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Posted on: July 27, 2018

Schenectady HOMES Program Reaches Major Milestone in Property Sales

Schenectady HOMES Program Reaches Major Milestone in Property Sales
City-owned property sales in 2018 already exceed entire previous year

SCHENECTADY – Mayor Gary R. McCarthy announced that the city’s Homeownership Made Easy in Schenectady (HOMES) Program reached a major milestone. Revenue from city-owned property sales in 2018 has already exceeded that of 2017. Last year, the city sold 89 properties for a total of $1.67 million in gross revenue. As of July, the city has sold 121 properties in 2018 alone, for a total of $1.84 million in gross revenue. Additionally, the city currently has sales pending on 67 other properties, worth over $841,000.

“We are extremely excited to be making such progress and to continue the success of our award-winning HOMES program here in the City of Schenectady,” Mayor McCarthy said. “This is a comprehensive community partnership that could not have been possible without the extraordinary team of real estate professionals, realtors, lenders, and community organizations we have assembled to help strengthen our neighborhoods and move our city forward.”

By the end of May, more city-owned properties had been sold in 2018 than all of 2017. The number of city-owned properties sold and the amount of revenue generated so far in 2018 has also surpassed that of 2016, in which 111 properties were sold for a total of $1.74 million in gross revenue.

“What these numbers show is that more and more people are looking to call Schenectady home,” Mayor McCarthy added. “With so many ongoing economic development initiatives – the renaissance of downtown, our waterfront at Mohawk Harbor, the investments in our parks, and numerous community partnerships – it is encouraging to see that our efforts are producing real results.”

For an updated list of city-owned properties for sale, please visit the city’s website at www.cityofschenectady.com/356/City-Owned-Residential-Property. You can also contact the City of Schenectady Law Department at (518) 382-5073.

Schenectady’s HOMES Program will be hosting another City-Wide Open House for potential homebuyers this Sunday, July 29, 2018. Current residents and newcomers alike can find information on the Open Houses as well as other housing opportunities, financial assistance, and program offers at www.CallSchenectadyHome.com.

For additional information about the HOMES Program City-Wide Open House, or information on available resources for homebuyers in the city, please contact Matthew Smith, Homeownership Coordinator, at (518) 382-5199 ext. 5393, or msmith@schenectadyny.gov.  

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