New Land Bank Housing Coming To Morningside
4327 Three Mile Drive stands ready after being renovated by DLBA. Photo by Jim West
The Detroit Land Bank Authority (DLBA) is excited to announce the launch of a new pilot program in Morningside called "Rehabbed and Ready to Renovate." This program is a little different from its companion program, Rehabbed and Ready, which completely renovates vacant houses using philanthropic dollars, then sells them on the traditional housing market.
With "Rehabbed and Ready to Renovate," vacant houses owned by the DLBA will be partially renovated with all major components completed, including roof, foundation, windows, siding, HVAC, plumbing, electrical, etc., but listed for sale before the finishings have been completed. We hope this will give buyers an opportunity to complete the project on their own timeline and at their budget. We have been working with several financial institutions to make sure that our buyers will have access to financing on these purchases.
Both programs were designed to replace blight with occupancy, and to stabilize the housing markets in Detroit's neighborhoods. Our mission is to provide opportunity for new homeowners in the city, while creating value in the homes of long-time home owners.
Rehabbed and Ready has sold 67 properties in Detroit's neighborhoods. First-time homeowners make up 81% of our surveyed buyers, and 78% lived in Detroit before they purchased a home from us. Most of our buyers are families and make less than $60,000 a year. We strive to be an accessible access point for home ownership in the city.
We have funding to complete thirteen properties between Chandler Park Drive and Mack, and between Outer Drive and Bedford. We have completed two properties, on the 4300 block of Three Mile and the 5900 block of Courville. We are currently working on another home on the 4300 block of Three Mile. Another house at 4327 Three Mile is currently listed for sale and open houses are held every Wednesday (3pm-7pm) and Sunday (12-4pm). All are welcome to come and see our rehabbed properties!
Finally, we are in the process of hiring new general contractors for our program. All of our bids are posted on BidSync. The bid numbers are #19TM3522 and #19TM3510. The information is also on our website, https://www.buildingdetroit.org.
Please feel free to reach out to me with any questions about our program or houses. I look forward to meeting you all in person at the December 10 meeting of MorningSide Community Organization. My phone number is (313) 989-4602 and my email is sgargaro@detroitlandbank.org.