Look for four new houses to come up for sale in the Hill soon as part of a neighborhood revival effort.
The Board of Alders Community Development Committee voted unanimously Tuesday night to authorize the Livable City Initiative (LCI) to sell the four properties, at 129, 134, 193, and 201 Putnam St. The matter now advances to the full Board of Alders for final approval.
The houses, which cost $450,000 to build, will sell at $250,000. They’re the latest homes to come online in a street with beautiful but neglected old homes that LCI seeks to replace or revive and put in the hands of homeowner occupants. Click here for a story about the street’s rebirth.
“We’re looking for structures that people want to stay in,” LCI Deputy Director Catherine Carbonaro-Schroeter said Tuesday night. “They buy them, and they grow as a family.”
If the city spent $450k to build houses, why don't the offer them to anyone bidding at market rates? Wouldn't the highest payer be the most stable for the neighborhood?