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Open Door Euclid program reports four renovated homes sold above neighborhood averages
Summary
Staff told the board that four homes have moved through the Open Door Euclid program with about $199,000 invested; one recently sold for $250,000 and the average post-renovation sale price for the four homes is about $145,000.
Board staff reported an update on the Open Door Euclid program at the Oct. 14 Community Improvement Corporation meeting, saying four homes have moved through the program and the organization invested approximately $199,000 to improve housing stock.
Staff showed photos in the packet highlighting a renovated home on Alberton that recently sold for $250,000, producing a new owner-occupant. Overall, staff reported the average sales price for the four renovated homes is about $145,000, with variation driven by house size. Two side-by-side smaller units sold for between $85,000 and $95,000, staff said, which contributed to the $145,000 average.
Board members praised the outcome as a success for returning renovated homes to owner occupancy and raising sales values above neighborhood averages. Daniel Burns of EDCOR attended and was recognized by the board.
