth are materializing. This is advantageous for numerous developers who have already made the transition to building residential properties in existing downtowns and on or near main streets. Over the next few weeks ESF is going to highlight a few of these projects from across the state to show what New York’s cities will have to offer in the years to come.

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Pending legislation in New York could help reclaim vacant properties and revitalize neighborhoods

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Across the country, communities fighting to stay one step ahead of the foreclosure crisis are struggling with abandoned and vacant properties that lower surrounding property values, cut into local tax revenues, attract crime, and perpetuate a cycle of disinvestment. New York State is one of the places this battle is being waged, and Smart Growth America along with our coalition partner Empire State Future have been working to support a bill that could help.

New Yorkers! Tell the New York State Legislature to support the Land Bank Act: speak out today.

New York’s Land Bank Act (A00373, S663) would give New York jurisdictions the option to create a local entity to hold and manage problem properties and return them to productive use. In doing so the Act would bolster local economies and increase the safety, health, and vitality of struggling neighborhoods. In addition to these benefits, the bill is also revenue neutral and would achieve its aims without any added burden on New York taxpayers.

A recent op-ed in the Times Union by Empire State Future explains the benefits of creating land banks:

Land banks are able to acquire property, clear titles and dispose of land so the parcels again generate tax revenue. The best national example is the Genesee County Land Bank in Flint, Mich., a city of 102,000 people, down from 190,000 in 1960. This organization, formed in 2002, has developed innovative programs to facilitate the reuse of more than 4,000 formerly vacant and abandoned properties including side-lot transfer (more than 200 parcels), community gardens, housing rehabilitation and foreclosure avoidance (serving more than 1,300 families). Since its inception, this land bank has helped real property values in Flint to increase by more than $100 million.

The Land Bank Act could help make New York’s cities and towns more attractive for workers and businesses, and provide them with walkable communities close to shops, services and low-cost transportation choices. Land banks have been proven effective in other states and cities and have helped to revitalize many communities. New York today has towns, cities and counties that could turn their distressed spaces into valuable assets, but they need the power to do so.

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