The last couple of years have brought wrenching changes to the real estate market in the Twin Cities. In many neighborhoods PPL serves, property values declined by over 25% since 2006. Foreclosures doubled during that time, contributing to the staggering figure of 33,000 vacant residential properties in the metro area as of September 2009. Stubbornly high un- and underemployment leads many experts to be concerned about another wave of foreclosures attributable to hard economic times facing working families.
As the turmoil that these trends caused in neighborhoods became evident, it was heartbreaking to see years of community development work undermined in a matter of months. More recently, it has been heartwarming to see the response of neighbors, government at all levels, private institutions and organizations like PPL coming together and fighting back to regain lost ground.
Stable neighborhoods are essential in order for the families we work with to thrive.
While our organizational mission focuses on helping people become more self-sufficient, achieving that goal can’t be divorced from the health of the place where our residents and program participants live. Housing projects like those highlighted in this newsletter are an important part of restoring blocks in areas hard hit by foreclosure, abandonment and general housing market decline. But true recovery will require a larger vision.
Restoring healthy neighborhoods in the coming years means more than bricks and mortar investments. Stable, quality, affordable housing is a critical building block: an important starting point but not the end destination.
A comprehensive approach demands paying attention to how well children are doing in their school, addressing the health challenges facing families, helping parents obtain employment or improve their jobs … and on and on. This is a philosophy PPL has long embraced. And if there is a silver lining to the multi-faceted housing and economic crisis, it may be the opportunity to adopt a more holistic approach to re-building communities in the years ahead.
These have been trying times. But it is precisely in times like these that the work of agencies like PPL is most needed. Your support makes that work possible.
Thank you.