Showing posts with label Assertive Mpls Props LLC. Show all posts
Showing posts with label Assertive Mpls Props LLC. Show all posts
Monday, June 2, 2014
"The Jordan Garden House" Had its Slummy Contract Canceled
1716 26th Avenue North is often referred to as "The Jordan Garden House" due to its proximity to the "peace garden" at the corner of 26th and Knox Avenue North. (Although the Jordan Area Community Council does not own the house.) The house has been a vacant eyesore for years, since it went from one owner to tax forfeiture. And since Hennepin County has had low or nonexistent standards for who they'll sell tax-forfeited properties to, this one was purchased by the infamous Ken Welch of Assertive Properties.
The story that sticks with me about Welch with this house is that reportedly a local non-profit developer was interested in making an offer to buy and rehab the house. The developer figured Welch would be open to a deal, as the house simply couldn't be financially viable in its boarded and vacant state. The annual VBR fees alone had to make the property untenable. Instead, the offer was rebuffed on the grounds that the place was still financially worth keeping even in that condition. Why would that be, I wonder? I have my own theories, but welcome any ideas folks may have.
For the purpose of this post, however, the important development is that Welch/Assertive no longer owns the house. And here's how that happened:
Saturday, October 15, 2011
Who Owns Them Now? (Not Paul Koenig)
Post and top photo by the Hawthorne Hawkman. Bottom photo from Paul Koenig's now-defunct blog.
When a property becomes owned by a slumlord, or is touched by mortgage fraud, that property is quite unlikely to immediately go back into the hands of a quality owner - whether the house is homesteaded or not. It's been long enough since the "One Man Housing Crisis" of Koenig/Pamiko/Marklee Construction/MCK Investments/Dream Homes/Did I forget any LLC? collapsed on itself, so its time to take a look at where those houses ended up, starting with...
When a property becomes owned by a slumlord, or is touched by mortgage fraud, that property is quite unlikely to immediately go back into the hands of a quality owner - whether the house is homesteaded or not. It's been long enough since the "One Man Housing Crisis" of Koenig/Pamiko/Marklee Construction/MCK Investments/Dream Homes/Did I forget any LLC? collapsed on itself, so its time to take a look at where those houses ended up, starting with...
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