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Metropolitan Institute

"Meeting the Challenge of Distressed Property Investors in America's Neighborhoods."_Ma... - 0 views

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    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
Metropolitan Institute

"Neighborhoods in the Wake of the Debacle: Intrametropolitan Patterns of Foreclosed Pro... - 1 views

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    Immergluck, Dan. "Neighborhood in the Wake of the Debacle: Intrametropolitan Patterns of Foreclosed Properties." Urban Affairs Review 46,1 (2010): 3-36. A key aspect of the U.S. subprime crisis was the accumulation of vacant, foreclosed properties in many neighborhoods and localities. This article describes zip-code-level patterns of foreclosed homes, or what are typically called "real estate owned" (REO) properties, at the peak of the subprime crisis in late 2008 and estimates a model of REO accumulation from 2006 to 2008. Three key findings emerge. First, during the peak of the subprime foreclosure crisis in late 2008, large central cities, on average, experienced higher levels of REO per mortgageable property than suburban areas. This contradicts some suggestions that the crisis was primarily centered in suburban or exurban communities. Second, the suburbanization of REO varied across two key types of metropolitan areas, with boom-bust regions experiencing more suburbanization than weak- or mixed-market metros. Finally, determinants of zip-code-level REO accumulation included high-risk lending activity and the age of housing stock. After controlling for these and other variables, neither the central city versus suburban location of a zip code nor the proportion of residents commuting over 30 minutes was significantly associated with REO growth. The intrametropolitan location of a zip code appears to have been a less important factor in REO growth than the fact that a large amount of development in newer communities was financed during the subprime boom.
Metropolitan Institute

Unearthing the benefits of brownfield to green space projects: An examination of projec... - 2 views

Abstract: "The redevelopment of brownfields and the creation of green space in cities are two initiatives that are gaining support in the US, for they are perceived to be important elements for fos...

Chicago quality of life urban revitalization sustainable development green space property values survey federal policy Minneapolis brownfield redevelopment C. DeSousa 2006

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

"The Southeast Land Bank."_Gasser [journal article] - 0 views

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    Gasser, W. (1979). "The Southeast Land Bank." Journal of the American Planning Association. 45 (4), 532-537. Abstract: "The Southeast Land Bank of Baltimore is a community-controlled urban redevelopment corporation created to act as a holding company and broker for recycling neighborhood property. Three approaches were used to protect Upper Fell's Point from speculative pressures and neighborhood blight caused by a proposed road realignment. The Land Bank engaged in acquisition, holding, rehabilitation advice, and marketing of vacant houses in good condition, vacant and dilapidated houses, and absentee-owner, occupied houses that needed complete renovation. Despite the administrative and financial difficulties the Bank faced in its first eighteen months of operation, its experience provides valuable lessons for other community organizations interested in taking an active role in their neighborhoods' revitalization."
Metropolitan Institute

"Community Gardens as New Forms of Public Space." _Langegger [conference paper] - 0 views

Langegger, Sig. "Community Gardens as New Forms of Public Space." Paper to be presented at the annual conference for the Association of Collegiate Schools of Planning, Salt Lake City, Utah, Octob...

community gardens public spaces urban planning Denver CO case studies

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

From Brown Liability to Green Opportunity: Reinventing Urban Landscapes - 2 views

Abstract: "Whether they are growing, shrinking, or just standing their ground, cities throughout the United States are looking for ways to reinvent and reinvigorate their urban landscapes. More and...

urban landscapes sustainability deindustrialization greening brownfields stakeholder involvement partnerships C. DeSousa 2010

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

"Save that House! An Examination of Demolition Ordinance." _Many Authors [conference pa... - 0 views

Nasar, Jack, Victoria Morckel, and Jennifer Cowley.  “Save that House! An Examination of Demolition Ordinance.”  Paper to be presented at the annual conference for the Assoc...

housing demolition ordinances case studies survey demolitions tax

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
Metropolitan Institute

"Activist Literacy in Shrinking Cities: Lessons for Urban Education."_Hollander & Holla... - 0 views

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    Hollander, Pamela W. and Hollander, Justin B. (2008) "Activist Literacy in Shrinking Cities: Lessons for Urban Education," Language Arts Journal of Michigan: Vol. 24: Iss. 1, Article 9. Available at: http://scholarworks.gvsu.edu/lajm/vol24/iss1/9
Metropolitan Institute

House by House, Block by Block: The Rebirth of America's Urban Neighborhoods - 2 views

The book describes the history and role of local community organizations in revitalizing distressed neighborhoods in major cities around the United States. Hoffman, Alexander von. House by House, ...

collaboration Boston MA New York California Chicago IL Los Angeles community development corporations local activism Atlanta GA Alexander von Hoffmann 2003

started by Metropolitan Institute on 04 Jan 12 no follow-up yet
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