PEORIA, Ill. – A new initiative aims to revitalize broken down houses in South Peoria for low-income first-time home buyers.
Reclaim Peoria was announced on Thursday at Neighborhood House. The project finds homes that are in need of repair in South Peoria, and uses money from the Peoria City/County Health Department’s Health Equity Homeownership Fund. Once the home is renovated, it’s sold to a first-time home buyer in the area.
The program is a partnership between the health department, Neighborhood House, and the Peoria Opportunities Foundation.
“Historically, the South Side has been severely disinvested, and because there’s a lot of low-income families on the South Side, people aren’t able to upkeep their houses in the same way,” said Irina Riggenbach, Executive Director of Peoria Opportunities Foundation. “I think it’s a great priority for the city and the county to start putting more money back into the 61605.”
The program currently has four homes in its possession, with one on W. Marquette that’s close to completion. The home is expected to be on the market in March. Riggenbach says it typically takes about 5-6 months for a home to be renovated and ready for sale, once they obtain it.
Riggenbach says the program helps with health because the renovated homes have lead and radon removed. She adds there’s mental health benefits, saying homeownership creates a more stable environment.
Leaders with the initiative hope to begin with up to seven homes renovated.
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