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Thread: Funding aid for conversions of historic mansions from multi-family to single family.

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    Cyburbian michaelskis's avatar
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    Funding aid for conversions of historic mansions from multi-family to single family.

    Many older urban communities will have historic mansions that were constructed with the intent of being single family residential structures that have been broken down into several smaller apartments, but are legally nonconforming in a single family district.

    Does your municipality offer funding assistance for the conversion of these historic mansions back into single family residential structures? I know of some municipalities that will offer a match program or similar funding program for façade improvements, however what can be done for the interior of the structure. To me it would seem to be a win/win for those who want to buy these houses but can not afford the pricy conversion back into single family by them selves, as well as further installing the pride within a neighborhood that comes from having the structures being owner occupied.

    How does the funding programs for the national trust work? Will they assist in funding for interior single family residential structures
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    Unfrozen Caveman Planner mendelman's avatar
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    Quote Originally posted by michaelskis View post
    Many older urban communities will have historic mansions that were constructed with the intent of being single family residential structures that have been broken down into several smaller apartments, but are legally nonconforming in a single family district.

    Does your municipality offer funding assistance for the conversion of these historic mansions back into single family residential structures? I know of some municipalities that will offer a match program or similar funding program for façade improvements, however what can be done for the interior of the structure. To me it would seem to be a win/win for those who want to buy these houses but can not afford the pricy conversion back into single family by them selves, as well as further installing the pride within a neighborhood that comes from having the structures being owner occupied.

    How does the funding programs for the national trust work? Will they assist in funding for interior single family residential structures
    Checkout the program at the City of Elgin, IL

    Also, You are assuming that a multi-unit single family structure is not owner-occupied, which not always the case.
    I'm sorry. Is my bias showing?

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  3. #3
    Indiana has a rehab tax credit that can be applied to your personal dwelling (e.g., it does not have to be an income producing property as the federal credit does). From what I remember, it is grossly underfunded such that there's a long waiting line for folks that want to do this sort of thing.

    Banks often consider multi-family as "business properties" and can make getting a mortgage and rehab loan difficult because they don't understand that someone does not want the property for "business" purposes.

    BTW: the National Trust doesn't offer financial assistance. That program is through the national Park Service and your SHPO. It is a credit, not cash money up front.

    What's my community doing? nada
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    Cyburbian michaelskis's avatar
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    Quote Originally posted by mendelman View post
    Checkout the program at the City of Elgin, IL

    Also, You are assuming that a multi-unit single family structure is not owner-occupied, which not always the case.
    Does that use CDBG?

    Additionally, what are everyone’s thoughts on the theory that having clusters of multi-family rental properties in single family neighborhoods are viewed as a negative in the neighborhood as a whole.

    What problems beyond density and traffic does multi-family rental properties bring into a single family residential area.
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    Unfrozen Caveman Planner mendelman's avatar
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    Quote Originally posted by michaelskis View post
    Does that use CDBG?
    I don't know. You'll need to contact Elgin for that.

    Additionally, what are everyone’s thoughts on the theory that having clusters of multi-family rental properties in single family neighborhoods are viewed as a negative in the neighborhood as a whole.

    What problems beyond density and traffic does multi-family rental properties bring into a single family residential area.
    I guess it all depends on ownership. I live in a streetcar suburb of Chicago that has alot of converted houses and multi-family designed building mixed within single family districts, and there is really no major concerns beyond a crappy owner not maintaining the propety well.

    I think the only real potential conflicts would be traffic/parking. But a 2,000 square foot single-family structure could generate just as many trips for one that is split into multiple units versus one unit. It all depends on the number of people in the structure and the need for automobile use for the occupants.

    Don't we want a mix of housing forms within a specified locality?
    I'm sorry. Is my bias showing?

    Let's not be didactic in this profession, because that is a path to disillusion and irrelevancy.

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