Had the two houses been moved to the 3400 block of 1st, the estimate was they’d sell for $120,000 and $140,000. The costs of the move and bringing the houses up to code, they would have required about $100,000 worth of subsidy ($50,000 per 3-bedroom house). Another way to think of it is the two lots would have been filled for $100,000 – and both houses would have been priced below market rate (affordable to those with 60-80 percent of metropolitan median income).
PPL’s estimate for new construction at 3700 Stevens is $185,000 – but to sell the house for anything less, there would have to be subsidy from the neighborhood or some other source.
David Brauer
President, Kingfield Neighborhood Assn. Board
PS I’m told the house issue is no longer on the CRA agenda.
on 4/22/02 8:15 AM, Brown, Terrell at [EMAIL PROTECTED] wrote:
I'm curious. What does it cost to move a house? I presume there are some costs that exist no matter what the moving distance is (raising it off its foundation, loading it on to whatever has the wheels, lowering it in the new location) and some that vary somewhat with the distance being moved. In this case 38th and Nicollet to 37th and Stevens is a reasonably short move.
How does moving cost compare with new construction? Can you park a house somewhere while you are waiting for the new basement to be dug and built? If the house is parked, does the lower part deteriorate because its not protected by the basement?
Is the market value of a house that has been moved any different than the same house built on the location?
Since we don't see houses moved all that often, I was wondering how the economics work out.
Terrell Brown
Loring Park
terrell at terrellbrown dot org
-----Original Message-----Any update on the Ace Hardware Houses, those at 3817 and 3821 Nicollet Avenue that will be demolished if not moved? Looks like an agenda item today for the Community Development Committee is the Hennepin County HRA may take the initiative and move the houses, one to 3700 Stevens Avenue, the other to an as yet unknown county lot. It's my understanding that the lots the Lyndale Neighborhood Development Corp had in mind have some real soil remediation issues, preventing LNDC from moving the houses.
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Gregory Luce
Sent: Monday, April 22, 2002 7:15 AM
To: [EMAIL PROTECTED]
Subject: [Mpls] The Ace Hardware Houses
Gregory Luce
Project 504/Minneapolis (North Phillips)
