Foreclosure Crisis Opens and Closes a Treasure Trove of Parks

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Foreclosure Crisis Opens and Closes a Treasure Trove of Parks

Foreclosure Crisis Opens and Closes a Treasure Trove of Parks

The Atlantic Cities-

Atlanta has struggled through the great recession with one of the biggest foreclosure epidemics in the U.S. At its peak, in 2010, there were more than 127,000 foreclosures in the Atlanta metro area. The latest count tallied more than 72,000. Statewide, Georgia has the fourth highest rate of foreclosure in the U.S., according to July figures from RealtyTrac. Empty houses are all over the place. For almost everyone concerned, this is a problem. But for others, the swath of foreclosed homes present an opportunity.

“A lot of us in the beginning had though ‘Ooh, there’s a silver lining to this cloud,'” says Ellen Wickersham. She’s in charge of parkland acquisition for Invest Atlanta, the city’s economic development agency. She and others in her field had assumed that all these empty homes with no owners in sight and prices near the floor were prime park-making ingredients.

[THE ATLANTIC CITIES]

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One Response to “Foreclosure Crisis Opens and Closes a Treasure Trove of Parks”

  1. Sarah says:

    Keep in mind, Wall Street doesn’t just want to steal your houses, they’ll steal everything in the public domain that isn’t bolted down and attempt to put a toll booth in front of it. The city shouldn’t deal with alleged predatory thugs who have blighted neighborhoods, they should bring eminent domain, return owner’s to their homes, and proceed to do so in the public’s interest. Sometimes, Cities are so hopelessly controlled by business interests, that they will claim sacrificing the public good is unavoidable. This is false, Bond defaults should be encouraged.

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