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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.

Neighborhoods: 
Boston
Free tagging: 
foreclosure


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Comments

By EM Painter on Sun, 02/15/2009 - 12:23pm.

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.

By Brett on Sun, 02/15/2009 - 1:48pm.

'

By deselby on Sun, 02/15/2009 - 1:56pm.

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.

By neilv on Sun, 02/15/2009 - 5:53pm.

Will individual homebuyers be offered the same deal as developers and nonprofits?

By anon on Sun, 02/15/2009 - 6:08pm.

"Some animals are more equal than others."

By deselby on Mon, 02/16/2009 - 7:56am.

Will individual homebuyers be offered the same deal as developers and nonprofits?

No, you have to be connected.

By bph on Mon, 02/16/2009 - 9:50am.

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