Neighborhood Revitalization is an effort to “Enhance existing neighborhood resources, support economic development, provide public services, and improve quality of life.” – Neighborhoodrevitlization.org
Many urban neighborhoods are loved by their inhabitants, but may soon be, or are now, dealing with obstacles. Pennsylvania has one of the oldest median ages in the country and Philadelphia has the largest percentage of seniors of any of the 10 largest cities in the United States. (Susan Klein, director of housing for the Philadelphia Corporation for Aging)
In the Philadelphia region there are many neighborhoods with elderly long term residents who have deferred maintenance problems with their homes. If not addressed this brings down the value of homes, makes them harder to sell, and places a burden on new homeowners and the neighborhood itself when properties turn over. Many homeowners feel pressure from investors in these neighborhoods – homeownership levels may drop due to a push of rentals and lower rental prices throughout these neighborhoods.
“The tens of thousands of homes built in post World War II baby boom neighborhoods are now fiifty to sixty years old.” – David W. Feldman
Conversely, many older and working class/middle class neighborhoods, especially those adjacent to the expanding center city area, are facing gentrification pressures. It can be a challenge to maintain economic diversity and a range of housing options. In these areas, a key issue is maintaining the physical quality of housing. Even when there is little abandonment or intense blight in these neighborhoods, they still have a risk of deteriorating due to aging housing stock and population.
The Right-Sized approach preserves the diversity of housing options for its communities, and improves the quality of life for residents. We work to identify and attract the appropriate new populations of What do we do?
|Neighborhood Preservation||Property Development|