About 70 of the properties are single-family homes and duplexes in need of rehabilitation. The remaining 23 are vacant lots. A few of the properties are believed to have historic significance.

The neighborhoods with properties up for auction include Mid-City, Lake Vista, Freret, West End, the Lower Garden District, Bayou St. John, Navarre, the Fair Grounds, Gentilly Terrace, Hollygrove and many others.

The auction will take place at the Xavier University Auditorium, 1 Drexel Drive, starting at 10 a.m. Gilmore Auction & Realty Co. will conduct the auction.

Bidding will start at $1,000 per property, with all sales subject to NORA’s approval. There are no restrictions on who may attend and bid.

Those intending to bid may register at Xavier starting at 8 a.m. or in advance at www.gilmoreauction.com. Those who preregister will still need to get a bid number at registration, but preregistering will speed up the process. Those who preregister should print a copy of their registration and bring it to the auction.

For details on all the properties, click on “Catalogs” at the section of Gilmore’s website devoted to the auction.

Most of the sites are Road Home properties acquired by the state after Hurricane Katrina and then transferred to NORA. Eleven sites are with the Real Estate Acquisition and Land Banking Mechanism, or REALM, a NORA program to expedite the distribution of blighted properties.

Officials said most of the properties are in neighborhoods that have seen strong redevelopment following the storm and have few Road Home properties. The sale of the remaining Road Home properties in these neighborhoods will strengthen the private real estate market in them, they said.

Winning bidders must agree to rehab or begin construction on the property within 12 months and to keep it free from blight. They may also utilize the property for green space if they are a directly adjacent property owner.

All the properties were previously screened for Lot Next Door program eligibility and offered to eligible neighbors, if any, but neighbors who previously declined the opportunity to purchase a property may buy it at the auction and use it for green space, officials said.
Joliet St. 2500 – Northwest CarrolltonR. Stephanie Bruno Photo Joliet St. 2500 – Northwest Carrollton New Orleans ROAD HOME and REALM property auction

The winning bidder must pay 10 percent of the purchase price at the auction, with the full amount due in 30 days after all conditions for closing are met. The seller will pay all closing costs on Road Home properties except those associated with financing. The seller will provide insurable title and environmental disclosures. The buyer must pay all closing costs on REALM properties.

Bidders must bring $500 in certified funds to the auction. This $500 will become part of the 10 percent deposit that is due on a winning bid. There is no cost to bid.

The New Orleans Redevelopment Authority, formerly called the Community Improvement Agency, was created in 1968 to eliminate and prevent the spread of blight in New Orleans, but for many years it remained largely dormant.

After Katrina, however, it emerged as a key player in redevelopment plans. It was charged with disposing of nearly 5,000 Road Home properties and implementing the Lot Next Door program, and it has become active in broader economic development projects such as commercial redevelopment of Oretha Castle Haley Boulevard and the Gentilly Woods Shopping Center.

Bruce Eggler can be reached at beggler@timespicayune.com or 504.826.3320.

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St. Tammany Parish, in cooperation with the Louisiana Land Trust, Tangipahoa and Livingston Parishes, is hosting an auction for approximately 150 Road Home properties on Saturday, July 17th, at 10:00AM. The public auction will be held at St. Tammany Junior High, 701 Cleveland, in Slidell, Louisiana. Gilmore Auction and Realty Company will be handling the auction.

The properties are located throughout St. Tammany, Tangipahoa and Livingston Parishes including the towns of Mandeville, Madisonville, Lacombe, Slidell, Bush, Bogalusa, Amite, Hammond, Tangipahoa, Fluker, Springfield and Maurepas. A small number of homes for rehabilitation will be offered, with the balance consisting of vacant residential lots where the home and slab have been removed.

Each property will be sold individually to the highest bidder without reserve.

Auction terms are ten percent down auction day with closing scheduled within 30 days. The auction is open to the public with no restrictions. Anyone can attend and bid on properties.

Property information, photos, FAQ’s and additional terms can be reviewed by clicking on the link on the home page of www.stpgov.org marked Gilmore Auction Info.

http://www.stpgov.org/news.php?id=1557

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K.C. Freight House District &

Main Street Properties

KANSAS CITY, Mo., March 22 /PRNewswire/ — The estate of Kansas City developer Tom Levitt has scheduled a “Dual Bid” auction for fifteen properties located in Kansas City’s Freight House District and on Main Street.  Sealed bids are due on April 29 with an auction scheduled for May 6.

Prior to his death in September, 2009, Mr. Levitt succeeded in obtaining a myriad of economic development incentives for these properties, including Tax Increment Financing, historic tax credits and tax abatement.

The Freight House properties, consisting of eight buildings and two parking lots, are in the existing 22nd and Main Tax Increment Financing Plan, providing future developers with up to $9.3 million in potential TIF reimbursements.  Additionally, all of the Freight House buildings are eligible for state and federal historic tax credits equal to 45% of qualified redevelopment costs.  Furthermore, these properties are within an Enhanced Enterprise Zone.

The Main Street properties are within an approved Planned Industrial Expansion Authority (PIEA) District, providing a developer or owner-occupant with twenty-five years of reduced property taxes. Additionally, the Goodenow Building at 3710 Main Street is eligible for state and federal historic tax credits.

Four properties will be sold absolute with “no minimum or reserve, to the highest bidders”.  These include 2107 Central, the 90,600 square foot Pabst Building, 2101 Central, the 15,100 square foot Pendergast Building and 2114 Wyandotte, a 34 space parking lot, all to be sold as a package.  In addition, 2000 – 2004 Washington, a 3,574 square foot warehouse building will be offered absolute with no minimum or reserve.

Additional Freight House properties offered include:

• 2100 Central:  3 story, 21,825 sf. Creamery Building
• 2101 Broadway:  3 story, 43,650 sf. Candle Building
• 303 – 315 Southwest Blvd.: 31 space Gateway Parking Lot
• 2030 Central:  1 story, 14,699 sf. Jacobson Building
• 2006 – 2014 Wyandotte:  3story, 36,676 sf. Columbia Building
• 2020 Wyandotte: 1 story, 2,988 sf. Boiler Building
• 214 West 21st St.:  2 Story, 5,639 sf. Box Building

Main Street Properties include:

• 3710 Main:  3 story, 38,164 sf. Goodenow Building
• 3737 Main:  Historic Tri-Plex
• 3741 Main:  Historic Tri-Plex
• 3745 Main:  Commercial Lot

Sperry Van Ness Accelerated Marketing has been commissioned to market the estate properties at auction.  The Sperry Van Ness team is lead by Kansas City advisor, Gib Kerr, CCIM, along with national auctioneers, David E. Gilmore, CCIM and Don Erler, CAI.  Interested bidders should visit www.svnauctions.com for a detailed information package on each property or contact Gib Kerr at 816-303-2117.

The Sperry Van Ness Accelerated Marketing team has conducted successful auctions, sealed bids and asset dispositions throughout the United States, Mexico, Puerto Rico and the Virgin Islands.  Founded in 1987, Sperry Van Ness is one of the largest commercial real estate firms in the industry, with more than 900 advisors in over 150 locations.

SOURCE Sperry Van Ness Accelerated Marketing

Back to top RELATED LINKS
http://www.svnauctions.com

http://www.prnewswire.com/news-releases/levitt-estate-announces-auction-for-kc-freight-house-district–main-street-properties-88798662.html

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A young physician and her father arrived at Saturday’s auction at the Joseph H. Yenni Building in Elmwood hoping to buy a lot near East Jefferson General Hospital.

Numerous residents of Maple Ridge Park showed up in case lots in their subdivision turned out to sell for bargain prices.

A soon-to-be-married couple eyed properties in central Metairie, close to their families.

Many left empty-handed.

Dr. Ka-Tan Tong, who just finished her family-practice residency, made early bids on three lots in the Pontchartrain Gardens and Pontchartrain Shores subdivisions. But she left quickly as the bidding on the last of the properties she had hoped to buy topped $90,000. “It’s just a lot. You still have to build a house,” she said, shaking her head.

There were some steals to be had at Saturday’s auction, the first open-market sale of Road Home properties in Louisiana. But many bids were higher than predicted.

All told, the auction’s revenue total of more than $4 million was about 10 percent to 20 percent higher than expected, said Mike Taylor, director of the Louisiana Land Trust, the nonprofit corporation created by the state to hold the storm-ravaged Road Home properties purchased from homeowners after Hurricane Katrina.

Winning bids ranged widely. Tiny lots or ones with less desirable locations went for several thousand dollars. But prices for empty lots in Maple Ridge soared to $90,000 or more, higher than many had expected, including neighborhood resident Christine Vinson and her husband, Darrin Piotrowski, who had predicted prices closer to $60,000.

Vinson waved at dozens of neighbors including Adam and Kat Kraus, who walked past them, grimacing good-naturedly at being outbid for the lot next to their home on Maple Ridge Drive.

“I figured we’d get squeezed out by a contractor,” said Adam Kraus, who explained that the couple had opted not to participate in the Lot Next Door program because of prices that didn’t seem to differentiate between corner and midblock properties and “too many restrictions,” including a requirement that the lot can’t be sold without penalty for at least five years.

In all, the auction sold 87 of the 147 parcels in Jefferson Parish that were purchased by the state after Katrina.

Of the remaining 60, some can’t change hands until a required environmental review is complete, Taylor said. Also, about 10 parcels were already sold through the Lot Next Door program, and about 40 will be redeveloped by the parish or municipalities and sold as low-cost housing to qualifying households, Taylor said.

Proceeds from Saturday’s auction will be funneled back to Jefferson Parish for projects eligible for Community Development Block Grant money, he said.

For the auction’s more than 500 registered bidders, the Maple Ridge properties were clearly a leading draw. The bidding began with auctioneer Dave Gilmore announcing, “And here’s what you’ve been waiting for.” And within minutes after Gilmore hollered “Sold!” for the last Maple Ridge address, hundreds left the crammed Jefferson Parish Council chamber, creating open seats for the first time all day.

But Huey and Kathy Cheramie left happy after investing in a Maple Ridge lot that backs onto their adjoining subdivision.

Julia Harris also walked out beaming. She and fiance Scott Werner had just made a winning $92,000 bid for a lot on Lemon Street in the Pontchartrain Shores subdivision. Harris, a real estate agent, and Werner, a contractor, had teamed up to determine land values and construction costs at several sites, including the sought-after Maple Ridge properties, all of which had been bid past their $90,000 limit.

Their winning bid was $2,000 higher than they budgeted, and the two were nervous as they made it, Harris said.

Still, she was pleased. The lot is just off West Esplanade Avenue, “where all of our family lives,” she said. Also, it’s a corner lot, with a school across the street.

Harris mentally estimated closing and construction time. Within six months, she said, the couple could be living in a newly built home on Lemon Street.

“We did our homework, and it worked out for us,” she said.

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