There are no incentives that I am aware of for an individual or family to
come to the northside and make a sweat equity investment. When I bought in
March, I had heard of low-interest loans, grants, forgivable loan, etc. I
asked at the various neighborhood associations and all had run out. I am
doing this on my own. Also - no bank will lend money for a house that is in
the process of being rehabbed.
A block from where I bought my brick side-by-side duplex (18th & Dupont), a
“non-profit” had previously bought a brick fourplex for rehab (18th &
Emerson). Mine was in worse shape, being condemned and all pipes frozen. It
was also seriously vandalized. My house exterior is transformed, I have 2
new high-efficiency boilers, with a heating system zoned by radiator, all
new electrical with knob and tube ripped out, all new pex plumbing, several
new windows, a lush lawn, two new luxury bathrooms, one kitchen done,
several antique light fixtures installed, all walls patched and painted,
hardwood floors sanded, etc. etc.
The fourplex owned by the non-profit has not been touched, but has sat
vacant the entire time. A blight.
