163 New Listings – Kent County Land Bank
Feel like you just can’t find the right house for sale in this market?
163 new rehabs could be hitting the market later this year.
FULL ARTICLE: “[Kent County] Land Bank Has a Decision to Make”
EXCERPT from the Grand Rapids Business Journal:
“Grand Rapids City Commissioner James White voted with the majority last week to transfer and sell 163 tax-foreclosed properties in the city to the Kent County Land Bank Authority because the action would provide plenty of work for small construction companies and remodelers.
“Now it’s up to the KLCBA board members to put those firms to work.
“The land bank board will meet Wednesday to decide whether to enter into a purchase and development agreement with the city. If board members agree to buy all the properties — of which the vast majority are residential — the organization will have to pay the city $1.182 million for the parcels by July 19 and redevelop or sell all 163 within 18 months.
“KCLBA Executive Director Dave Allen told commissioners last week that could be done and he felt most would be sold by the end of the year.”
More info on Kent County Land Bank: http://kclba.org/