The City Council of Lakewood, Ohio, is considering selling nine homes on 10 parcels of land near the downtown area following the closure of Lakewood Hospital in February, according to Cleveland.com.
The City Council is contemplating the Planning and Development Department's proposal to sell the residential properties it is currently renting to residents. The Lakewood Hospital Association and the city bought the houses decades ago to make room for more medical facilities in the event of a hospital expansion, according to the report.
However, in December, the City Council approved a proposal to close the Lakewood Hospital, capping off 11 months of debate. The Cleveland Clinic, which owned the hospital, plans to build a family health center and emergency department on nearby property. City officials said they no longer need to own the rental homes, according to the report.
The homes are being rented on a monthly basis, and three of the nine homes are currently vacant. After expenses and property taxes are factored in, the city will net only about $4,600 for the first half of 2016 from the rentals. Many of the houses will also require improvements or remodeling before they are put on the market.
The city is proposing offering the current renters the first chance to buy the homes. If they are not interested or cannot afford to buy, the city of Lakewood would allow a real estate agent sell the homes on the open market, according to the report.