Open houses showcase 11 Louisville Landbank homes listed for $1

LOUISVILLE, Ky. (WDRB) -- A $1 price tag brought out hundreds of people Tuesday to several abandoned homes in west Louisville.

The city's "Landbank-a-Rama" event kicked off Tuesday in the Portland neighborhood. Interested buyers and developers visited the following properties available to purchase for just $1"

2513 Rowan St.
225 N. 19th St.
330 N. 23rd St.
3504 Main St.

The event is part of the city's efforts to revitalize communities plagued by abandoned properties. Charles Scott, a general contractor who grew up in the west end and now rehabilitates homes in the community, visited several homes Tuesday to see how much work they need.

"A lot of these old properties here, they just need love," Scott said. "I remember these houses when I was a kid. I had an uncle who lived around the corner, and these houses were beautiful at one time."

The city is hoping the people who buy the homes will see the beauty beyond the boarded up windows and broken bricks. Buyers need to prove they've got the vision and the money to transform them.

"It's not about the dollar cost," said Tia Bowman, executive administrator for the Metro Office of Community Housing and Development said. "It's about what you're putting into this property. It's about the amenities, the features in this property. It's going to be about what you list this property for."

The homes featured in open houses this week are some of the most blighted on the block and will require a lot of work. When applying, buyers need to show proof of funds, submit construction plans and agree to complete the work within 12 months. Developers who already live nearby, plan to live in the home or plan to rent it or sell it at an affordable rate will receive priority.

"We want to revitalize the block," Bowman said. "We don't want to gentrify it. We don't want to move people out or displace people."

Metro Councilwoman Tammy Hawkins, D-1, wants people to know about other resources available to those interested in these properties. The Small Developer Loan Pool, for example, offers partially forgivable loans to help these rehab projects succeed.

"I think it's important that people invest back in their communities," Hawkins said. "There is some red tape for these large developers. They can't just come in and purchase these homes."

The even will continue Wednesday and Thursday at the following properties. Each is open from 12-2 p.m.:

Wednesday, Aug. 27 — Park Hill, Parkland, and Chickasaw Neighborhoods