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Vacancy and Abandonment

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What is a Goal?

 

A Goal is an ideal future condition that describes how Trenton should be in 2042. Goals are shaped by the Guiding Principles. Together the Goals help the City achieve its community-driven Vision.

Guiding Principles related to this Goal

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Goal

All of Trenton's neighborhoods will have no abandoned housing units, with vacancy rates equal to or better than those of Mercer County

 

Background

As outlined in the Laying the Foundations for Strong Neighborhoods study, some Trenton neighborhoods have high concentrations of abandonment and vacancy. Specific sub-neighborhoods with the highest vacancy rates include Miller/Wall with a vacancy rate of 40%, Central West 2 (33.5%), Wilbur 1 (30.3%), North Trenton 3 (28.6%), and Hanover Academy (27.3%). There are a variety of reasons for Trenton's vacant housing situation, including housing location, an aging population that cannot maintain the housing stock, the cost of home maintenance, the size of housing, ownership issues, and politics. In addition, many neighborhoods in Trenton face other problems including a low home-ownership rate, high rate of investor-owned properties (many of which have problem landlords), low median sales prices, high tax delinquencies, and high rates of violent crime. As also discussed in Laying the Foundations for Strong Neighborhoods, there have also been a high number of foreclosures following the housing crisis, leading to significant speculative purchasing. Sub-neighborhoods with the highest foreclosure filing rates include Downtown at 52.7%, Berkeley Square at 41.3%, Hanover Academy at 40.9%, Circle F at 37.7%, and Chambersburg 3 at 33.2%. (See Figure 1: Mortgage Foreclosure Map)

mortgage foreclosure map laying foundation for stronger neighborhoods

mortgage foreclosure map laying foundation for stronger neighborhoods
Mortgage Foreclosure Map
Credit: Laying Foundation for Stronger Neighborhoods

Initiatives that support this Goal

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Vision & Guiding Principles

Read more about the community-driven vision for Trenton and find out how this was translated into actionable goals, initiatives, and actions.

http://trenton250.org/vision-guiding-principles
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