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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

Wiechmann, Thorsten (2008). Errors Expected - Aligning Urban Strategy with Demographic Uncertainty in Shrinking Cities. International Planning Studies, 13(4), 431-446. Abstract: "At the beginning of the 21st century, the majority of Europe's cities experienced a population decrease. Dealing with the results of demographic, economic and physical contraction processes and planning for the future of considerably smaller but nevertheless livable cities presents some of the most challenging tasks for urban Europe in the near future. This article highlights the example of Dresden in Eastern Germany, where the breakdown of the state-directed economy caused economic decline, industrial regression, and high unemployment rates. Due to out migration and decreasing birth rates, the city lost 60,000 of its 500,000 residents within one decade. As a consequence, there were housing and office vacancies as well as infrastructure oversupplies. Yet the administrative system was still directed towards growth objectives throughout the 1990s. Only after 2000 this situation changed dramatically. The new strategic plan for Dresden is no longer growth oriented. Instead, it focuses on a model of the compact 'European city', with an attractive urban centre, reduced land consumption, and a stable population. However, in another unexpected turn of events, within the last seven years the city has experienced an unexpected growth of 25,000 residents. Surprisingly, processes of suburbanization have turned into processes of reurbanization. Today in Dresden, areas of shrinkage and decline are in close proximity to prospering and wealthy communities. The strategic challenge is to deal with this patchwork while accepting that the future remains unpredictable. Hence, strategic flexibility becomes more important than the strategy itself. To a certain extent rational analysis and error prevention is displaced by preparedness, robustness, and resilience as key qualifications of planning in shrinking c

Bontje, M. (2004). "Facing the challenge of shrinking cities in East Germany: The case of Leipzig." GeoJournal. 61, 13-21. Abstract: "In the early 20th century, the East German city of Leipzig seemed well on its way to become a metropolis of international importance. The city was expected to grow towards over one million inhabitants in 2000. Seventy years later, Leipzig's population has shrunk to less than 500,000 inhabitants instead. The German partition after World War II took away most of its national administrative and economic functions and much of its hinterland. The socialist GDR regime worsened the long-term development perspectives and living circumstances of the city. The German reunification brought new development chances, but like most East German cities, Leipzig's hopes soon became disappointed. The local politicians faced a difficult redevelopment task: apart from the question how to revive the local and regional economy, they also had to deal with a housing vacancy rate of 20%, a huge need for renovation in the older neighbourhoods as well as in the socialist high-rise areas, the negative effects of urban sprawl on the city core, and various environmental pollution problems. After briefly describing the development path of Leipzig until the 1990s, the paper will discuss the current attempts of the city government to give Leipzig a more positive post-industrial future. On the one hand, Leipzig is developing a strategy to 'downsize' the city's built environment and infrastructure to adapt to a probably lastingly smaller population. On the other hand, many growth instruments well known from the international scientific and political debate are tried to put Leipzig back on the (inter)national map. The paper will discuss these development strategies in the light of the international debate on the question 'how to fight the shrinking city', with specific attention for post-socialist cities."

Kühn, Manfred & Heike Liebmann (2007). "Strategies for Urban Regeneration - The Transformation of Cities in Northern England and Eastern Germany." Restructuring Eastern Germany. Springer Berlin Heidelberg. Available at: http://www.springerlink.com/content/g273215603gtg568/

Pickard, J., and W. Chilton. 2007. "Five Cities, Five Strategies for Regeneration". Urban Land. 66 (7): 50-58.

Could using an immigration policy to attract potential urban residents help reverse population decline in the city of Detroit? Possibly. The following article looks at the steps Winnipeg took torevise its declining population and tax base by enticing new immigrants to settle there. As a potential urban revitalization strategy, the article lays out several policy recommendations.

Madar, Josiah, Been, Vicki, and Amy Armstrong. "Transforming Foreclosed Properties into Community Assets." NYU Furman Center for Real Estate and Urban Policy, 2009. The report reviews the main issues discussed at a roundtable hosted by the Furman Center and supported by the Ford Foundation on May 2, 2008. It describes market issues for foreclosed properties, as well as opportunities for purchasing, reselling, and rehabilitating foreclosed properties. Additionally, the paper includes case studies that describe successful strategies that have been employed by various cities and local governments.

Funders play an essential role in repurposing vacant properties for productive reuse. The Funders' Network for Smart Growth and Livable Communities recently released a report that provides a comprehensive definition of urban agriculture and outlines several ways in which funders can support this innovative reuse strategy.

Virginia Local Initiatives Support Cooperation, "The Ripple Effect: Economic Impacts of Targeted Community Investments." Federal Reserve Bank of Richmond. (2005) http://go.clientapp.com/vacantproperties/production/resources/ppts/Ripple%20Effect.pdf Abstract: "This publication illustrates how to create neighborhoods of choice and opportunity, when resources are limited and maximum results are desired. It summarizes the results of a Federal Reserve Bank of Richmond study, examining the Neighborhoods in Bloom program in Richmond. Only five years after the program was initiated, the study reports some significant economic impacts of the policy, including increased home values. By targeting public and foundation resources to specific distressed neighborhoods, Richmond was able to attract the much-needed market capital. This targeted strategy premised on process, political will, and partnerships, enabled Richmond to transform some of its most disinvested neighborhoods."

Accordino, John, George Galster, and Peter Tatian. "The Impact of Targeted Public and Nonprofit Development on Neighborhood Development: Research based on Richmond, Virginia's Neighborhoods in Bloom Program," Federal Reserve Bank of Richmond, July 2005. This report examines Richmond, Virginia's Neighborhoods in Bloom program to assess the impacts of the targeted investment strategy that was used to revitalize the city.

Cohen, James R. (2001). "Abandoned Housing: Exploring Lessons from Baltimore. Housing Policy Debate." 12(3), 415-48. Abstract: "Population loss and economic decline have resulted in thousands of abandoned homes in major U.S. cities. Although abandoned homes are symptomatic of other problems, they also contribute to neighborhood decline and frustrate revitalization. This article provides an overview of the national scope of abandoned housing and profiles Baltimore's strategy for addressing this problem. Challenges in Baltimore's revitalization planning include the necessity of and financial requirements for a comprehensive approach and the difficulty of reaching consensus. Widespread property "flipping" hampers prevention. Efforts to acquire and demolish units are constrained by difficulties in tracking ownership, felons' ownership of derelict units, and a shortage of staffing to process takings. Challenges in rehabilitating and marketing row houses include the need for subsidies to make units affordable to the most likely buyers, the omnipresence of lead paint, and the lack of foreign immigration. The article proposes a more strategic approach to the city's revitalization planning." [Also view: Culhane, Dennis P., and Amy E. Hillier (2001). "Comment on 'Abandoned Housing: Exploring Lessons From Baltimore.'" Housing Policy Debate. 12(3), 449-55.]

Culhane, Dennis P., and Amy E. Hillier (2001). "Comment on 'Abandoned Housing: Exploring Lessons From Baltimore.'" Housing Policy Debate. 12(3), 449-55. Abstract: "For most cities, the possibility of transforming unused property into community and city assets is as yet hypothetical. Fiscal constraints limit the amount of land acquisition, relocation, and demolition that cities can undertake. Private investors, unsure of which neighborhoods have a chance of becoming self‐sustaining, are reluctant to take risks in untested markets. Cities need to create citywide planning strategies for land aggregation and neighborhood stabilization and to develop analyses of the risks and opportunities associated with redevelopment opportunities in specific markets. Research seems sorely needed. Although the policy world cannot and will not stand still waiting for academics to design the perfect study or to collect all the data to model the potential effects of various policy options and investments, analysis that can play a more immediately supportive role can and should be done now." Also view: Cohen, James R. (2001). "Abandoned Housing: Exploring Lessons from Baltimore." Housing Policy Debate. 12(3), 415-48