The Real Deal Miami

Neighborhood Stabilization Program helps SF

August 30, 2010 12:00PM

The federal government’s Neighborhood Stabilization Program, originally
launched as part of the 2008 Housing and Economic Recovery Act, is
beginning to pick up steam. The strategy has been to buy up foreclosed
properties to renovate or rent, hopefully encouraging low- and
middle-income residents to settle into areas known for abandonment and
blight. Miami Dade County’s strategy has been to buy up at least five
multi-family buildings in areas from Opa-Locka to Little Havana, and
create thousands of units for renters. [Miami