It wasn't long ago that you couldn't touch a new home in Shaker Heights for less than $300k. That is, if you could find one; in those bygone days, new single-families and condos in this historic, built-out community were scarce, and so was buildable land.

Enter the housing crisis and 2008 recession. Since the dawn of these twin apocalypses, the City of Shaker Heights, which has a reputation for being proactive about the upkeep of its housing stock, has acquired dozens of buildable lots. The city began placing these lots, which came into their hands when empty, foreclosed homes suffered the wrecking ball, into their land bank several years ago.

Now, as Cleveland's post-crash housing market gradually emerges from its stupor, one urban-savvy home builder is working with the city to build new, moderately-priced, green homes on three of its vacant lots.

"We're building Shaker-quality homes on the city's empty lots," says Joe Del Re, Project Manager with Zaremba Homes, a company that has been building homes in Cleveland and inner ring suburbs for 20 years. "They'll have hardi-plank and scalloped siding and other details that fit in with the surrounding community."

The new homes, which will be located on Strathavon Road in the Ludlow neighborhood, will be reasonably priced at $150,000 thanks to a grant from the county's Neighborhood Stabilization Program (NSP). Del Re says the program has made it possible for Zaremba to break ground on the spec homes.

The new, 1,600-square-foot homes will also feature three bedrooms, two and a half baths and green, energy-efficient amenities. Qualified buyers within income guidelines can also obtain a 20 percent, forgivable second mortgage.

Source: Joe Del Re
Writer: Lee Chilcote