Houses bought and renovated by Oklahoma City with federal money make happy homes

BY MICHAEL KIMBALL mkimball@opubco.com
Oklahoma City is using federal money to buy, renovate and sell foreclosed, dilapidated homes in struggling neighborhoods. The effort helps keep property values in the neighborhoods stable.
When Nelson and Lola Cresente decided to return to Oklahoma City after a brief stint in Nelson's native Uruguay, they didn't count on being able to find what is essentially a new home for a modest price in a familiar neighborhood.

But the Cresentes bought a house in southwest Oklahoma City that the city bought with federal funds, renovated and then sold. The result is a completely rehabilitated house that helps protect property values in a neighborhood with a relatively high number of foreclosed, dilapidated homes.
And the energy-efficient renovation helps the Cresentes' finances, too.
“Our utility bills are as low as they've ever been,” Lola Cresente said. “And I know it's because of the way they built the house.”
The city has used about $7 million in funds from the federal Housing and Urban Development Department in its joint Neighborhood Stabilization Plan to buy 72 foreclosed homes. Twenty-five have been renovated and sold to people like the Cresentes, 30 are being renovated now, and another 17 will be soon.
The Cresentes' home near SW 44 and Agnew Avenue has new siding, doors, gutters, water and sewer lines, heating and air conditioning, insulation, light fixtures, carpet, cabinets and countertops, city and federal officials said. The renovation was designed to be energy-efficient.
Nelson Cresente, 65, recently retired after a long career working for Coca-Cola in Oklahoma City, but decided to return here this summer after first moving back to Uruguay.
“I'm an Okie with an accent,” he said with a belly laugh. “This is my home.”
The jovial tinkerer happily showed off the workshop in his garage, his cozy bedroom and sparkling new kitchen to a gaggle of government officials and media touring his house Thursday.
It was apparent that even though the main goal of the program is to prop up sagging property values in struggling neighborhoods, the effort also helps make old houses into happy, affordable homes.
“We're just blessed,” Nelson Cresente said. “Thank God for this program, because it was exactly what we needed. For us, this is perfect. We're happy campers in here.”