Created by Congress in 1993, HOPE VI has been the
laboratory of public housing reform.
HOPE VI grants provided critical seed capital to
leverage public and private sector investment in distressed
neighborhoods. This “first money in" approach – combined with unprecedented
regulatory flexibility – enabled housing authorities to build first-time partnerships with
private developers and others.
As a result, a new market was created, composed of private investors and lenders who began to view mixed-income,
mixed-finance public housing as a good investment.
Since its inception, 130 housing authorities received more than $6 billion in
HOPE VI grants. Working with local and state governments, non- and
for-profit organizations, and public and private sector businesses,
they have leveraged those funds for a total investment of more than $16 billion.
By September 30, 2009, 107 projects had completed all HOPE VI construction and there were 141 in progress. Housing authorities had relocated 72,718 households, demolished 94,367 public housing units, completed 80,130 units and occupied 78,347 units. 
The results included:
-
Improved quality of housing and neighborhoods
- Broader community and supportive services
- Energy efficiency and green initiatives that improve health and save money
- Lower levels of crime
Through HOPE VI revitalization, entire communities have experienced improved property
values, increased safety and security, reinvestment by local businesses, and an
enhanced quality of life for all residents.
Related:
CLPHA comments on HUD's Choice Neighborhoods Initiative (CNI), which is modeled on the HOPE VI program
