by Hans Eisenbeis
- In May 2010, the Ford Foundation committed $200 million to a broad revitalization program. The idea is to integrate urban and suburban communities through improved public transit, regional land banks, and more affordable housing (NYTimes.com 5.18.10).
- Central to the project is recognizing that communities which relied heavily on private automobiles in the past have been damaged and isolated by the Great Recession.
- Abandoned residential land will be reclaimed too, integrating more parks and green space and putting limits on development.
WHAT THIS MEANS TO BUSINESS
- City and suburb alike have been hurt by the economic downturn of 2007-2010. Now city planners are considering ways to improve mobility and integration of amenities like parks, arts venues, public transportation and more.
- The Ford Foundation has long supported urban revitalization projects. This new direction aims squarely at inner-ring suburbs and their connecting infrastructure.