Reconstructing neighborhoods: two case studies in foreclosed housing acquisition and redevelopment by community development corporations in Massachusetts

Community development corporations (CDCs) played a central role in addressing the housing crisis of foreclosures in America’s urban neighborhoods. The success of CDCs, however, is closely tied to market forces, neighborhood characteristics, and policies at multiple levels, as well as factors internal to CDCs. What factors support or impede the success of CDCs that operate in such complex environments? We examined the experiences of two CDCs serving three small, ethnically diverse cities in Massachusetts regarding resources, policy, practices and local markets related to neighborhood revitalization. We derived lessons about the factors internal and external to these CDCs that affected their ability to acquire and redevelop foreclosed housing in the target areas they serve.