Allegany County Land Bank cuts the ribbon at 79 Clark St. in Wellsville
WELLSVILLE – The Allegany County Land Bank marked the completion of construction of a three-bedroom single-family home in Wellsville with a ribbon cut this week.
The contemporary 1,320 square foot home sits on over an acre and a half of property that was long vacant / derelict and junk – going through multiple county tax auctions without a buyer.
âThe Land Bank worked with Alfred State, County, Village of Wellsville and local contractors to transform 79 Clark from a problematic overgrown property into a newly built large house,â said Jason Isaman, executive director of the Allegany County Land Bank.
The property, which includes an attached one-car garage and full basement, is currently listed at $ 199,900.
“It is a rare and incredible thing,” said Maggie Horan, real estate agent at Keller Williams, “to have a new home like this in the local market.”
The 79 Clark project was made possible by grants awarded following a class action lawsuit against the big banks for their role in the 2008 subprime mortgage crisis in which the New York State Attorney General’s office allocated settlement funds to New York land banks. . There were no local tax funds spent on the construction of the house.
An open house day at the house will be held on Friday, August 11 from 5 p.m. to 8 p.m.
Founded in 2016, Allegany County Land Bank is a non-profit public authority with a mission to solve the problems of vacant / abandoned and dilapidated properties and to create affordable housing.