Addressing Issues of Vacant& Foreclosed Properties

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Acquisition & Rehab Owner Occupied Rehab Multi-family

Housing Initiative PartnershipDedicated to the revitalization and removal of blight in inner beltway communities, to the creation of housing opportunities for low and moderate income persons, and

to improving the quality of life in the neighborhoods we serve.

Foreclosure Counseling Homebuyer Counseling Resident Advocacy Bounce Back

HIP Services To alleviate the effects of poverty and inequality and improve the quality of life in

the neighborhoods we serve

Community & Local Government

Impact of Foreclosure

7609 Barlow Rd, Palmer Park

Unmaintained Properties- Deter homebuyers- Existing owners

7745 Burnside Rd, Palmer Park

Decline in Health & Safety- Vandals- Squatters

8124 Allendale Dr, Palmer Park

Declining property values

7521 Greenleaf Rd, Palmer Park

Deterioration of Neighborhood Pride

7817 Allendale Dr, Palmer Park

Strain on municipal resources

2005 Palmer Park Dr, Palmer Park

Lost tax revenue

8143 Allendale Rd, Palmer Park

Lack of resources and outside investment

Through Acquisition and Rehab

Neighborhood Stabilization

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Transforms Blight

1823 Ray Leonard Rd, Palmer Park

Tangible change within a short amount of time

1202 Benning Rd, Capitol Heights

Relives burden of local authority

3702 43rd Ave, Cottage City

Restores property back to the tax roll

7711 Greymont , Palmer Park

Opportunity for homeownership

Successes

Strategic Partnerships• Working with a Trust or REO program– Discount/donations – Less competitive – Some pre-construction work may be done

• State and Local Partnerships– Concentrated funding for high foreclosure areas– Identify chronically vacant properties

Successes

Complete Rehabs

• Lower maintenance and utility costs for homeowner

• Contributes to long term affordability

Successes

Community Support– Communication – Employment • Eyes on the street• Buy-in to the program• Supplementary income• New skills / trade

– Bigger Picture• What are the needs of

the community?PGCC Landscaping Students

Ranging from minor repairs to total renovations

28 Owner Occupied Rehabs

Owner Occupied Rehab

Street Scholarship

HIP Services

Street Scholarship

Sent more than 400 people to college classes

Challenges

– Investors (Potentially)• Thorough appraisals and inspections

– Qualified buyers– Unpredictable market / Restoring faith in

low/mod neighborhoods• High quality rehabs• Marketing assistance• Incentivize purchase

Jocelyn HarrisHousing Initiative Partnership, Inc.

301-699-1222jharris@hiphomes.org