Vacancy Problems can be combated by community cooperation

Categories
Vacancy Problems can be combated by community cooperation
A question about how realtors along with community and local administration can revitalize neighborhoods by rehabilitating abandoned, deteriorated and vacant houses is not very uncommon.  Any long term plan to solve housing vacancy problems can be based on equity and fairness.

Unless a long term approach is adopted, the vacancy problem won’t cease. Concerted work from stakeholders like small businesses, local governments and communities will be required to combat this issue. Following are the steps that can be taken.

Equity must be given its due priority: When we talk of revitalization, creating opportunity for all and supporting diversity must take precedence.

Collaboration at each level is required: Everyone must be brought to table; local governments can make that happen.

Systemic change should be targeted: A fragmentary solution will lack the required efficacy. The fundamental issues exclusive to a particular community which worsen the significant vacancies must be identified by the organizers.

COVID-19–related federal block grants can be used by the local governments for giving financial relief to small-scale businesses and rental assistance to tenants; this way the short term vacancies created by pandemic related distress can be dealt with.  Landlords also require help with refinancing; such assistance can be given as the interest rates are low these days. A city administration by employing counter-displacement measures by adopting inclusive approach towards growth can find success in its revitalization endeavors. Each individual would prefer affordability and safety with regards to the place he chooses to live in. Promoting and encouraging investment in owner-occupied rehabilitation programs, letting the established neighborhoods thrive under protection and making sincere efforts in development of coordinated housing system are some of the measures which have worked in the past.

Rezoning vacant office properties can allow them to be transformed into economical multifamily residences; this way useful community assets can be made out of vacant properties.

Realtors must be made a part of discussions related to vacancy problems. Their experience and expertise can be of a great help. Inclusion and equity is one common ground on which all the stakeholders can form a consensus and proceed with work to combat the vacancy problems.

RECENT COMMENTS

  1. I Know That You Are One Time With This Revitalizing Neighborhoods With Citizens’ and Business Participation !

    Robert Taylor

LEAVE A REPLY