Cornell Real Estate Review


Editors Note: Urban redevelopment has seen a dramatic revitalization in the last two decades, especially with the creation of Community Development Corporations (CDCs) and HOPE IV. Unfortunately, successful development in Urban environments are still more the exception then the rule. While many major cities have seen a dramatic revitalization of their urban cores, the creation of low and moderate income housing solutions have dramatically lagged the overall booming housing market Many of the failures of CDCs to successfully develop can be traced directly to the long standing complaint that the funding process is too lengthy and too complicated. In addition the entire process is often bogged down in the capricious administration of government funding programs. In the following case study Alexander von Hoffman discuses many of the issues that confronted a CDC operating in Miami.


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