Several NYS land banks are rehabbing vacant and abandoned properties through the Neighbors for Neighborhoods program. The goal of the program is "to develop some affordable rental housing in struggling neighborhoods and build local wealth at the same time." Through Neighbors for Neighborhoods, land banks across the state are making investments to provide high quality, affordable rental units. Under the terms of sale, units must be affordable for 20 years and will be sold to those that do not own more than two rental properties.
Next City wrote a great article about the transformative work NYS land banks are doing to rehab and occupy these units!