Housing GSO: HRA Greensboro Affordable Housing Plan

NEIGHBORHOOD SELECTION

What is neighborhood selection? A form of investment where cities make improvements in a targeted set of neighborhoods for a more visible impact.

Neighborhood reinvestment is a form of geographic targeting that allows cities to cluster their public investments in select neighborhoods for maximum impact. Its goal is to target public investments in areas with historic disinvestment and weaker housing markets in order to establish a healthy housing market.

INVESTMENT

MORE INVESTMENT

OVER INVESTMENT

Reinvestment

Redevelopment

Gentrification

Types of Public Involvement:

Types of Public Involvement: Limited enforcement of speculators Facilitation of high property value hikes without adequate tax relief Unchecked catalytic investments

Types of Public Involvement: Public land sales to master developers Strategic, careful location of catalytic investments

Rehabilitation programs Homebuyer Assistance

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Build on preexisting catalytic investments

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End Results:

End Results:

End Results:

• Longtime residents are more protected against displacement through rehab of substandard housing and additional support for affordable homeownership Neighborhoods are stabilized through coordinated private and public investment • Due to this coordination, reinvestment areas become self-sustaining markets •

Longtime residents are more protected against displacement through rehab of substandard housing and additional support for affordable homeownership Neighborhoods are stabilized primarily through public investment Areas may not become self-sustaining without ongoing investment

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Displacement of longtime residents

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• Neighborhoods do not become stabilized due to continuous affordability challenges • Strength of market is sustained by the by the inflation possible during economic upturns, making neighborhoods more vulnerable in times of recession

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HR&A Advisors, Inc.

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