INNOVA REDEVELOPMENT

Innova Redevelopment, LLC, fosters neighborhood stabilization of transitional neighborhoods that border stable and high value areas through the redevelopment of existing housing; replacing sources of blight with quality housing that is affordable over the long term.

Innova’s redevelopment projects rely on relatively modest buyer-subsidies to incentivize new private development. The buyer-incentive approach is also administratively simpler; allowing for straightforward property purchases by developers from private sellers, including bank REO departments, in lieu of the complex and time consuming public acquisition and disposition processes traditionally used for affordable housing development.

Innova Redevelopment is an active participant in the Neighborhood Stabilization Program, redeveloping vacant foreclosed properties into high-quality affordable homes in transitional neighborhoods.