Ottawa Gets Funds to Redevelop Single-Family Homes
Last updated on May 11th, 2021 at 01:11 pm
We recently heard some excellent real estate news here in Ottawa!
According to a recent article I was reading, Ottawa was recently awarded $280,000 to purchase, demolish and redevelop uninhabitable vacant residential properties.
Evidently, this project could begin as early as later this year.
This is excellent news for all residents because it means that some of Ottawa’s worst abandoned and condemned homes will be replaced by modern properties.
Continue reading to learn more!
More Information on This Ottawa Real Estate Initiative
According to the recent article, The Blight Reduction Program was awarded funding by the Illinois Housing Development Authority.
Generally speaking, the Blight Reduction Program uses funds provided by the U.S. Department of Housing and Urban Development.
Locally, the funds will be administered thanks to a partnership between the city of Ottawa as well as the Starved Rock Homes Development Corporation, which is a non-profit organization affiliated with the La Salle County Housing Authority.
Experts believe the funds will ultimately be able to support 7 to 10 properties in Ottawa.
This program is sure to help with the overall image of the city of Ottawa and help revive some of those areas that are in desperate need of renovations.
This, in turn, is sure to help residents from all over the city!
We’re Your Dedicated Ottawa Real Estate Experts
We look forward to seeing the newly developed properties that come out of the Blight Reduction Program! We’ll be sure to keep you posted as we hear more about their progress!
We would love the opportunity to assist you by answering any questions you might have as well as providing you with some valuable insight on the local housing market.
Until next time,