Over time, Cabrini–Green's location became increasingly desirable to private developers. Speculators began purchasing property immediately adjacent to the projects, with the expectation that the complex would eventually be demolished. Finally, in May 1995, the federal Department of Housing and Urban Development (HUD) took over management of the CHA and almost immediately began demolishing the first of the vacant "reds" buildings in Cabrini Extension, intending to make Chicago a showpiece of a new, mixed-income approach to public housing. Shortly thereafter, in June 1996, the city of Chicago and the CHA unveiled the Near North Redevelopment Initiative, which called for new development on and around the Cabrini–Green site. Under a ten-year Plan for Transformation, which was officially enacted in 2000, the city plans to demolish almost all of its high-rise public housing, including much of Cabrini–Green (except for a few of the run-down row houses, which tentatively remain).