Habitat for Humanity International has teamed with the UNC Center for Community Capital to evaluate the impact of the nonprofit developer’s revitalization of seven U.S. communities through the federally funded Neighborhood Stabilization Program (NSP).
The research project will examine how neighborhood conditions have changed following the revitalization efforts and compare that to conditions in similar neighborhoods that did not receive such intervention.
Center researchers will consider home prices and sales, foreclosures, vacancy rates, crime and other economic indicators in their evaluation. The seven neighborhoods are located in Collier County (Fla.), Dallas, Los Angeles, Miami, Milwaukee, Pensacola and New York City.
Habitat’s NSP work began in May 2009 when the U.S. Department of Housing and Urban Development opened the second round of NSP funding to nonprofits. The program was designed to help low-income neighborhoods recover from the foreclosure crisis and housing market collapse. Habitat has worked with seven U.S. affiliates in five states to buy and rehabilitate foreclosed or abandoned homes and build new homes on vacant lots. It seeks to provide affordable housing to 1,062 families by February 2013 when the grant term ends. For more information, visit www.habitat.org/govgrants/nsp2.
The impact of homeownership and financial interventions in low-income neighborhoods is a key area of study and expertise for the UNC Center for Community Capital, the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. Part of the College of Arts and Sciences at the University of North Carolina at Chapel Hill, the center offers research and policy analysis to help policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people more effectively. For more information, visit www.ccc.unc.edu or call (919) 843-2140.
Topics(s): Affordable Homeownership, Mortgage Finance