983 sqft of blight in a blighted area with blighted factories and blighted homes. Forgotten you might say. Yours for $20K. Not interested? No one else is, either.
Nearby Houses:
None yet photographed. Please take a picture if you see one.
14 Gordon Ave
- March 19th, 2009
- Photog: Stump Blankenship
- Category: residential
It’s not that there isn’t interest–I wanted to purchase a similar home earlier this year and couldn’t. Banks won’t give loans to individuals or families if there isn’t working heat and basic plumbing in the structure. So you need to already have significant assets (i.e. tens of thousands of dollars, even if it’s only a few tens of thousands) to get in on these and then own it for a certain amount of time before you can get a bank loan to cover the money you laid out. You need the purchase price in cash plus about $30-50k in renovations costs–still a remarkably good investment considering we are talking about multi-family houses in the fabulous city fo Providence. So basically, only people who already have family wealth can be part of revitalizing their neighborhoods, which in my opinion is one of the reasons our old beautiful west side and south side and north end neighborhoods are stuck in the foreclosure rut with so little renovation action going on.
You’re right, EFB.
Many working families are interested in obtaining this forgotten homes, working hard to fix them up, and live in them proudly, but the re-construction funds are out of their means.
Specifically, the city of Providence and state of Rhode Island are both using federal stimulus funds to offer loan programs for houses in need of rehab, but in many, if not most instances, the subsequent rehab funds ON TOP OF what the bank/investor/absentee owner are already asking makes re-hab unaffordable.
My dad used to deliver oil etc to 10 Gordon. Was a dump full of cockroaches and stuff. I know, I used to work with him and installed the water heater in that house. Was about 7 years ago. This house 14 Gordon, their daughter and kids lived here. They were just as bad. House was just as much of a dump inside.
Dump area too. The weird zoning around here does no one any favors.
“Dump area too. The weird zoning around here does no one any favors.”
You forget how recent modern zoning really is, all of these neighborhoods were “old” before Providence adopted an extensive zoning ordinance. So called Euclidean Zoning wasn’t legalized by a decision of the Supreme Court until the 1920′s. For many decades it was still driven by its constitutional purpose, safety. “Side yards” were required to prevent fire spread, “lot size” was developed to be sure each lot could absorb its own sewage, etc. If you have a copy of the Zoning Ordinance, it will probably give the date of its adoption. I doubt Providence zoning became comprehensive until the 1960′s. If you tour Newport with Zoning in mind, you will notice that 3 deckers abut the rear of the Mansions. I doubt modern zoning would ever permit that, zoning is now “about” protecting property values.
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