SPRINGFIELD, Mo. (Springfield News-Leader) —
Those strolling through the Woodland Heights neighborhood may notice a welcome change in scenery as one home on North Campbell Avenue undergoes a rapid facelift. The transformation of the house, which dates back to the 1900s, is part of Restore SGF's newest venture — renovating old houses to make them ready for new owners.
The nonprofit, which focuses on neighborhood revitalization and increased home ownership, is launching a new Revolving Loan Fund program that brings together the private sector, developers and the nonprofit to transform dilapidated homes.
In early June, Restore SGF acquired its first home as part of the new program on North Cambell Avenue. Executive Director Brendan Griesemer said the work on the house will be a way to pilot the program and work out the kinks of the construction schedule before the Revolving Loan Fund program ramps up.
The goal of the program is to buy homes, renovate and spruce them up and then resell them to local homebuyers. With the investment of $250,000 or $500,0000 from several private financial institutions, Restore SGF can buy homes and renovate them before selling them, recouping that money and starting the cycle over again. Currently, the nonprofit is focused on five neighborhoods: Woodland Heights, Fassnight, Grant Beach, Doling Park east of Robberson Avenue and Meador Park east of National Avenue. These were selected by a Neighborhood Selection Committee which conducted driving tours and evaluated every neighborhood based on historic features, median income, housing market activity, crime rate, nuisance property score, Community Reinvestment Act (CRA) credit eligibility, proximity to large public or private investments and other factors.
At a Springfield City Council lunch meeting in July, Griesemer noted that the North Campbell home was a rental operated by an owner out of Phoenix, Arizona, that will now be turned over to home ownership. The recently completed housing study showed that only 42% of Springfieldians own their home — a rate that city leaders seek to improve.
Inside the first home
For this property, Restore SGF partnered with local developer Matt Blevins, who is also behind the Historic Boyd Elementary development, to lead the renovation efforts. As the program grows, Griesemer said the plan is to scale up and collaborate with additional developers, creating a "project pipeline" where multiple homes can be in the works at the same time.
The two-story home near the new Reed Academy of Fine and Performing Arts is roughly 2,700 square feet and includes four bedrooms and two bathrooms. Prior to work beginning on the house, the interior was covered in dust, with damaged walls and floors that had partially collapsed. The home still featured old windows that use a weight within the frame as a pulley system to open and shut them. Steep steps lead up to an attic that covers the entire footprint of the home.
Blevins said the goal is to retain as many of the historic elements of the house, such as the doors, while making the home more appropriate for modern living. He said the plan is to replace windows and the floor and ensure anything that needs fixing is handled to make it move-in ready.
"It's got good bones, the structure seems to be intact," he said. "It just needs it needs a little bit of love."
For him, the program is about saving homes under the threat of demolition and showing their potential.
"That's really the goal of this. It's not to make a whole bunch of money on it, it's to actually educate people about what can be done," Blevins said.
Contractors began working on the house last week and already, the old siding is beginning to be replaced with new material. Blevins remained optimistic that the renovation can be done and the home ready for buyers by the end of September.
Griesemer said the organization is actively searching for more properties, though with how tight the housing market is, it has been a challenge.
"We feel that we're just going to have to work in our neighborhoods, work with the neighborhood residents to find the houses ...The ones that we are focused on, obviously, may not be in the best shape, may need some tender loving care," he said. "Some of our neighborhoods have very few houses for sale."
The program is also expected to be used to buy vacant lots to build homes and "missing middle" housing that provides a transition between apartments and single-family houses. As with the hunt for homes, Griesemer said it is no small feat to find vacant lots, especially as the five neighborhoods selected are mostly developed.
Status of the new nonprofit
This is the third of Restore SGF's programs, which Griesemer said will work hand-in-hand with the Down Payment Assistance program. The Down Payment Assistance program provides $9,000 grants to first-time home buyers in the five neighborhoods as long as they qualify for a bank loan and put in at least $1,500 of their own money. Griesemer said that while the success of the Down Payment Assistance program has drawn down the funds quickly, the intent is to offer it for eligible buyers of the renovated homes.
The nonprofit also offers the Restore My Block Challenge Grant program, which tasks neighbors in the five covered neighborhoods with working together to improve home exteriors, for which they can receive a refund on the costs incurred.
At the council meeting in early July, Griesemer and Restore SGF Board of Directors President Richard Ollis shared plans and aspirations for future programs that could also include a program similar to Restore My Block that instead focuses on interior projects in the next year.
Funding is one of the largest obstacles for Restore SGF to expand its capacity to provide more services. Currently, the nonprofit has relied on the city's American Rescue Plan Act funds and budget allocations and investments from area financial institutions. Restore SGF hopes to find a permanent funding source that could provide $4-$8 million annually and allow it to expand its work to have the greatest impact.
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