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What Is A Strategic Acquisition? Decision Modeling In Support Of Foreclosed Housing Redevelopment, Michael P. Johnson Jr., Rachel B. Drew, Jeffrey Keisler, David Turcotte
What Is A Strategic Acquisition? Decision Modeling In Support Of Foreclosed Housing Redevelopment, Michael P. Johnson Jr., Rachel B. Drew, Jeffrey Keisler, David Turcotte
Michael P. Johnson
This paper describes and develops a model for calculating location-based strategic values of foreclosed properties considered for acquisition and redevelopment by community development corporations (CDCs). A property’s strategic value refers to its proximity to site-specific neighborhood amenities and disamenities (e.g. schools, public transit, distressed properties), given the relative importance of that proximity to CDC organizational and community objectives. We operationalize the concept of strategic value, and apply this concept to a salient public sector decision problem. Using data and value assessments from a CDC engaged in foreclosed housing redevelopment, we compute measures of strategic value for a set of acquisition …
National Science Foundation Funded Project: "Collaborative Proposal: Decision Models For Foreclosed Housing Acquisition And Redevelopment", Michael Johnson, Jeffrey Keisler, Senay Solak, David Turcotte
National Science Foundation Funded Project: "Collaborative Proposal: Decision Models For Foreclosed Housing Acquisition And Redevelopment", Michael Johnson, Jeffrey Keisler, Senay Solak, David Turcotte
Michael P. Johnson
The recent housing foreclosure crisis has had devastating impacts on individuals and their communities. To mitigate some of these impacts a number of community-based organizations are acquiring foreclosed properties in efforts to support neighborhood stabilization and revitalization. Examples of actions taken on these foreclosed properties include: land-banking, rehabilitation, demolition and re-sale or/re-rental. These actions have the potential to minimize blight, reduce unanticipated housing mobility, and provide affordable housing opportunities. However, the cost of pursuing any or all of these strategies to their fullest extent far exceeds the resources available to typical community-based organizations. In this research project, the PIs will …