Regional News

US CityBldr starting to buy homes and turning them into multi-family homes

By Editor 0 Comments NEWS, Regional News

citybldr united states north americaStarting up in Seattle, CityBldr is starting to move into the home buying market and are prepared to compete with the bigger businesses near them. However CityBldr won't be exactly like Zillow or Redfin, both of which focus on buying homes straight from the homeowners, CityBldr will be turning homes into multi-family dwellings.

CityBldr’s software identifies underutilized land in cities, like Seattle, and makes connections between homeowners and developers to repurpose properties. For example, CityBldr helped seven homeowners in the Seattle area realize that if they sold their properties as a bundle to a real estate developer, they could make more money. Going forward, CityBldr will start buying properties like those directly, then sell them to builders and developers who will convert single-family homes into multi-unit residential buildings.

“We’re only going to be targeting properties that are zoned for multi-family development,” CityBldr CEO Bryan Copley said. “The big problem we’re trying to solve is that everybody’s moving to the city and there aren’t enough homes in the city to accommodate that growth.”

Read more here

Leave a comment

Your email address will not be published.