Since we began our work in Janesville, the average sale prices of homes in two neighborhoods increased by 51%.
In 2011, the Partnership joined with the City of Janesville to work on revitalization of two neighborhoods in downtown Janesville, Look West and the 4th Ward. Both neighborhoods had been devastated by the closure of the GM plant and then by the national foreclosure crisis. As a result, there were numerous vacant homes, creating neighborhood instability and crime.
The city made an effort to stabilize these areas by using Neighborhood Stabilization Program funds, both to demolish homes that could not be saved and rehab those that could be returned to safe housing. Since that time, the Partnership has renovated and newly constructed over 20 homes totaling close to $2 million in new value in these neighborhoods, and the City completed many others. As a result, vacancy rates in the neighborhood have been reduced and property values have increased significantly. This work demonstrates how communities can effectively achieve their revitalization goals by strategically targeting their resources.
