Blass Construction and Remodeling has finished renovations at Jefferson Manor.
Precious Grundy | The Lima News
LIMA — In October 2022, a local business purchased over 40 properties to aid in restoration. The neighborhood, Jefferson Manor, is now transformed and fully occupied.
“Our basic business model is to buy distressed properties,” Partner of Blass Construction and Remodeling Michael Blass said.
The homes were purchased for $3.5 million. The company has additionally invested over $2.4 million to revitalize the homes. The properties are located along Catalpa and Holmes Avenues and Sugar Street.
“One of the advantages that we have when we can do things of this scale is that we can create a new neighborhood,” Blass said. “Our job is to give people at all income levels safe, sanitary housing. The other part of our job is to displace people who can’t be good neighbors or good tenants.”
Blass said the business does have a waiting list of ready occupants. The company also hopes to work on other projects but plans to manage their properties until the time is right.
“Each home has been renovated and modernized,” Blass said. “The two-bedroom unit is $895 per month. The three-bedroom is $995 per month. In today’s market that is not extremely high and very affordable.”
Blass also said the company has almost a dozen MET tenants and 50% of their tenants are Haitian. The homes are not tax supported or subsidized. Blass said each tenant must pay the market rate, have a job and meet the income requirements.
“Nobody is living here that is not qualified to live here,” Blass said. “Other than our MET tenants, we require proof of income. A person’s rent amount cannot be more than 30% of their monthly income. (Jefferson Manor) is privately funded, profitable and good for the community. Other people can do the same thing. Lima is ripe with opportunity.”
For more information visit allencrossing.com.
Reach Precious Grundy at 567-242-0351.
