The Land Bank is supporting existing neighborhood residents, assisting them with renovation and purchase of properties in their neighborhood and creating high-quality, affordable, rental housing.
The Land Bank held a formal ribbon cutting at 304 W. Beard Ave. at 4:30 PM Tuesday, November 19th. Neighbors had an opportunity to tour the home immediately after the ribbon cutting.
This renovation was made possible by grant funding from Enterprise Community Partners Community Revitalization Initiative program, which provided financial support to 25 land banks across NYS. A related grant enabled the Land Bank to demolish a blighted house next door at 302 W. Beard, which was merged with the neighboring property at 304 to expand the yard and allow space for future tenants to park.
Executive Director, Katelyn Wright, explains, “The home at 304 W. Beard Ave. was converted into a two-family and fully renovated with a new roof, siding, windows, flooring, kitchens, bathrooms, insulation, and mechanical systems. You’ll see inside that it feels like a brand new house. It is lead safe and energy efficient and will be a high-quality affordable home for two families. The grant funding enabled us to complete a high quality renovation, but keep the sales price affordable and sell the home to a neighbor who already lives nearby, giving them a chance to invest in improving their neighborhood. We think that neighbors who live nearby and pass by each day will have a strong incentive to maintain the property and keep the neighborhood looking good.” The buyers in this case live right around the corner on Wood Ave. They will be obligated to operate the property as an affordable rental property for 20 years.
The Land Bank owns several additional demolition candidates on this street and several already vacant lots. We are committed to pursuing projects and buyers that can facilitate more renovations and new construction. Despite the work we have left to do, as you drive down the street, you’ll see many owner-occupied homes that are well maintained and cared for and we are optimistic about the direction this neighborhood is headed.
“The Beard Ave. project replaced two long standing blighted properties with a brand new home that will serve as an asset to the neighborhood for years to come,” said Mayor Walsh. “This is just the most recent example of how the Land Bank, through the support of the Attorney General’s office and a host of other local partners, is transforming our city neighborhoods one block at a time.”