VENTURE HOUSE
a community project that renovates old houses and turns them into spaces for young entrepreneurs
Abandoned, boarded-up houses have a notorious dampening effect on neighborhoods, driving down real estate prices and scaring away investors and potential tenants. Turning such places around requires more than a paint-job here and there; it takes profound revitalization. Luckily for the south side of St Petersburg, Florida, there's man named Frank Wells who has a plan. Over the next year, his Venture House project plans to buy 100 homes in the area, do them up, and then offer them on to entrepreneurs and artists at moderate prices. Venture House's strategy is to take boarded vacant houses, those in foreclosure and other problem properties, one small cluster of 5-10 houses at a time within a target neighborhood in need of fresh energy, and rehab them (including a big sweat equity contribution) to provide affordably-priced housing for local entrepreneurs who will commit to live there and create jobs in our City and be involved in their community.