An update of the happenings at Cuyahoga Land Bank
Cuyahoga Land Bank News - 2013.4.1

"New" Modern Home for the Price of a Demo!

The St. Clair Superior Development Corporation (SCSDC) has undertaken a creative solution to breathe new life into vacant homes in their neighborhood and the Cuyahoga Land Bank is partnering with them to make it happen.
 Local developer Charles Scaravelli approached SCSDC with a novel idea – transforming the interior layout of vacant properties to create a wide-open, loft-style floor plan that requires less electrical, heating and duct work as well as far fewer materials for flooring, walls and other interior needs than a conventional renovation.house_drawing
“The question was: how much does it cost to demo a house in Cleveland?” says Michael Fleming, Executive Director of SCSDC. “It costs between $10,000 and $15,000 and Scaravelli approached us with his plan to renovate homes for the same amount of money. If we can bring a property up to code and make it attractive to prospective tenants, why tear it down?”
So SCSDC got to work, partnering with the Cuyahoga Land Bank, which transferred four homes to SCSDC that were structurally sound and approved by the development standards of Loft Home Builders, Inc.  Once completed, the renovated Loft Homes will be available to rent for about $500 a month.  loft_view
“We’ve recently finished the second home and there is already a waiting list,” Fleming reports.  “This contradicts the belief that there’s no demand for housing in the neighborhoods of Cleveland’s near east side – we just need to offer the right product.
The Cuyahoga Land Bank is partially financing the construction of the homes by placing a small mortgage on the property, payable once the property is finished and rented or re-sold.  After the mortgage is repaid, Loft Home Builders, Inc., which has up to two years to make such a payment, will take ownership of the properties.
“It’s a win-win-win all around,” Fleming says, “The project really shows the versatility of the Cuyahoga Land Bank and the creative outcomes that are possible for addressing Cleveland’s vacancy issues.”
The second Loft Home
was recently completed at 1526 E. 47th Street and is rented by tenants who are excited to be a part of the Loft Homes concept.
For more information on the Loft Home Rehabilitation Pilot Program, contact the SCSDC Housing Coordinator, Andrea Bruno at 216-881-0644 ext. 108.

Read more about Loft Homes in a recent article featured in the Cleveland Plain Dealer.

A Former Library Building becomes Home to a Child Care Center in Brooklyn

In late March, Brooklyn, Ohio residents joined the City of Brooklyn, the Cuyahoga County Public Library, Cleveland Tech Solutions, LLC and the Cuyahoga Land Bank in celebrating the grand opening of the Loving Cup Kids Academy of Brooklyn, a full time child care center making its home in a fully renovated, vacant former public library building on Ridge Road.loving_cup
Completing the center, which creates 15 to 20 new jobs and a wonderful space for children to learn and play, was a collaborative effort between the Cuyahoga Land Bank, the City of Brooklyn the Cuyahoga Public Library and Cleveland Tech Solutions, LLC.
Coming in on the ground level, the Cuyahoga Land Bank invested $20,500 in order to conduct an asbestos survey, perform minor demolition work and complete an interior cleanup of the space.  The Cuyahoga Land Bank also assisted the City in finding someone interested in the property.
The reward came in the form of a $400,000 investment, job creation and a new Montessori pre-kindergarten program and child care center that remains open 6 am to midnight, Monday through Saturday.
“I am pleased to welcome the Loving Cup Kids Academy to Brooklyn.  I am sure they will become a great corporate neighbor within the community.  I applaud their efforts in restoring a 20-year old vacant building and turning it into a child care facility. I also want to thank the Cuyahoga Land Bank and Cuyahoga County Public Library for participating in this project.  Without their assistance, this project would not have come to fruition,” said Mayor Richard Balbier.

Google Plus
Google Plus
Forward to Friend
Land Bank Properties

Bid on this House
Before April 22nd

This house at 5385 East 129th St in Garfield Heights requires minimal renovation and is available under the Owner Occupier Buyer Advantage Program.

Fun Fact!

The Cuyahoga Land Bank acquires on average 123 properties per month.

House available for Renovation

This house at 911 Englewood Rd in Cleveland Heights is available for renovation under the Deed-inEscrow program.

Did you know?

You can find previous editions of our newsletter on the Cuyahoga Land Bank’s website.  Select "What's Happening" and then select
"Publications and Reports."
Click here for the direct link.

House for Sale in Cleveland Heights

This Bungalow style house at 1176 Sylvania Rd was renovated in-house by the Land Bank and is for sale. For details on this property and a list of other renovated houses, visit our website.

The mission of the Cuyahoga Land Bank is to strategically acquire properties, return them to productive use, reduce blight, increase property values, support community goals and improve the quality of life for county residents.

Copyright © 2013 Cuyahoga County Land Reutilization Corporation, All rights reserved.
unsubscribe from this list    update subscription preferences