A weak real estate market—with minimal housing production, scattered vacant plots, and low property values—can undermine neighborhood change and revitalization efforts in legacy cities of any size. Greater Ohio Policy Center has created a toolkit with long time partner the Lincoln Institute of Land Policy. The toolkit, “Identifying Equitable Real Estate Development Strategies,” is now available on the Lincoln Institute website. The strategies it outlines can help small nonprofits, philanthropies, local governments, and other practitioners in weaker markets determine the right programming for their communities and thereby increase both real estate development activity and equitable outcomes from it.
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The toolkit draws from principles outlined in the 2021 Policy Focus Report Equitably Developing America’s Smaller Legacy Cities: Investing in Residents from South Bend to Worcester, which has an accompanying policy brief summarizing its recommendations and a webinar that hig hlights real-life examples of city leaders who have implemented the strategies discussed.
A 2022 working paper, “Building Equity: Equitable Real Estate Development Strategies for Weak Markets,” also highlights strategies tailored for legacy cities.