BEREA, Ohio — Metropolis-funded renovations of a former off-campus pupil rental residence are practically full, and the 115 Seminary St. residence will go up on the market quickly.
It’s positioned inside a designated Home Ownership Zone, the place newly rehabbed, city-owned houses might be bought with deed restrictions to ban them from turning into leases once more.
Residents living in neighborhoods near Baldwin Wallace University had been lobbying the city for years to alleviate problems originating from rental residence occupants and landlords. Points vary from noise to unlawful parking to poor exterior maintenance of the properties.
Different rental constructions slated for future renovations are positioned at 180 and 190 Beech St., 312 Eastland Highway and 106 Jacob St. The city allocated $100,000 specifically for rental rehab last year. Proceeds from the sale of the Seminary Road residence might be used to rehab the following rental.
“This seems like excellent news,” Councilman Jim Maxwell mentioned in regards to the potential residence sale in the course of the March 23 Metropolis Council assembly, which came about by way of video convention.
He requested Mayor Cyril Kleem if a purchaser had been recognized and if a Realtor can be concerned.
“We don’t have a purchaser in thoughts as a result of we’ve got to undergo an open course of,” Kleem mentioned. “There are events which have proven curiosity for fairly a while. We wish to deal with the sale in-house. I’m very, very assured, based mostly on the suggestions we’ve obtained, that this home will promote in a short time.”
Councilman Gene Zacharycz requested a couple of beginning value and title insurance. Kleem didn’t disclose a selected quantity, however mentioned there might be “a longtime value.”
“It’s not going to be one thing that opens it for low-ball bidders,” Kleem mentioned. “Like anybody who sells a home, we are able to settle for or reject a proposal. On this state of affairs, we’d carry that (title insurance coverage).”
Kleem hopes to have council members tour the renovated residence earlier than it’s bought.
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