Troy Community Land Bank Takes on Three Vacant Properties

TROY, N.Y. — At its most recent board meeting, the Troy Community Land Bank (TCLB) Board of Directors voted to invest $1.1 million into the rehabilitation of three long-vacant properties in the City of Troy, signaling another major step forward in the Land Bank’s mission to return blighted structures to productive use.

According to a press release, the approved properties — 834 River St., 871 River St., and 3340 6th Ave. — will be transformed into quality residential and mixed-use housing options, creating a total of eight new units, including one commercial storefront. The average construction cost across the three projects is $138 per square foot, or $136,000 per unit — a reflection of the Land Bank’s commitment to efficient, high-quality redevelopment.

BENLIC Breaks Ground on Infill Homes

Mayor Christopher P. Scanlon today, alongside Erie County Executive Mark C. Poloncarz, the Buffalo Erie Niagara Land Improvement Corporation (BENLIC), and other local leaders, broke ground on a transformative housing initiative that will bring 47 new affordable single-family homes to long-vacant lots across the city. All properties will be reserved for income-qualified buyers, with a purchase subsidy to assist families achieve new home-ownership opportunities. 

The groundbreaking marks the start of construction on the first 47 homes, with properties being developed in the Riverside, Black Rock, Ken-Bailey, University Heights, Lower West Side, and Old First Ward neighborhoods. The $24.5 million investment, funded jointly through American Rescue Plan dollars from the City and County, represents the largest infill housing program Buffalo has seen in decades.

BENLIC Executive Director Jocelyn Gordon said, “This development of 47 homes is just the beginning: we’re excited to build on this momentum, sustain this program for the long term, and continue implementing solutions that create stable neighborhoods for City of Buffalo residents.”

Read the full story: https://www.buffalorising.com/2025/04/benlic-breaks-ground-on-infill-homes/

Dozens of new homes planned for vacant lots in poor Syracuse neighborhoods

In Syracuse, the Block-by-Block program has prompted a flurry of vacant land purchase offers in the past three months to the Greater Syracuse Land Bank. Nonprofit organizations focused on providing affordable housing are turning to the agency, which acquires, stabilizes and sells properties seized through city property foreclosures.

Since January, the land bank’s board has approved sales of more than 25 empty lots clustered on blocks in South Side neighborhoods and the Near West Side to nonprofits eyeing the new state program to fund single-family home construction.

The land bank has also entered into an agreement with Jubilee Homes, a South Side-based nonprofit economic development organization, to develop 10 two-family houses on parcels it owns on the Near West Side and fund the work with Block-by-Block grants.

Both areas of the city have been hit hard by the severe shortage of quality housing that’s also affordable to Syracuse residents. Mayor Ben Walsh’s administration launched a program in 2020 to get 200 units of new housing built on vacant lots in distressed areas of the city, and with a combination of local, state and federal funds, those goals have been reached five years later.

Read the full story: https://www.syracuse.com/news/2025/03/dozens-of-new-homes-planned-for-vacant-lots-in-poor-syracuse-neighborhoods.html

The Greater Syracuse Land Bank is partnering with Jubilee Homes to develop single- and two-family houses in the Near West Side area while also selling lots to Home HeadQuarters to build single-family homes. The organizations are pursuing grant funding from the state of New York so the homes can be sold at prices affordable to lower-income residents. (Greater Syracuse Land Bank)Greater Syracuse Land Bank

Block by block’: Four ‘Red X’ signs removed after building rehab in Troy

Troy firefighters take down a Red X sign on 3230 6th Ave. on Tuesday. (Erica Bouska – MediaNews Group)

By ERICA BOUSKA | ebouska@troyrecord.com

PUBLISHED: March 19, 2025 at 4:00 PM EDT

TROY, N.Y. — The Troy Fire Department took down four more “Red X” signs on several buildings in the city this week.

The Red X — which Deputy Chief Jared Barringer pointed out is actually a white X on a red background — denotes a building that is unsafe for firefighters or other emergency services to enter. Though some may be past saving, the Troy Community Land Bank and the city would rather repair the buildings than tear them down.

“To me, the benefit is more than just the bricks and mortar,” said Land Bank Board Chair Jamie Magur. “It’s recreating, restabilizing neighborhoods, creating opportunity, and stabilizing the future for the City of Troy.”

The cost to repair the buildings ranges from $7,500 to $40,000, said Brad Lewis, executive director of the Land Bank. But it can cost the city $50,000 or more to demolish a building, he continued. Then, the city owns another empty lot that isn’t generating revenue.

Many people see Red Xs and think the house is falling down or is condemned, but as Lewis explained, two of the structures at 3229 and 3230 6th Ave. just needed rear decks built. They are now both safe to enter and the Red X is gone.

Others, like 3209 and 3211 7th Ave. across from the Lansingburgh Little League, look like they are in bad shape, Magur said. However, it needed a new subfloor and floor joists and could be turned into homes or multi-unit apartments for local people.

“You’re gonna knock a building down ‘cause it needs a deck? That’s crazy,” Magur said, referencing the buildings on 6th Avenue. When talking about the one on 7th, he said, “It’s just neglect. Neglect and not the right vision for it.”

The rear deck built onto 3230 6th Ave. (Erica Bouska – MediaNews Group)

Lewis said the Land Bank focuses on stabilizing these structures and preventing a hazardous situation from occurring as it continue to decay and deteriorate. If a building has to be demolished, that fee goes on the owner’s taxes. If the owner doesn’t pay, the building is foreclosed, the tax base is lowered and the city has to swallow the cost themselves.

It can create a cyclical problem, he continued. Besides the finances of the demolishing, it also can hinder development in the area and drive down property values.

The city is struggling with housing stock and these buildings are worth more to the neighborhoods by staying upright, Magur said. Sometimes it does cost more to rehab them, but Troy’s historic buildings can’t be recreated. Additionally, the current cost to build a structure of that caliber would certainly be higher, he said.

As far as the opportunities for residents, Magur said they give owner-occupied priority before leaning towards any other options for the buildings. After Tuesday morning, there are 49 Red X buildings left in the city.

Tuesday’s buildings were funded by the Land Bank Initiative Phase 2 funding from New York State Homes and Community Renewal (HCR). They work closely with the Code and Fire Departments to determine what exactly needs to be changed, Lewis said.

The four Red Xs coming down were a culmination of a plan from this fall, Lewis said. Lewis and Magur said they also benefit strongly from the amount and variety of experience from reality to construction to history at the Land Bank and on their board.

Local officials watch as Troy firefighters take down a Red X sign at 3209 and 3211 7th Ave. (Erica Bouska – MediaNews Group)

“This project here,” Lewis said about 3229 6th Ave., “when we’re done, if we list it for sale or we take further development, either way, it symbolizes opportunity for somebody to potentially have two units of housing that’s already passed zoning and planning and everything else.”

Their projects generate taxes, as “evil” as the word might sound, Magur said. But it’s property tax and having a stable tax base can completely transform a neighborhood.

These properties and their taxes also create generational wealth, he and Lewis said. A lot of these places have good bases and the neighbors want to see them fixed up.

Magur pointed to the artwork on the boarded-up windows of the building on 7th Avenue. It was a range of designs with Spongebob, the Buffalo Bills and a living room with a Christmas tree. Someone spent money to do that because it’s such a cool building, he said.

“If you have the bones, which we have stabilized the bones, you put some love and care into it,” Magur said, “and then, you know, block by block the neighborhood comes back.”

Steuben County Land Bank Corporation Receives $1.95 Million Grant to Revitalize Communities

"It’s a testament to the hard work, vision, and dedication of the Steuben County Land Bank Corporation and our partner, Arbor Development. Together, we are tackling the challenges of blight head-on, investing in the future of our neighborhoods, and setting the stage for a more vibrant and thriving Steuben County,” said Chris Brewer, Executive Director of the Steuben County Land Bank Corporation and Deputy County Manager.

The money will help the land bank buy and rehab vacant and abandoned properties, attract new businesses and investment and improve the quality of life within Steuben County. Learn more here

Over $1.3 million awarded to build and rehab homes, tear down others in Allegany County

The Allegany County Land Bank now has more financial resources than ever before in its quest to improve the local housing stock.

The Lank Bank has been awarded a $1.365 million grant from New York State Homes and Community Renewal (HCR), the non-profit announced Thursday.

The grant will be used to enhance the local housing stock, eliminate blight through strategic demolitions, and partner with local organizations to create affordable housing for residents. The grant marks the largest award the Allegany County Land Bank has ever received through the state's Land Bank Initiative Program.

Learn more.

Governor Hochul’s Plan to Make Homeownership Affordable for New Yorkers

As her fourth proposal for the 2025 State of the State, Governor Kathy Hochul today proposed significant actions that build upon her ongoing commitment to addressing the housing shortage and increase affordability by creating more homeownership opportunities, and taking actions to protect housing affordability for everyday New Yorkers. Building on Governor Hochul’s historic $25 billion, five-year housing plan to create or preserve 100,000 affordable homes statewide, New York State has reached the milestone of creating 50,000 affordable homes within two years.

“The New York Land Bank Association enthusiastically supports Governor Hochul's ambitious response to challenges faced by homebuyers in New York State. The entry-level housing market is constrained by too few builders constructing starter homes, homeowners' reluctance to list their homes due to high interest rates, and private equity firms scooping up what little inventory is available, creating artificial scarcity. Those homes would historically have been purchased by families and have provided a path to grow household wealth. We applaud Governor Hochul for pushing back against venture capital and helping homebuyers compete on a fair playing field.”

Read the full press release here.

Blighted Red Carpet Inn Motel demolition work begins

The Broome County Land Bank purchased the motel in February 2024 for $600,000 in grant funding secured from the county. The funding source for professional environmental services and a majority of the demolition scope of work had been secured through Phase II of the New York State Land Bank Initiative program that was administered by the New York State Office of Community Renewal and funded through the New York State Housing Trust Fund Corporation.

The Town of Union is providing $70,000 in local entitlement Community Development Block Grant funds to help pay for the demolition of the blighted building.

Broome County Executive Jason Garnar said he’s most proud of the collaboration between several agencies, which streamlined this process.

“In terms of being able to acquire this property and have it be brought down, I’ve never seen something go so fast before,” said Garnar. “That’s a testament to the land bank that took the lead in doing this.”

Read the full story here.

Broome County Land Bank demolishes eyesore building next to public park

““It is very unfortunate because it is directly adjacent to the neighboring Hillcrest Park so on behalf of the land bank, we are just incredibly proud to be able to address blight in our community but with this one being right next to a park we’re just happy we going to be able to make an impact on the Hillcrest community and all the families and individuals who get to enjoy this park,” said Executive Director of the Broome County Land Bank Jessica Haas.”

Learn more here.

Syracuse land bank’s future home is historic mansion it’s been trying to save since 2018

www.syracuse.com; Jeremy Boyer; 2/1/24

“The Greater Syracuse Land Bank’s need for new office space may help finally launch a stagnant, state-supported renovation project at one of its high-profile historic properties.

Land bank officials embraced the idea of putting the organization’s headquarters inside one of the buildings it’s helping to save and return to productive use. It’s also within a neighborhood where the land bank has already put dozens of abandoned homes back on the tax rolls through sales to responsible owners.”

Binghamton invests $2 million in land bank rescue of blighted homes

The City of Binghamton is investing two million dollars in the rehabilitation of rundown properties, turning them into opportunities for first-time home-buyers.

The City is partnering with the Broome County Land Bank to fund the rehabilitation of the foreclosed and abandoned properties.

In the past, the municipality has worked with the property rehabilitation agency to oversee the demolition of properties the Land Bank had acquired. The Land Bank’s Affordable Homes Program has already fixed up four properties in the City.

Learn more here!

How Vacant and Distressed Homes Can Help Meet the Demand For Entry-Level Housing

Addressing the current lack of entry-level inventory isn’t quite as simple as building more houses. The construction industry is still plagued with supply chain issues which have only been exacerbated by the pandemic. The cost of lumber, which increased to a peak of 150% during the pandemic, has decreased over the past few months, yet it remains higher than pre-COVID-19 levels. In addition, since profit is a leading motivation for developers, they are not often particularly attracted by the low margin of starter homes.

Identifying, optimizing and financing these vacant and distressed properties requires processes, understanding and partnership as well as better capacity and capabilities to manage the growing inventory and assure it remains affordable over the long term. Educating the industry on options will also drive sustainable homeownership. While individual homes benefit a singular family, a broader approach may help the nation. Freddie Mac and partners are thinking outside of the box through solutions like land banking.

Land banking, a process for local governments and municipalities to manage properties that are vacant, abandoned or foreclosed, creating a programmatic approach to transform unused housing units into community assets and affordable housing stock. Freddie Mac is focusing on bringing this concept out of the corner and into the center of the housing ecosystem through partnerships with organizations like the Omaha Land Bank, through which innovative strategies are tested which convert vacant properties into community assets and homeownership opportunities for low- and moderate- income borrowers.

Learn more here!

Albany County receives $1.4M to rehab homes

ALBANY – Albany County received nearly $1.4 million in grant funding from the state that will go toward rehabbing homes in Albany's South End and supporting mental health services in the county.

The $1 million grant will go toward rehabilitating three Second Avenue homes. The two-family buildings are owned by the Albany County Land Bank. The plan is to sell the homes to first-time homebuyers with low-to-moderate incomes. The Land Bank will also pair qualified buyers with financial and educational resources designed to help more low-income families and individuals become homeowners.

Adam Zaranko, executive director of the Albany County Land Bank, said the grant will help create stability for the future homeowners and the neighborhood.

Learn more here!

Kirkwood eyesore to be demolished

KIRKWOOD, NY – An eyesore along Main Street in Kirkwood is finally coming down thanks to a partnership between the Broome County Land Bank and the town.

It has sat unoccupied since the 2006 flood and was damaged a second time in 2011.

Broome County recently foreclosed on the property for failure to pay property taxes.

Kirkwood Supervisor Lew Grubham and County Legislator Scott Baker had both approached the Land bank to see if it could help.

“We’ve had a couple of these properties over the last few years. One down on Five Mile Point nearby the railroad tracks that was a worse eyesore than this one. They stepped to the plate. I know they have a lot of projects to do so when you get one done in your town, you are really happy about it and thankful,” says Grubham.

The total cost of the demolition is $37,000 with the Town of Kirkwood chipping in 3 grand.

Grubham says most flood-damaged homes in Kirkwood were either repaired or took FEMA buyouts.

He says only a few small damaged river cottages remain.

The Land Bank also tore down houses on Route 79 in Harpursville and Nowlan Road in Hillcrest last week.

Learn more here!