INDIANAPOLIS – Mayor Joe Hogsett joined the Department of Metropolitan Development (DMD) and Renew Indianapolis to celebrate the 200th property sale. The 200th sale marks a milestone for the City’s Land Bank and set a record for Renew Indianapolis, which works to stabilize and revitalize neighborhoods by helping responsible buyers purchase vacant and abandoned properties.
Last year, Mayor Hogsett announced a plan to rehab, transform, or demolish 2,000 homes over a two year period.
The Indianapolis Land Bank’s newest property owner is Mohammad Moghul. Mr. Mogul, born and raised in Pakistan, recently settled in Indianapolis. His wife and four kids will be joining him in the coming months. He will be joined by his brother, Arshad, they are both handymen. The home Mr. Mogul purchased marks the 200th property sold out of the Indianapolis Land Bank. He plans to rehabilitate the eastside neighborhood home, transforming it into a long-term residence for him and his family.
The Indianapolis Land Bank, DMD and Renew expect to complete approximately 250 property sales by year-end, which is more than the number of Land Bank property sales made over the last two years combined and the most property sales completed in a single year in the Land Bank’s history.
DMD and Renew are also on target to demolish 128 blighted housing units this year.
