Realignment of housing programs

Housing programs of revitalization groups need to be oriented around serving a neighborhood (even if the organization also operates on a regional-scale, production-oriented programs as well). This may mean that:

• Real estate development programs need to take on riskier and tougher projects to benefit the neighborhood, instead of an easier deal somewhere else. Project sizes may be smaller and more projects might be mixed income. In some neighborhoods the organization may realize that production of additional housing is not a solution at all.
• Homeownership education and lending programs need to focus more on marketing a particular neighborhood. Kiosks, presentations and materials will describe neighborhood amenities and advantages. Loan products may be tweaked to encourage investment in particular neighborhoods. These programs might also decide to intensify the marketing of their services to existing neighborhood residents.
• During the initial period of stabilization work, foreclosure prevention and stabilization programs will comprise a larger proportion of the organization’s overall housing activity and staff time – and then these activities will need to be supplanted with revitalization-focused activities.