Policy Brief
Vacant and abandoned properties are a familiar part of the American landscape that can devastate entire neighborhoods, diminishing the value of nearby properties. More extreme cases may cause severe fiscal damage to local governments by reducing local tax revenues while costing cities millions for policing, cleaning vacant lots, and demolishing derelict buildings. Vacancy and hypervacancy—when rates surpass 20 percent—can, however, be addressed by strategies for reuse, rehabilitation, and revival though public and nonpublic action, strategic demolition, and green reuses for vacant land.
This policy brief condenses the Policy Focus Report, The Empty House Next Door: Understanding and Reducing Vacancy and Hypervacancy in the United States, by Alan Mallach and builds on the Legacy Cities Initiative network of community leaders and government officials working to create shared prosperity for legacy cities.
Keywords
Economic Development, Housing, Local Government