HOPE VI and Mixed-Finance Redevelopments: A Catalyst for Neighborhood Renewal
By: Mindy Turbov and Valerie Piper
Across the United States, attractive mixed-income developments and revitalized neighborhoods are being created where distressed public housing once stood. One of the drivers of this transformation has been the U.S. Department of Housing and Urban Development’s HOPE VI program.
Using four case studies, this report examines the broader neighborhood effects of HOPE VI mixed-finance redevelopments finding that, when used strategically, HOPE VI’s partnership with the private sector and holistic approach—integrating housing with schools, jobs, amenities, and social services—has great potential to remake distressed public housing and jumpstart wholesale neighborhood improvements. HOPE VI funds can attract new investment into places where the market was previously absent. Additionally, HOPE VI ensures a permanent and quality home for low-income households in the midst of neighborhood renaissance.