For Sale: Euclid’s 25th Neighborhood Stabilization Program House
Since 2008, the City of Euclid has acquired and rehabilitated 25 homes through the Neighborhood Stabilization program (NSP) administered by the U.S. Department of Housing and Urban Development (HUD).
The latest home to be transformed hit the market in December 2016 listed at $166,800, the price at which it appraised. On Tuesday, December 13th Mayor Holzheimer Gail joined city officials and Euclid residents at an open house to celebrate the program milestone and to tour the terrific renovation.
Old world meets 21st century living in this home. The four-bedroom, one-and-a-half bath Tudor-style Colonial on East 212th Street boasts incredible curb appeal, Energy Star appliances including a new hot water tank and furnace, a new roof, a new two-car garage, kitchen, baths and so much more. Constructed in 1929, care was taken to restore the ornamental wood trim and floors, built in drawers and cabinets and the wood shake on the front façade.
The home sits north of Lakeshore Boulevard where Beach Club membership is optional. It is situated just blocks from downtown Euclid restaurants and shops and nearby Euclid Hospital. Easy access to schools and parks, as well as Interstate I-90.
Marty Castelletti, Manager of Neighborhood Development in the City of Euclid’s Planning and Development Department, oversaw the acquisition and renovation of this home. Residential renovations are “part of our ongoing efforts to stabilize and revitalize neighborhoods and highlight the unique housing stock Euclid has to offer,” Castelletti commented during the open house.
Congress established the NSP for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized.
The NSP requires their homes be sold to first-time homebuyers with an income not exceeding 120% of the area median income. Qualified applicants are eligible for up to $10,000 in Down Payment Assistance. The purchaser is also required to complete a minimum of 8 hours of housing counseling. Interested buyers should contact realtor Annabelle Neshkin of Century 21 Homestar at 440.358.0247.
Allison Lukacsy-Love is the Community Projects Manager at the City of Euclid. You can reach her at (216) 289-8160 or by email at firstname.lastname@example.org