THE VISION ISSUE - City of Shaker Heights

REAL ESTATE NEWS
Real Numbers continued from page 13
LIST OF HOUSING TRANSFERS WITH A PRIOR SALE WITHIN 20 YEARS:
2836 DRUMMOND RD $530,000 $437,500 (1996)
18725 SHELBURNE RD $485,000 $280,000 (1993)
18411 S WOODLAND RD $570,000 $255,000 (1993)
3571 TRAVER RD $192,000 $129,500 (1993)
Information Source: First American Real Estate Solutions
2012 Preservation Awards
continued from page 13
SPECIAL AWARD – Preservation
Hero, Work in Progress
Saran Residence, Parkland Drive
The owners won this award in recognition
of the unique, heroic effort
required to undertake a renovation
project of large magnitude on a historic,
landmark-quality property.
Although much work remains to be
completed, with the purchase of the
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216.229.1600
Van Aken Center
20121 Van Aken Blvd., Shaker Hts.
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house the homeowners in effect rescued
the property from demolition.
The project includes the complete interior
and exterior renovation of an
abandoned, foreclosed home with 515
point-of-sale violations. The house was
designed by noted architect Monroe
Dean and built in 1931.
Nominate a Shaker
Restoration Project
The Landmark Commission is now
accepting nominations for the 2013
awards program through April 26,
2013. Exterior projects completed
within the last two years are eligible.
Nominations can be submitted for any
building in Shaker Heights, including
homes and apartment buildings, commercial
buildings and other structures.
Nominations should be submitted
by to the Shaker Heights Landmark
Commission. Contact Ann Klavora at
216-291-1436 or ann.klavora@shak
eronline.com for additional information
or a nomination form.
Three Properties to be
Renovated through City Programs
Qualified rehabbers are invited to participate
in the City’s two housing improvement
programs designed to encourage
the renovation of dilapidated
homes. The Shaker Renovator and
Private Purchase Rehab programs have
documented track records of successfully
restoring properties to productive
use. Two qualified rehabbers are currently
undertaking the renovation of
three properties in the City.
Joe Alberino, Alberino Construction,
will renovate 3381 Dorchester
Road. The renovation will be done
through the City’s Shaker Renovator
program, which encourages high quality
renovations of properties bought by
qualified rehabbers who then put the
property on the market.
In order to qualify, at least two renovation
projects must have been completed
in the City within the past 18
months. Qualified projects are ones
that include upgrades beyond the correction
of code violations, and where
the interior work meets Shaker’s quality
standards. Contractors who qualify
are permitted to put 100 percent of
estimated repair costs in escrow (as
opposed to 150 percent) and are not
required to submit interior drawings
unless structural changes are made.
Their projects receive free publicity on
the City’s website and here in Shaker
Life. Through the Shaker Renovator
program seven houses have been renovated
and sold for prices ranging from
$171,000 to $545,000. Each project,
on average, increased the property value
by 300%. To date the program has
added $1,568,500 to the tax base.
Scott Frey, Property Renewals, Inc.,
will renovate two properties at 16725
and 16633 Lomond through the City’s
Private Purchase Rehab Program.
Under this program, established in
2012, City-owned properties are sold
to rehabbers to transfer unproductive
property to reputable firms for rehab
and sale to owner-occupants. Typically
these projects are required to be completed
within six months. The transactions
are cost-neutral to the City. Frey’s
company has purchased and rehabbed
11 homes in Shaker to date.
Stay tuned for information as to the
completion and sale of these properties.
Contractors can learn more about
these programs at shakeronline.com/
live-in-shaker/incentive-programs/
shaker-renovator-program.
14 WWW.SHAKERONLINE.COM