Trenton initiative could sell vacant lots for just $1 to first-time home buyers

Trenton, NJ: A homesteading program is underway, as part of a five-point initiative to hinder growing problems with the city’s current 6,300 vacant lots. Part of the program involves an offer for people purchasing a home for the first time to buy city-owned property in redeveloped areas.

The vacant lot costs could run from just $1, to upwards of $10,000. The catch to the deals for such low-cost property would be a demonstration of financial viability for upkeep and development of said property as the person’s primary residence for a period of at least 10 years.

Other points of the city plan to get a handle on vacant property troubles involves an escalating fee vacant property registration starting at $250, and potentially exceeding $1,000. To handle those fees and other city issues, management would be put in place to handle the new vacant property division.

All city actions would be backed with market and demographic studies of “danger” areas that need boarding or immediate action, such as demolition of structures. Further information gather by the city can be found at: www.restoringtrenton.org

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