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City starts buying up foreclosed properties
By adamg on Sun, 02/15/2009 - 9:10am
The Herald reports on a Boston de-blightification program: The city will buy up foreclosed multi-family properties, then use federal funds to offer grants to vetted non-profits and developers willing to buy and fix up the buildings. Starts with seven foreclosed buildings in Mattapan, Roxbury, Dorchester and East Boston.
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Comments
city not a very good property owner
Unfortunately the city is a pretty bad property owner, the last to shovel and the last to clean up its lots, the first to throw up a chainlink fence around the lot that gets all bent and abused.
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Vetted = favored
I'm sure the "vetted" non-profits and developers will be able to rehab a three-decker for the low price of $800,000 or so, unlike a nasty house-flipper who will low-ball it and get it done for $300,000.
What about home buyers?
Will individual homebuyers be offered the same deal as developers and nonprofits?
"Some animals are more equal
"Some animals are more equal than others."
simple answer
Will individual homebuyers be offered the same deal as developers and nonprofits?
No, you have to be connected.
Actually
The city does have several efforts to help individuals buy affordable homes, including foreclosed ones and the artcle in the Herald mentions that some homes will be sold to individuals.
I know it's easier to just say things like you have to be connected but if you want to be connected then look into it. They have workshops for individuals & info on the city website.
e.g.
Boston Home Center