Press release from the City of Fort Wayne:
City Living open houses showcase renovated homes available for sale
Free scattered site tour Oct. 9-11 features properties part of Neighborhood Stabilization Program
Prospective homebuyers and those interested in seeing 8 renovated homes in various states of construction can visit the free City Living Tour open houses 6 p.m. to 8 p.m. Oct. 9 and noon to 6 p.m. Oct. 10 and 11.
The free scattered-site tour features homes being renovated by local builders who are participating in the Neighborhood Stabilization Program, a federally funded initiative to restore homes and revitalize neighborhoods hardest by the economic downturn.
The locations and the builders are:
- 2319 John St., Ideal Builders
- 2302 Florida Dr., Gerber Building
- 1903 Kensington Blvd., Gerber Building
- 2412 Gay St., Lancia Homes
- 1137 Rivermet Ave., Belay Builders
- 2429 Smith St., Miracle Builders Contracting
- 4502 Winston Dr., Gerber Building
- 533 E. Creighton Ave., Miracle Builders Contracting
A map of the homes’ locations is available on-line.
“Fort Wayne’s Neighborhood Stabilization Program has been a remarkable success, but I think it has been flying under the radar of most people. The program really has been able to take federal dollars and transform vacant houses into livable homes,” said Mayor Tom Henry. “This free tour will allow prospective buyers and those curious about our efforts to revitalize some of Fort Wayne’s core neighborhoods to see what is possible in this program.”
The houses are all for sale for between approximately $75,000 to $100,000 to qualified moderate- and middle-income buyers. Homebuyers in the program must meet income guidelines. For a family of four, that would be up to $73,000 annually. More information about program guidelines and restrictions is available at www.nspfortwayne.org or at the properties during the tour.
Focusing on vacant, foreclosed properties in selected locations, the $7 million for the local program blends the financial resources of the City of Fort Wayne with the talents of private-sector housing professionals – builders, developers, architects, designers, realtors, appraisers and lenders. The houses are then renovated for up to 150 percent of the completed appraised value. The buyers pay the appraised price.