Money lots

Derelict houses, dormant factories, moribund strip malls, and other types of vacant and abandoned properties are among the most visible outward signs of a community’s reversing fortunes.these vacant and abandoned properties are more than just a symptom of larger economic forces at work in the community; their association with crime, increased risk to health and welfare, plunging property values, and escalating municipal costs make them problems in and of themselves, contributing to overall community decline and disinvestment. This is unfortunate problem that the city of Chicago is facing right now.

To counter this huge issue, the city of Chicago has implemented a great program, called “ $1 Large Lots”. The “$1 large Lots” allows people to buy lots for only one dollar in the West and South side of Chicago  This program would  help  the city solve its issues if empty lots and help the city’s urban  sustainability. By making land that was once empty into land that can be used to help the community income value, by providing taxes.

 

 

https://www.largelots.org/about/

Emanuel selling 4,000 vacant lots in 33 neighborhoods for $1 each

Emanuel selling 4,000 vacant lots in 33 neighborhoods for $1 each

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3 thoughts on “Money lots

  1. I think you chose a great topic. Driving through low income neighborhood, it is easy to see how desolate some of them are. This initiative that the city of Chicago has created may have a great effect. However, I think it’s important that citizens be cautious that this program does not create gentrification. For these cheap prices, realtors may attempt to redevelop areas, which could push some of the citizens out of the area.

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  2. I read an article about this a few months ago when it was first announced, and I thought it was an interesting way to bring in individuals or families that make an average income move into the west and south neighborhoods that have so much vacant land.

    Although gentrification in always looked at as a bad thing, is it really all that bad? To an extent in my opinion. You cannot rebuild a depressed neighborhood without having to build infrastructure that will increase the value of everything in the environment. But it is really about how much everything goes up. There has to be a balance, and that is the biggest challenge for Chicago; There is no balance.

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  3. I like this idea, I believe selling the lots for one dollar is a great way to put them to use, but I do hope they are going to buyers who have sustainable plans for the property. Such as building green infrastructure or green spaces. A lot of low income areas are missing that sort of green love. Gentrification is completely BAD, it strips neighborhoods and people of their culture and literally uproots them forcing them out to other desolate areas. Simply bring businesses like community centers, grocery stores, schools, and indoor or outdoor community gardens could improve the living environment without changing it completely.

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