Group items tagged

Adams, D., De Sousa, C. and S. Tiesdell. 2010. "Brownfield Development: A Comparison of North American and British Approaches." Urban Studies 47(1): 75-104. "Over the past 30-40 years, urban change and deindustrialisation in advanced economies have created a legacy of vacant and derelict land that is increasingly seen as a development opportunity rather than planning problem. This paper investigates how the shared challenge of bringing such brownfield sites back into productive use has been interpreted differently in four countries: the US, Canada, Scotland and England. In each case, the particular policy environment has shaped the brownfield debate in distinctive ways, producing a different set of relations between the public and private sectors in brownfield redevelopment. Through this detailed comparison of the North American and British experience, the paper traces the maturity of policy and seeks to discover whether the main differences in understanding and tackling brownfield land can be attributed primarily to physical, cultural or institutional factors."

Mallach, Alan. "Meeting the Challenge of Distressed Property Investors in America's Neighborhoods." 1- 91. New York, NY: LISC, 2010. Introduction: "The mortgage crisis that has gripped the United States since 2007 has resulted in property owners losing millions of properties through foreclosure, with a loss of hundreds of billions of dollars in individual and community assets. Through the foreclosure process, the majority of these properties have been taken back by the mortgage lender and become 'real-estate-owned' or REO properties. For the first year or so after foreclosures took off in 2007, with lenders unprepared to deal with these properties and few buyers of any sort in the marketplace, REO properties often went begging. By the end of 2008, however, that was no longer the case. Private property investors - from "mom & pop" investors buying one or two properties to Wall Street firms and consortia of foreign investors buying entire portfolios - had moved back into the market in large numbers. Since early 2009, the ranks of investors have steadily grown, while it has become less accurate to refer to them as 'REO investors'. Rather than waiting for properties to come into lenders' REO inventories, distressed property investors - as they are more appropriately known - have been increasingly buying houses through short sales, buying non-performing mortgages, or bidding against foreclosing lenders at foreclosure sales. Today, their presence is a major factor in the marketplace of nearly every metropolitan area experiencing large numbers of foreclosures. Their activities are having a powerful effect on neighborhoods generally and on the neighborhood stabilization efforts of cities and non-profit community development corporations (CDCs) in particular. Their effect, however, is a matter of considerable disagreement and even controversy. The purpose of this report is twofold: first, to offer insight into how distressed property investors operate, and how their activ