In recent years cities like Cleveland and Lorain have used federal money to demolish vacant, blighted houses to create green space.
But Euclid was awarded a $3.5 million federal neighborhood stabilization grant to renovate dozens of abandoned homes.
A Tudor style home on 212th sat abandoned for years, but recently Euclid completely renovated the house inside and out.
Euclid got the house from the bank with no acquisition cost, then used $180,000 of the funds for renovation.
The house is now for sale by a real estate company.
Unless the house is in complete disrepair, Howard Hanna Realtor Jim Haffey said he prefers renovation over demolition.
"Realistically, I think renovating is the way to go. I mean if you start demolishing where does it end?I think renovation sparks interest in the neighborhood. It gets people interested in moving there again.". Haffey said.
But, a study by the U.S. Department of Housing and Urban Development reached a different conclusion.
The study found it depends on the health of the local housing market.
If the market is hot, it’s better to renovate which drives up property values and attracts more homeowners.
If the market is cold, It’s better to demolish, because it’s cheaper than renovating.
It also creates green space instead of the house just sitting there, possibly attracting crime.
