I am currently living in the Garden District neighborhood on Youngstown's lower west side, and I'm serving as treasurer for our neighborhood group.

http://www.youngstown2010.com/neighborhoods/west/garden_district/13_garden_district_neighborhood_aerial.jpg

 

Our group has recently taken the first steps to make our neighborhood an arts district.  We are seeking at least 10 artists who would be interested in moving into the neighborhood, and we will be working with the city to get some of the vacant properties (both residential and commercial along Mahoning Ave.) for the artists to live and work.  They will have the choice of renting, renting to own, or buying outright, all at a discount price. (a couple of the properties we're looking at are already for sale for less then $10k, and appear to need only minor work)

 

As some may also remember, I've been looking at some of the grand old houses on the north side of Youngstown, in the neighborhoods surrounding Wick Park, in hopes that I could acquire one and restore it.

http://www.urbanohio.com/forum2/index.php/topic,18327.0.html

 

At our arts district meeting yesterday, I learned that Youngstown has about $2.7M in neighborhood stabilization funds.  Of this, about $400,000 has been set aside for rehabilitation.  The remainder is for acquiring foreclosures to put the houses back into circulation, and demolition.  Both the Garden District neighborhood and the neighborhood to the east of Wick Park have been designated target neighborhoods where these funds are to be focused.

 

Here's my dilemma: the folks at the meeting yesterday want the $400,000 to go to our neighborhood, of course.  And, their logic makes sense; our neighborhood is a better investment of those funds.  In the Garden District, $400k could rehab 30-40 houses.  In the Wick Park neighborhood, $400k could rehab 5-10 houses.  This is because the Garden District neighborhood has historically been just a middle class, working neighborhood, and has remained stable.  The north side neighborhoods have a greater cultural and architectural heritage. (bigger, more elaborate houses) But because of their size and location near YSU, they were converted to multi-unit rentals, and have seen minimal care for the last 20-30 years.

 

I'm not really looking for advice.  But I'm interested to read what others think about this situation.

 

Maybe it's good that these funds wouldn't be used for the grand old houses on the north side?  If the city is paying for the work, these houses might have to be completely gutted (destroying any remaining character) to bring them up to code.

What is the nature of the rehab that you'll be doing? 400k for 30-40 houses is not very much per unit.

^ I'm being a bit free and easy with my numbers.  On average, I'm guessing most vacant houses in my neighborhood need between $10-20k for rehab.

 

Also, I don't know how the city will spend its $400k, but I probably won't have anything to do with it.  Maybe they'll bid the jobs similar to demolition jobs?

^ I'm being a bit free and easy with my numbers.  On average, I'm guessing most vacant houses in my neighborhood need between $10-20k for rehab.

 

Also, I don't know how the city will spend its $400k, but I probably won't have anything to do with it.  Maybe they'll bid the jobs similar to demolition jobs?

 

10-20k is a really lowballing the numbers. That doesn't even sound like enough to bring a home up to code.

I guess it depends on what will be done to the houses.  Even the houses currently for sale for under $10k in my neighborhood generally only need some TLC to make them habitable.

 

Here is an example, one of the houses we're looking at:

http://www.gmaceatongroup.com/listings/detail.php?lid=46567385&limit=0&offset=0&&&posc=2&post=125&cfq=searchtype%3D1%26radarea%3D4%26startnewsearch%3D1%26searchtypesent%3D1%26property_category%3D1%26state%3D39%26zipcode%5B%5D%3D44509%26yb_l%3D0000%26yb_h%3D2009%26restype%3D1%26vtycount%3D2%26limit%3D10%26b_x%3D24%26b_y%3D13%26sort%3D2%26SRSearchDate%3D1249059040%26SRRecordCount%3D125%26SRPage%3D1%26SRPageCount%3D13%26SRPageLinks%3D6

 

Sure, the kitchen is ugly as sin, but could be brought back to working order relatively easily.  And, we aren't shown a picture of the bathroom.

 

It does depend on what must be done with that $400k.  I'm just saying that, becasue the houses in the Garden District are generally in much better condition than the houses near Wick Park, the money will go further here.

I guess it depends on what will be done to the houses.  Even the houses currently for sale for under $10k in my neighborhood generally only need some TLC to make them habitable.

 

Here is an example, one of the houses we're looking at:

http://www.gmaceatongroup.com/listings/detail.php?lid=46567385&limit=0&offset=0&&&posc=2&post=125&cfq=searchtype%3D1%26radarea%3D4%26startnewsearch%3D1%26searchtypesent%3D1%26property_category%3D1%26state%3D39%26zipcode%5B%5D%3D44509%26yb_l%3D0000%26yb_h%3D2009%26restype%3D1%26vtycount%3D2%26limit%3D10%26b_x%3D24%26b_y%3D13%26sort%3D2%26SRSearchDate%3D1249059040%26SRRecordCount%3D125%26SRPage%3D1%26SRPageCount%3D13%26SRPageLinks%3D6

 

Sure, the kitchen is ugly as sin, but could be brought back to working order relatively easily.  And, we aren't shown a picture of the bathroom.

 

It does depend on what must be done with that $400k.  I'm just saying that, becasue the houses in the Garden District are generally in much better condition than the houses near Wick Park, the money will go further here.

 

Have these places had home inspections, look at the house you have no idea what going to happen until an inspector come out.  10k alone might fix the roof.

I'm just saying that, becasue the houses in the Garden District are generally in much better condition than the houses near Wick Park, the money will go further here.

 

Have these places had home inspections, look at the house you have no idea what going to happen until an inspector come out.  10k alone might fix the roof.

 

Let me be more conservative, then.  That $400k could do 4 houses in the Wick Park neighborhood, or it could do 10 houses in the Garden District neighborhood.  Now, on the north side, 4 houses is just scratching the surface. (I'm still very interested in finding myself a house to restore in the Wick Park area!!!  That's why I made this thread.  I don't want to give up on that neighborhood.)  But, fixing 10 houses in the Garden District would have a much bigger impact because there aren't as many houses in that kind of terrible condition.

Money does go a lot farther in Youngstown than it does in Cleveland. A lot farther. Hence why we decided to get married at Mill Creek park and have the reception right outside of Youngstown rather than in my wife's native Cleveland area.

 

To JRC's questions. As much as I love the Wick Park area, if we are talking about only $400,000 I think that it would be better spent keeping an intact neighborhood such as the Garden District a viable neighborhood in the city. The problem with the Northside is that it was built for well-off people and will need the cash of well off people, probably from outside the city, to see a full rehabilitation.

 

The other thing is the housing stock in the Wick Park is more deserving of a true restoration, which gets expensive fast. While you can probably do more rennovating in the Garden District which will get you more bang for your buck.