Revitalization Areas are HUD-designated geographic areas authorized by Congress under provisions of the National Housing Act. Revitalization Areas are intended to promote "the revitalization, through expanded homeownership opportunities, of revitalization areas."
The criteria for designating an area as a Revitalization Area relate to 1) household income, 2) homeownership rate and 3) FHA-insured mortgage foreclosure activity.
Single family properties owned by HUD as a result of foreclosure of FHA-insured mortgages and located in a Revitalization Area are eligible for sale through special programs at discounts. These HUD programs include Good Neighbor Next Door (sales to law enforcement officers, teachers and firefighters/emergency medical technicians), Asset Control Area program partnerships with nonprofit organizations and local governments and discount sales to local governments and HUD-approved Nonprofit Organizations.
There are hundreds of revitalization areas across the country. You may search for revitalization areas online!
HUD is always working with localities to designate new areas. For information on Revitalization Area Evaluation Criteria, please see Housing Notice 09-01.
Contact your local HUD Homeownership Center to discuss designating Revitalization Areas in your community.
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