New Initiative Calls for $7.5 Million Investment in Warrensville, Maple Heights, Bedford, Bedford Heights, and Garfield Heights
HIGHLAND HEIGHTS, Ohio, Feb. 6, 2019 /PRNewswire/ — The Abandoned Homes Project announced today that is has reached a memorandum of understanding to partner with Highland Heights-based real estate developer Smartland to acquire and renovate 100 distressed and/or abandoned properties in five Cleveland suburbs.
“We first saw Smartland’s abilities several years ago on a project they completed in Shaker Heights. While it is not our normal policy to partner with developers in lieu of causing the transfer of unproductive properties directly to individual homeowners, we realize that many of Cleveland’s 15,000 abandoned homes need too much work for a homeowner to handle. So, we are very pleased to now have a development partner that has the resources to take on these major projects,” said Donald Postway, a spokesperson for the organization.
“Smartland-renovated properties are definitely unmatched in the Northeast Ohio real estate market right now.. The skills and resources Smartland brings to the table are exactly what these communities need.”
The new partnership plans to begin acquiring properties in the spring of 2019. Residents, realtors, and city officials in these communities are encouraged to submit addresses of vacant, abandoned, and/or unkept properties that they would like to see purchased and renovated.
Addresses of abandoned homes can be submitted at https://www.ahponline.org by clicking the “Report Abandoned Homes” tab on the homepage or calling the Project’s Abandoned Homes Tip Line at 216.584.8170.
About the Abandoned Homes Project
Since 2015, the Abandoned Homes Project has invigorated the conversation about changing the way local governments, community development organizations, and residents of urban and rural communities impacted by the abandoned homes crises can work together to solve this critical social issue. We fight for fair and equal justice for owners of abandoned homes while simultaneously developing the technology platforms of tomorrow that will aid local governments nationwide in the fight against blight, increase incoming tax revenues, and predict housing vacancies before they occur. Local governments can learn more by visiting www.ahponline.org and clicking the blue “GOVERNMENT” tab on the home page.
Since 2007, Smartland has been one of Northeast Ohio’s fastest growing residential real estate developers. Smartland currently manages over 650 properties and recently completed the purchase of the 112-unit Breakwater Towers in Cleveland’s storied Lakeshore/Bratenahl district. More information is available at https:/smartland.com.
SOURCE Abandoned Homes Project