A thoughtful piece in this week's Creative Loafing examines the harsh realities of neighborhood revitalization for well-intentioned, non-investor types, in this case local personality Angel Povetund. After acquiring a decrepit Adair Park home at a fire sale price for its Beltline proximity, the challenges have been coming in from all directions. First is the difficulty of securing a bank loan for a ghost of a structure in a mostly down-and-out area that's only seen things worsen since the real estate collapse. Not far behind: the sudden voracity of the city's code enforcement, whose inability to communicate with Povetund required the intervention of a city councilman. Add to that the cost of sensitive window replacement in a historic district, and you can see why a $14,000 house might not be the deal it sounds like. [Creative Loafing]
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