Thursday, April 30, 2009

Consolidate and Conquer: The War to Win the Victorians

Jefferson Avenue has been the flagship for Ogden City's efforts to rejuvinate the urban residential center of town. The most dramatic changes are recognizable along the two blocks spanning Historic Jefferson Ave.

In the last 9 years, six giant victorian period homes have been consolidated from multi-unit housing and made back into homes. The effort continues.

This is latest project.

BEFORE


As you can see, this home had a nasty box built to the front of the home sometime in the 50's or 60's. Some how back then, the owner was convinced that the addition was a really good idea. Hmmm...

AFTER


With the box freshly removed, the home looks like it landed face first in the road, but in my opinion it is already starting to look better. You can see the potential that the home has now. And finally...



This is the one last victorian left to consolidate on the block. It is gorgeous on the interior. Just needs some TLC. The home is currently configured as a 7-plex. If you are interested in participating in the restoration of Downtown Ogden, let me know. This home is now for sale and is one of the last opportunities on the 25th Block of Jefferson Ave.

3 comments:

Ken Coman said...

Love seeing the change... That building in particular has always been in need.

Thanks for sharing.

Shawn Watkins said...

Beautiful homes in that area. I just can't make an SFR cash flow after the kind of rennovations it would need to restore it.

Jeremy Peterson said...

Instead of cashflowing, you move into it and make it a utility asset. Everyone needs a home...you might as well make it an awesome Victorian palace. Can you calculate IRR on intrinsic value?