Bank of America to demolish 100 Detroit homes – will donate land plots for urban farming
Photo by Kevin Bauman from website 100 Abandoned Houses. See more here.
Estimated cost $1 million
By Maxwell Strachan
The Huffington Post
March 24, 2011
Bank of America, the country’s largest bank by assets, has announced an initiative to demolish one hundred abandoned Detroit homes currently under the bank’s ownership, a task that CEO Brian T. Moynihan says will “help ‘right-size’ the city,” according to the Detroit Free Press.
The bank, which estimates the costs at $1 million, says the land plots will be donated to the city “for green space, urban farming or redevelopment.”
Last year, the Wall Street Journal reported that then newly-elected Mayor Dave Bing planned to tear down 10,000 abandoned homes. But even that ambitious goal would only take care of one-ninth of the city’s 90,000 abandoned properties, according to Data Driven Detroit.
See website 100 Abandoned Houses. here.