A ribbon-cutting ceremony was held on Thursday, May 3 to commemorate the completion of Phase 1 of the Bonvue St. Revitalization Project in Observatory Hill
By: NSC Staff
On Thursday, May 3 Observatory Hill Development Corporation announced the completion of Phase 1 of the Bonvue Street Revitalization Project.
The project has led to the renovation of five single-family homes in Observatory Hill. Instead of tearing down the buildings the multi-group effort helped rebuild the homes at 23, 29, 34, 111 and 115 Bonvue St. and offer affordable housing for new homebuyers. So far three out of the five properties have been sold with purchase costs ranging from $165,000 to $200,000.
The homes were renovated by Vince Finizio of VAF Architecture with the goal to preserve the historical character of Bonvue St and the surrounding neighborhood. Each property includes at least 3 bedrooms and 1.5 bathrooms with remodeled kitchens and refurbished hardwood flooring. The Urban Redevelopment Authority (URA) helped provide additional assistance for potential homebuyers with upwards of $30,000 in deferred second mortgages.
Phase 2 of the project will help renovate four new properties on Bonvue St. and will commence in early summer. For more information on the project visit Observatory Hill Inc., website.
Funding for the project was provided by the URA and Slovak Savings Bank (SSB) along with the support of the Northside Leadership Conference, Northside Community Development Fund, OBI and Rivers Casino.