(01/24/13) - Last week, we told you how Saginaw is busy knocking down abandoned homes as a federally funded program to revitalize neighborhoods is winding down.
That program also allowed the city to rehabilitate homes and resell them. The city has fixed up about 60 homes, and two are left for sale.
1801 Benjamin is one of those rehabilitated homes, and it's on the market for $20,000. It cost a lot more to renovate the house, but the city says it's worth it.
The home sits on the west side of Saginaw, just a few blocks from Covenant Healthcare. It was scheduled to be demolished, but through the Neighborhood Stabilization Program, the city fixed it up.
"Deconstructed it, removed all the environmental issues," said Terry Collier, Saginaw's construction specialist.
New floors, fresh paint, energy star rated appliances - this home is like new, but so far, no buyers.
"This particular house comes with two lots," Collier said.
Collier says even though the rehabilitation of the home cost $140,000, the program created jobs and is helping change the image of the city.
"This isn't just buying a house, fixing it up and selling it, what we are doing is revitalizing the neighborhood. Not only did it increase the value of this home, it increased the value of other houses as well," he said.
Courtney Martin lives in a rehabilitated home on Congress with her two children.
"It was a little stressful because there were certain things I had to do, certain criteria," she said.
The working mom became a homeowner in August, a status she wasn't sure she would ever achieve.
"I love it. I have a backyard for kids to play in, our own space, nothing like it," she said.
"I think we've made a tremendous difference in the look of the inner city," Collier said.
So how much would a homeowner's payment be on that Benjamin home? On a 30 year mortgage, plus insurance and taxes, the monthly payment would be about $220.
ABC12 Main Station