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Urban Institute:
Drawing on the existing research evidence, this study systematically compares the costs (both monetary and nonmonetary) of maintaining severely distressed public housing developments to the potential costs and benefits of effectively revitalizing them.
An effective redevelopment strategy can dramatically improve living conditions for families, resulting in better physical and mental health and increased employment and earnings.
Moreover, redevelopment can trigger the revitalization of previously blighted communities.
Over the past decade, the HOPE VI program has invested over $6 billion in federal funds for the replacement or revitalization of severely distressed public housing developments.
These federal dollars have leveraged billions more in other public, private, and philanthropic investments.
In effect, they argue that the problem of severely distressed public housing has largely been solved and that the country cannot afford to replace or revitalize more properties.
However, a growing body of research highlights the damage to families and children of living in dangerous, high-poverty environments and the potential benefits of replacing severely distressed public housing with a combination of high-quality, mixed-income housing and rental vouchers.
In fact, for a typical distressed public housing project, mixed-income redevelopment---effectively implemented---can save the public more than $20 million over 20 years.
Posted on April 4, 2007 03:09 PM
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