Homeownership Zones Revitalize Neighborhoods

Homeownership Zones Revitalize Neighborhoods Recent Research Results

Homeownership Zones Revitalize Neighborhoods

"Home is where our connections to our community, our city, and our Nation begin," Secretary of Housing and Urban Development Henry G. Cisneros declares in the introduction to New American Neighborhoods: Building Homeownership Zones To Revitalize Our Nation's Communities. Homeowners, in particular, have a powerful investment in keeping the neighborhoods where they live and raise their families healthy and vibrant. Substantially increasing the number of homeowners can be key to securing and revitalizing troubled inner-city neighborhoods.

New American Neighborhoods, a new publication from HUD, introduces President Clinton's proposal for Homeownership Zones, a component of his National Homeownership Strategy. Backed by a proposed $135 million Federal commitment in fiscal year 1997, Homeownership Zones will competitively fund public-private partnerships to develop projects of 300 units or more of new homeowner housing and promote ownership in older neighborhoods.

The publication highlights large-scale new home construction initiatives in more than eight cities throughout the United States that "recycled" devastated neighborhoods using public and private funding, often in creative partnerships. The success of projects in Los Angeles, Cleveland, Houston, Portland, and other communities demonstrates why Homeownership Zones are an idea whose time has come. The projects profiled may also provide ideas to housing developers and State or local government officials creating their own Homeownership Zones.

For free copies of New American Neighborhoods: Building Homeownership Zones To Revitalize Our Nation's Communities, call HUD USER or order online at https://www.huduser.gov/order/pdrorder.html.

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