Neighborhood Stabilization
At the Forefront of Community Revitalization
The Network’s Neighborhood Stabilization initiatives provide working capital, financing and technical assistance to help members respond to the foreclosure crisis. These entrepreneurial nonprofits are forging partnerships with local government and the private sector to acquire, rehabilitate and sell foreclosed homes and revitalize communities.
Leading the Way
The Housing Partnership Network helped lead a pioneering collaboration among six major nonprofit intermediaries to create the National Community Stabilization Trust (NCST). Through the Trust, nonprofits in more than 100 communities can efficiently acquire and rehabilitate foreclosed homes from servicers and financial institutions. The Network's CEO serves as the chairman of the Trust's Board of Managers.
The Network and its partners also spearheaded a nationwide campaign to authorize and fund the $6 billion Neighborhood Stabilization Program (NSP). This new federal initiative is the principal capital resource for nonprofit developers and governments to acquire and rehabilitate foreclosed homes. Using NSP funds, 43 Network members now operate neighborhood stabilization programs, partnering with state and local civic institutions to revitalize communities.
For more information, contact Matt Perrenod.
Latest Updates
New affordable condominiums in seven duplex buildings developed by HAP, Inc. in Springfield, MA
