- HOPE VI
- Volume 12 Number 1
HOPE VI and Neighborhood Economic Development: The Importance of Local Market Dynamics
As with the articles in this issue, this introduction reflects the views of the authors and does not necessarily reflect the views of the U.S. Department of Housing and Urban Development.
This study examines the extent to which HOPE VI redevelopments have had positive spillover effects on their surrounding neighborhoods. It examines four such redevelopments-two in Boston, Massachusetts, and two in Washington, D.C.-and documents the changes that have taken place in property values, violent crime patterns, and resident incomes in surrounding neighborhoods since the redevelopment began. The study assesses the extent to which those changes can be attributed to the public housing redevelopment.
The study finds that, for the most part, the HOPE VI redevelopments have had positive, statistically significant effects on economic conditions in their surrounding neighborhoods. The extent of the spillover neighborhood effects has depended, in part, on the location and market dynamics of the surrounding community. The economic effects of a HOPE VI redevelopment have tended to be greater in communities where there were other development pressures and existing, stable institutions. In the absence of these factors, the positive effects of HOPE VI have been less pronounced.
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