Three New Developments To Watch Along The Ohio River

Shell

Shell faced questions this week at local and state hearings over the new petrochemical plant it plans to build northwest of Pittsburgh. Local officials asked the company about air and water pollution from the plant—as well as how noise, light and traffic will impact the surrounding communities.

Some nearby residents are concerned about how all these issues will impact their property values. But for commercial real estate in the region, one expert says Shell is bringing, if not a tidal wave, at least a “rising tide” of development. Dan Adamski, managing director of Jones Lang LaSalle, the real estate firm that represented Shell in purchasing the Beaver County site along the Ohio River, says the company chose this spot for a simple reason. “[It’s] primarily because of what’s underneath us—the Marcellus Shale. They like the location on the Ohio River.” Read more here!

http://wesa.fm/post/three-new-developments-watch-along-ohio-river#stream/0

New D.C. legislation will make it harder — and more expensive — for blighted property to sit vacant

DC Legislation

 

It may soon be more expensive — and more difficult — for a property owner to slowly sit on vacant or blighted property in the District. The D.C. Council will take a final vote Nov. 15 on the Vacant Property Enforcement Act of 2016, which was unanimously approved in its first pass by the council on Nov. 1. The legislation, introduced by Councilwoman Elissa Silverman , I-At large, and co-introduced by nine colleagues, would reduce the maximum amount of time a vacant property can qualify for an exemption from higher vacancy tax rates, close a loophole that allows continuous renewal of construction permits to qualify for tax exemptions and require owners of vacant properties to prove they are no longer subject to the higher tax rates. Read more here!

 

http://www.bizjournals.com/washington/news/2016/11/07/dc-legislation-takes-aim-at-blighted-properties.html

Zombie Homes Eat Millions in Property Values

Zombie properties along with bank and federally-owned foreclosed homes may have decreased property values by as much as $11 million in Monroe County and the city of Rochester, New York according to a new report released by the state Senate’s Independent Democratic Conference.

Poorly maintained zombie homes “are having a real impact on people who have had nothing to do with the foreclosure crisis,” said Klein. “These people are still being affected by these dilapidated properties.” Click here for the full story.

To Tackle Blight, Kansas City Will Crunch The Numbers

Tackling blight is expensive. Kansas City, Kansas, is betting that data can reverse decades of urban decay. The Unified Government hopes to address decades of neglect with money from Bloomberg Philanthropies’ What Works Cities initiative. The idea is to connect smaller municipalities with data tools that can help them govern better. The advantage to partnering with Bloomberg is Kansas City, Kansas, won’t have to develop its own infrastructure to fight the problem. It can borrow from what partner cities have learned. Click here for the full story.

L.A. to Convert Motel Units to 500 Apartments for Homeless Vets

The city of Los Angeles has approved a deal for nonprofit and private developers to convert “nuisance” motels into 500 permanent supportive apartments for homeless veterans, a major step forward toward developing large-scale housing for hundreds of homeless veterans. Advocates say about 2,700 homeless veterans remain in the county, despite an intensive drive by local and federal officials.

Under the deal, developers will purchase underutilized, often run-down motels from private owners and convert them to efficiency apartments. The city’s housing authority will issue vouchers funded by the U.S. Department of Veterans Affairs, which will cover residents’ rent and provide supportive services, including case management and counseling. Click here for the full story.

Blight into Beauty One Chain Link Fence at a Time

The mayor of Imperial Beach, California has made it his mission to clean up neighborhoods by tearing down one rusty chain-link fence at a time. He is partnering with nonprofit organizations, such as one that uses sustainable construction techniques to create affordable homes, community centers, creative gathering spaces and other structures out of trash and recyclables, to develop abandoned sites into useful gathering places for the community. Click here for the full story.

Building a Big Dream on a Tiny Slip of Land

Three years ago, the Cuyahoga Land Bank in Ohio took over a tiny abandoned house on a 35- by 95-foot parcel in Lakewood’s Scenic Park neighborhood.

As the Land Bank razed the 348-square-foot house, cleared the property and laid grass seed, LakewoodAlive, a community-centered non-profit organization focused on maintaining vibrant neighborhoods in Lakewood, took notice. The parcel became part of a beautiful new 2-story home. Click here for the full story.