A LouMetro Council committee questioned the head of the city's Landbank Authority yesterday about properties sold by the agency - who their sold to and what becomes of them. kycir.org/2018/10/17/lou…
Some council members are concerned that too many properties get sold to investors or rental property managers - which they worry will undercut neighborhood stability.
They took specific issue with Mirage Properties LLC, a rental property management company. Mirage has bought more land bank properties than anyone (31). The owner said he manages some 800 rental units in west Louisville.
The houses Mirage purchased - all for $1 - were vacant/abandoned and in disrepair. Still, the owner promised to renovate the exteriors within six months. But @KentuckyCIR found he fail ed to make good on that promise with nearly every house he bought. kycir.org/2018/09/27/goo…
The reason? He said he couldn't find people to work in western Louisville. But now, three weeks after our initial report - he seems to be getting some work done.
In fact, at yesterday's council meeting, Laura Grabowski - the head of the city's Landbank Authority - said Mirage has "all but four (properties) almost completed."
This surprised me, so I went out to check. And I saw signs of work. Some properties - like on W Gaulbert, Madelon Ct, Sutcliffe Ave and Wilson - had new windows, new doors, new gutters and siding.
One house on 26th Street that once looked like it'd been pulled from a fire pit was totally different - nice siding, fresh windows. It was remarkable to see how renovating one house changed the feel of the block.
But some of the houses bought by Mirage for $1 appear to have a long way to go -- despite promises that the would be renovated months ago.
Like this small shotgun on Vermont Ave. This front door was a board for years, now it's not. But the side a rear of this house is still crumbling. (weird angle, I know.) 
Keep going west on Vermont and you'll see this house - with what appears to be new windows and doors. But look close and you'll see the peeling paint and a gaping whole just left of the porch.
And on Cedar Street, this small house hasn't changed since I started reporting this story. I once talked to a man that lives across the street - shocked to hear it cost just $1. He said he'd give another dollar and be sure to do something with it.
This house is on the corner of Louis Coleman Blvd. It's falling in on itself, trees and vines are overtaking the brick and graffiti covers the door. Mirage bought it for $1 and promised to fix it up.
There are others, on Del Park Terrace and on Muhammad Ali, that are a long way from finished. But perhaps they will be soon. It's tough to say with specificity why Mirage finally started working to fix up their properties ...
They paid $7,100 for 31 properties in the heart of Louisville. Those properties are valued at $743,000, according to the PVA. They promised to fix them up - but they failed to do so ... until now.
Maybe they found some workers. I mean, the company manages some 800 rental units - so it's likely they know where to find people who can work on houses ...
Or maybe they felt the pressure of accountability.
I'd like to think so. They were doing little until we started asking questions. Now, city leaders are asking question. And changes are coming.
Journalism is good.
I'd like to think so. They were doing little until we started asking questions. Now, city leaders are asking question. And changes are coming.
Journalism is good.
