Affordable Housing Group Clusters Rehabbed Foreclosures in New Haven

Neighborhood Housing Services of New Haven is taking a “cluster” approach in the Newhallville section of New Haven, Conn., purchasing groups of homes in order to create islands of stability that it hopes will fuel an overall neighborhood revival. NHS has been a leader in home ownership education and foreclosure prevention for more than 30 years. The group has so far purchased 18 abandoned homes in order to provide affordable homes to local residents who meet income requirements and have a commitment to bringing back the Newhallville neighborhood, which has been hit hard by foreclosures. Investors have purchased many foreclosed homes and allowed them to further deteriorate.

SOURCE: The New York Times, 8/4/11

URL: http://www.nytimes.com/2011/08/07/realestate/saving-a-neighborhood-in-clusters-in-the-regionconnecticut.html