ZANESVILLE, Ohio – It seems like many structurally sound older homes get torn down once they become abandoned and a local group is looking at other more affordable alternatives.
The Muskingum County Land Reutilization Corporation Executive Director Andy Roberts explained how rehabbing homes can be a much more time efficient and cost effective way to provide affordable housing and neighborhood revitalization, rather than demolishing and rebuilding.
“The main goal for the Muskingum County Land Reutilization Corp, better known as the Land Bank is to take tax delinquent properties that are usually distressed and put them back into productive use,” Roberts said. “So around the end of last year, the Land Bank took ownership of 430 Luck. We sought someone to rehabilitate it and that’s where Terry came in and put a bid in on the property and was able to get it. It was in pretty bad shape when he got it but structurally it was sound.”
FTM Property Resources Owner Terry Bocook mentioned that revitalizing homes was his company’s bread and butter and described the efforts put into rehabbing the structure.
“We contacted Andy, put in a bid as he said, and purchased the place for around $9,000. Then put about $30,000 or $40,000 in materials and labor, and the house has now sold for $101,000,” Bocook said.
Affordable housing is in strong demand throughout the city and the Luck Avenue property is one of a handful of properties that are being revitalized to provide it.