City Plans to Buy, Resell Caltrans-Owned Homes
The city is laying plans to purchase and resell surplus Caltrans-owned homes along the Long Beach Freeway extension corridor with the aid of a developer or housing agency.
In the last year, Caltrans has offered to sell more than 50 houses no longer required to complete the freeway extension.
But the majority of those sales to a Pasadena nonprofit housing agency for use as rental property have been delayed by legal obstacles resulting from litigation by South Pasadena residents and the city.
Now South Pasadena is seeking a partner to purchase and renovate the houses--many of which are vacant--for sale to low- to moderate-income home buyers, said City Manager Sean Joyce.
A major obstacle remains, however. Caltrans has yet to publicly agree to the sale. South Pasadena has long been an adversary to the agency’s plan to build the freeway extension.
The city is seeking a developer or nonprofit housing agency to leverage the purchase. In concert with its new partner, the city would renovate the houses and resell them to cover costs and, in the case of developer, provide some profit, Joyce said.
The City Council Thursday will discuss with a housing consultant how to go forward with the proposal.
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