Neighborhood Revitalization & Community Development Corporation

Community development corporations (CDCs) revitalize distressed neighborhoods through affordable housing development, commercial development, small business support, and community services with resident leadership and community-controlled development.

With 4,600+ CDCs nationwide and neighborhoods facing disinvestment, CDCs operate with budgets of $380,000-$1,200,000+ annually funded through development fees, grants, and government contracts.

The CDC requires 501(c)(3) nonprofit status, board with neighborhood representation, real estate development expertise, community organizing capabilities, and diverse funding streams.

Programs include affordable housing development and property management, commercial corridor revitalization, small business technical assistance and financing, community facility development, and resident leadership programs.

Revenue comes from development fees, property management income, CDFI loan interest, New Markets Tax Credits, government community development contracts, and foundation grants.

Success factors include resident-led governance and community engagement, real estate development track record and capacity, comprehensive neighborhood approach (housing, commercial, services), sustainable development revenue supporting operations, and measuring neighborhood revitalization outcomes.

Most successful CDCs focus on specific geographic neighborhoods (1-2 square miles) taking comprehensive development approach over decades.

The CDC transforms neglected neighborhoods while building community wealth and power.

Many CDCs combine development with organizing, workforce programs, and anti-displacement strategies.

Funding comes from HUD, LISC/Enterprise, community development foundations, banks meeting CRA requirements, and New Markets Tax Credits.

With neighborhood inequality persisting and gentrification displacing communities in 2025, community development corporations offer transformative opportunities for community developers building resident-led organizations revitalizing distressed neighborhoods through affordable housing, economic opportunity, and community-controlled development preventing displacement and building community wealth.