Giving new life to vacant buildings can boost struggling towns


In New York, an intentional form of housing development is keeping affordability in mind. Neighbors for Neighborhoods provides funding for locals to redevelop blighted property from land banks and rent it out as affordable housing. The parameters ensure local impact: there is a limit to how many properties an individual can rent out, and the properties must be rented to people making below 80% the median income in the region. The program has $4 million in funding so far.

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