Land Bank Sales Point a Way Toward Neighborhood Revitalization
Industry Update
March 7, 2023
Source: www.lockportjournal.com
The sale of two vacant residential properties by the Niagara-Orleans land bank to a developer is seen as a step forward in revitalizing two city neighborhoods.
The properties at 530 18th St. and 231 70th St. were both abandoned homes seized by the City of Niagara Falls. They were transferred to Niagara Orleans Regional Land Improvement Corp. (NORLIC) ownership in October, after which the land bank undertook trash removal and readied them for sale.
The properties were officially listed earlier this year and were purchased by Buffalo-based Blue Eagle Realty and its partner Creation Properties. Matt Chavez, NORLIC’s project manager, said Blue Eagle purchased the 70th Street property for $6,000 and the 18th Street property for $12,000 and the company has committed to investing $50,000 and $89,000 to make them habitable. Each house will be sold to a family that wants to live in it; they will not be rental properties.
Niagara County Legislator Chris Voccio, who is a NORLIC board member, said the sale of those properties is a blueprint for a path forward in revitalizing neighborhoods.
“NORLIC has the ability and authority to meet with those who have an interest in any of these properties to review their plans and get commitments on timetables and so on,” Voccio said. “In that way, we can avoid those who want to speculate on property rather than make investments in our neighborhoods. This may be only two properties, but this is the blueprint for how you begin to revitalize neighborhoods plagued by the blight of abandoned properties.”
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