Social and Behavioral Sciences Commons^™

Decision Models For Foreclosed Housing Acquisition And Redevelopment: A University Of Massachusetts Multi-Campus Collaborative Project - Processes And Findings To Date, Michael P. Johnson Jr., Jeffrey Keisler, Senay Solak, David Turcotte, Rachel B. Drew, Armagan Bayram, Emily Vidrine

Public Policy and Public Affairs Faculty Publication Series

The recent housing foreclosure crisis has had devastating impacts on individuals, communities, organizations and government. In response, several community development corporations (CDCs) have sought new ways to assist neighborhoods suffering from the myriad effects of high foreclosures, including neighborhood instability, increased vandalism and crime, lower property values, and economic disinvestment. This research project focuses on activities of community-based organizations that acquire and redevelop foreclosed properties to support neighborhood stabilization and revitalization. However, the costs of pursuing this strategy far exceed the resources available to typical CDCs. Thus, our project seeks to solve the following decision problem: What subset of a …