Two Decades of Reclaiming Vacant Properties: A Conversation with Wells Fargo

As the Reclaiming Vacant Properties Conference (RVP) marks nearly 20 years of bringing community leaders together to tackle vacant, abandoned, and deteriorated properties, we asked one of our longtime partners about how the field (and the philanthropy supporting it) has evolved. In this interview with Sarah Bainton Kahn, Head of Housing Access and Affordability Philanthropy at Wells Fargo and Company, we asked what’s changed in community revitalization and what she hopes attendees take away from RVP 2026 in Pittsburgh.

1. What has changed most in the community revitalization landscape, and what challenges have remained the same?

Over the nearly 20 years of RVP, one of the biggest changes has been a broader understanding of what revitalization truly means. Today, we recognize that sustainable revitalization is about more than improving buildings or reducing vacancy. It is about creating opportunity by connecting housing access and affordability, business growth, financial opportunity, and economic advancement into a larger community strategy. What we’re learning is that community-led solutions are often the most durable because they reflect local priorities and build on local strengths. Communities are increasingly bringing together residents, nonprofits, businesses, and public-sector partners to drive transformational change.

At the same time, some challenges have remained remarkably consistent. Housing affordability and barriers to economic opportunity continue to affect many communities. Vacancy is often a symptom of those broader issues. The encouraging difference today is that we have stronger partnerships, more data, and a better understanding of what works. If we continue to focus on outcomes, community-driven solutions, and scaling successful models, we can create meaningful impact that lasts for generations.

2. Beyond grantmaking, what other tools does Wells Fargo use to advance revitalization and vacant property reuse? How do you measure success?

Grantmaking remains important, but we believe meaningful revitalization requires bringing together the full range of resources available at the intersection of business and philanthropy. Our approach focuses on partnership, expertise, and long-term investment in community capacity. We work alongside community organizations, local leaders, and other partners to help create conditions that attract additional investment and support sustainable growth. The goal is not simply to fund projects, but to help communities build momentum that continues well beyond a single investment.

When it comes to measuring success, we focus on outcomes rather than just outputs. The most important question is not how much money was invested, but what changed because of that investment. Did more families gain access to stable housing? Did small businesses create jobs and strengthen local economies? Did a neighborhood become more resilient and connected? These are the indicators that help us understand whether our efforts are producing meaningful impact. Intentional philanthropy is most effective when it creates measurable results and opens pathways to economic empowerment and long-term opportunity.

3. What does a city like Pittsburgh teach other communities earlier in their revitalization journey?

Communities can learn a great deal from cities that have experienced long-term revitalization. One lesson is that meaningful change rarely happens overnight. Successful revitalization is often the result of years of partnership, consistent investment, and a shared commitment to a long-term vision. Communities that are earlier in their journey should take encouragement from the fact that progress is often built one project, one partnership, and one opportunity at a time.

Another key lesson is the importance of balancing economic growth with community inclusion. Revitalization is strongest when residents are part of the process and have opportunities to benefit from the progress taking place around them. What we’re learning is that lasting revitalization happens when communities build on their existing strengths and bring together partners around a shared vision for the future. While every community’s journey is different, the principles remain the same: listen to residents, invest intentionally, measure meaningful impact, and scale what works. Those lessons can help communities at every stage of their revitalization journey create transformational change over time.

4. What role do financial institutions play in advancing revitalization beyond writing checks?

Financial institutions have an important role to play because they can bring together resources, expertise, and partners in ways that extend well beyond financial contributions. While funding is important, sustainable revitalization requires collaboration across sectors. Financial institutions can help connect nonprofit organizations, businesses, public agencies, and community leaders around a shared vision and help create pathways to broader economic opportunity.

The other thing I would say is that revitalization is ultimately about helping people thrive. Financial institutions can contribute by supporting efforts that expand access to housing, strengthen small businesses, and open doors to economic advancement. We can also help bring a data-informed perspective to understanding what is working and where additional resources are needed. Most importantly, we can serve as partners. No organization can solve these challenges on its own. Lasting change happens when communities, nonprofits, government, and the private sector work together with a shared commitment to measurable outcomes and transformational change. The people in our communities are depending on this commitment.

5. What do you hope sponsors, attendees, and communities take away from RVP 2026?

My hope is that participants leave RVP 2026 with a renewed sense of possibility and a deeper appreciation for the power of partnership. Across the country, communities are finding innovative ways to transform vacant and underutilized properties into assets that support housing, entrepreneurship, economic growth, and community connection. Those examples remind us that vacancy is not simply a challenge to manage; it is also an opportunity to reimagine what communities can become.

I also hope attendees take away practical lessons they can apply in their own communities. One of the greatest benefits of convenings like RVP is the opportunity to learn from successful models, share ideas, and scale what works. The challenges are significant, but there is reason for optimism. When we bring together community partners, public leaders, philanthropies, and businesses, we create the conditions for meaningful impact. What happens next is what matters most. If we remain focused on community-led solutions, measurable outcomes, and long-term collaboration, I believe the next 20 years can be even more transformative than the last.

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Want to hear more? Join us at the Reclaiming Vacant Properties Conference this September 22–25, 2026 in Pittsburgh and check out dozens of sessions on every stage of the revitalization cycle.

Register for RVP 2026 »