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Available_Ratio8049 t1_jdxwk51 wrote

From city gov website:

"As of February 15, 2022, there areĀ 14,989 vacant propertiesĀ and only 1245 of those are owned by the City government. Properties that are privately owned must go through due process before the City can act to demolish those properties or make plans to take ownership and bring them back into productive use."

So, let's assume that to renovate or demo/rebuild those properties costs on average around $100k to $500k each, for an avg of $300k each, you'd be looking at around:

$4,500,000,000

Aka $4.5 billion.

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ConcreteThinking t1_jdzic1a wrote

And there is the cost of interest on the debt and the little problem of finding someone to buy them. I don't think there are 14,000 homebuyers waiting to buy a renovated rowhouse for $300,00 in the city neighborhoods where the vacants exist. A few of them on the edges but not 14,000 of them.

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