SCHENECTADY — Say goodbye to another neighborhood eyesore.
What was once a neglected city-owned house in an overgrown lot is now a slice of the American dream waiting for just the right buyer.
The renovation of 3330 Balltown Road is the result of another new partnership between the city and a coalition of stakeholders.
This time, the city partnered with A.I.K. Property Group and the city’s Economic Opportunity Workforce Initiative to rehabilitate the home, which had sat vacant since 2012.
A.I.K. purchased the property in March as part of the Mayor’s HOMES Program (Homeownership Made Easy in Schenectady), which is designed to promote and facilitate homeownership for first-time buyers.
The company then worked with graduates from the city’s Workforce Initiative to rehabilitate the property, which is located on the border with Niskayuna, where dignitaries gathered on Friday to tour the site.
“This announcement today is the culmination of multiple city programs working cohesively with community partners to revitalize distressed property, create new homeowners and strengthen economic opportunity in our city,” said Mayor Gary McCarthy.
The home is listed at $189,900 and realtors said several offers have already been made.
“By bringing life to new houses, we’re bringing vitality back to the community,” said A.I.K. co-owner Khadijah Peek.
The niche firm specializes in buying and rehabilitating distressed properties. The family-owned business is starting small, and is working with Schenectady-based real estate coaches VestorPro and investors Action Investors Network to get off the ground.
They envision rehabilitating three or four properties next year with a central focus on affordability and getting homes back on the market expediently, preferably to families.
“We’re taking our time going project by project,” Peek said.
The city’s Affirmative Action Officer Ron Gardner launched the workforce initiative last year, which includes a Craft Skills Job Training program for income-qualified residents at SUNY Schenectady’s College & Career Counseling Center.
The program also offers a Construction Management Training and Business Development course for local MWBE firms at the state Association of General Contractors.
“We are incredibly proud of the success our program has had teaching skills and providing workforce opportunities for local residents in the community,” Gardner said.
Fifty-six students have completed the Craft Skills Job Training Program since its launch in early 2018, and 15 small businesses have completed the Construction Management Training Program with AGC, according to the mayor’s office.