Rock Island to sell single-family home lots for $5
The City of Rock Island is looking to revitalizing some existing neighborhoods and they are offering incentives on 27 lots.
The empty sites sit in four different wards. Anyone who can secure the finances to build a new home is eligible to buy one.
“The lots we've chosen now fit in well with our plans for redevelopment,” said Director of Community Development Chandler Poole.
There are some strings attached to the deal. The home has to be built within six months and the owner must live in the home for five years.
“What we want to do is we want to have homes for people,” Poole said. “We don't want somebody to just buy these for five dollars, build a house and rent it.”
Poole says this is a way to invest in the neighborhoods.
“We see this as seeds in order to grow some real good pride, some opportunity within areas of the city,” Poole said.
The city plans to help prospective homeowners on the way. June 12, the city is planning a housing fair. It will feature bankers, builders and city staff who can help people determine if this is the right option for them.
You can find more information about the program