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FerrariEnzo

Cleveland: Has anyone bought a city land bank property?

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Hey all! 

 

I am interested in potentially building a home in the city and wondering if anyone here has bought a vacant city landbank property to develop?  I understand that it is wise to work with the relevant CDC and Councilperson and that the site plan should be in accordance with the citywide plan and local zoning etc.  I understand and have read a good chunk of the regulations and bylaws, so at this juncture, I would love to know if anyone has done this in actuality or knows someone who has done so themselves.  It has been a dream of mine to own single family in the city (I have been living in Slavic Village duplex off Warner Road the past few summers) and could use some pointers.  Specifically looking at Hough, so if anyone knows anyone there, let me know!  It seems the only information I can find on the CDC there are some articles from 2015 complaining about its lack of transparency under TJ Dow who has since been voted out of office.  Maybe the new councilman, Basheer Jones, will be better.  He certainly seems motivated and has a positive attitude.  Thanks! -holden

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I worked on several landbank owned parcels back in 2010-2012 that were redeveloped.  All were on commercial strips and had environmental issues, old fuel tanks, soil contamination.

 

Not trying to scare you but just be ware.  Engage a good firm for Environmental Phase 1 & Phase 2 if needed.  Make the sale/transfer contingent on clean site.  If prior use was residential, good chance you may find an abandoned septic system too or most likely a basement that was improperly backfilled & still has foundations below grade.  Ideally you should get the site for free so long as you have a good plan for reuse.  Plus you should get tax abatement for 15 yrs going forward.  Good luck & keep us informed!

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