Bedroom in old abandoned home. Demolished, forlorn.

Alderman Proposes Selling Vacant Homes for $1

Alderman John Muhammad says it's time to try something different.

June 25, 2018 - 5:04 pm

ST. LOUIS (KMOX) - A St. Louis alderman wants to lure investors to fix up thousands of vacant homes in the city by offering them for a dollar a piece.  

Alderman John Muhammad says there are more than 10,000 vacant homes in the city -- many of them owned by the city for backed taxes -- and it's time to try something different.

"Businesses don't come into communities where there are no people, there are no families, and there is this high vacancy," he says. "Bringing people back into these struggling and often-neglected neighborhoods will in turn bring in business owners, will bring in more retail development."

Under the bill, which will be introduced Friday in the board, prospective buyers could lease a property for a year or so from the city, get it up to code, and then the city would sign the property over to them. 

"A home for a dollar," Muhammad says."A dollar and a dream."