Housing Preservation and Community Revitalization 1

Housing Preservation and Community Revitalization are Important Needs Virginia and its urban and rural localities have a common interest in housing preservation and the promotion of community revitalization Increasingly, older, inner ring suburbs face similar preservation and revitalization challenges 2

Needs Vary Across Communities Communities experience certain common factors: – higher poverty levels – loss of manufacturing jobs – presence of older housing inventories But circumstances may also differ in significant ways relating to local opportunities, resources and barriers to change. 3

Policy Must Reflect Local Differences and Revitalization Interrelationships Virginia must avoid one-size-fits-all approaches and provide enough flexibility to respond appropriately to local diversity Virginia must recognize the interrelationship between housing preservation and broader community revitalization 4

Rural Growth Challenges Rural areas face headwinds from factors that interact to retard progress : – Declining or static populations with an older average age than the state or more dynamic areas – Shrinking economic bases resulting in the loss of jobs, income and real or perceived opportunities for future generations—fueling further outmigration – Increased dependence on income from sources other than employment 5

Barriers to Rural Revitalization Rural areas face significant obstacles in addressing their revitalization needs: – Older housing that needs significant upgrading but with limited resources available to make improvements – Aging/obsolete community infrastructure with insufficient public resources to modernize them – Potentially limited capacity for effective community leadership 6

Urban Challenges Urban economies have continued to outpace rural communities but face distinct challenges: – Maintaining the long-term affordability of both rental and owner-occupied housing – Insufficient affordable rental housing in many urban and suburban locations – An influx of newcomers occupying infill projects, renovated existing homes and converted commercial/industrial space that may squeeze out existing lower-income renters 7

Urban Challenges – A mismatch in the location of new jobs and affordable housing that burdens urban transportation systems – Concentrated poverty in many city neighborhoods and growing poverty in established inner ring suburbs with inventories of older, more affordable housing in need of renovation – Coastal communities facing a growing threat from recurrent flooding that may require costly interventions to preserve residential neighborhoods and critical infrastructure 8

Policy Opportunities Virginia’s housing policy can build on positive preservation and revitalization trends and recent successful initiatives In doing so, Virginia’s housing policy can direct limited resources to priority needs where they will have the greatest impact 9

Preservation and Revitalization Should be Pursued Jointly Neither housing preservation nor community revitalization will be successful if pursued in isolation – A healthy economy generates jobs that produce income to invest in more and better housing and community facilities – A community that includes well-maintained, affordable housing and adequate community facilities is a persuasive selling point for attracting new investment to sustain the community and provide opportunities for future generations 10