Understanding the TriCOG Landbank: What It Means for Crafton
From
Borough of Crafton
Sent
Fri, Oct 17 @ 4:29pm
Description
Understanding the TriCOG Landbank: What It Means for Crafton
For a more detailed answer see: https://www.craftonborough.gov/Blight
Crafton Borough Council has enrolled in the TriCOG Landbank, and we've heard questions and concerns from residents. Here's what you need to know:
What You May Have Seen Online
If you've looked at the landbank's website, you might have noticed properties listed at very low prices ($15,000-$20,000) that need significant repairs. This has understandably raised questions: "Why would Crafton, with our strong housing market, need this program?"
Here's What's Really Happening
The landbank's property map shows ALL properties they control, including many currently being renovated that aren't for sale yet. The reason you don't see move-in ready homes listed? They sell immediately when they hit the market – exactly what we want for Crafton.
The low listing prices are based on assessments done 13 years ago in 2012 the last year Allegheny County conducted an assessment. Blighted properties typically haven't changed hands in years or decades, which is why their assessed values remain frozen at very low levels.
Why Crafton's Strong Market Makes the Landbank MORE Valuable
Crafton has an excellent housing market – we've seen properties purchased for $10,000-$50,000 flip for $250,000-$300,000. In weaker markets, even landbank properties with clear titles can sit unsold. In Crafton, they'll move quickly.
The challenge: some lower-value properties in Crafton are encumbered with liens and debt that prevent investors from profiting on renovations. The landbank can clear these obstacles in ways the Borough cannot.
The Numbers
Of Crafton's 1,549 single-family homes, 524 (over one-third) are assessed at $96,400 or below
In 2024-2025, eight houses sold for under $100,000, including two under $20,000
The median home sale price was $195,000 – meaning half sold for less
While these lower-value properties aren't Crafton's norm, they exist. When they become blighted, we need effective tools to address them.
This Isn't About Lowering Property Values
It's about eliminating blighted properties that drag down surrounding values and giving developers the ability to renovate properties they currently cannot touch.
We're Listening
Your feedback has shown us we need to provide more information about:
Specific blighted properties in Crafton and their locations, which is being compiled
How the landbank process works
The tax implications and benefits
Questions or Concerns?
Contact the Borough Administration at 412-921-0752 or visit the website for more information.
This notification was posted by Borough of Crafton. Borough of Crafton is solely responsible for this notification and unless specifically indicated, no other community or individual utilizing Savvy Citizen is sponsoring, responsible for, or endorsing this notification.
