Neighborhood Investment :
Rental housing better choice than abandoned housing

By Jason Piscia, The State Journal-Register, Springfield, IL (Wednesday, 12/19/01)

When Fletcher “Bud” Farrar sees a run-down house, he sees potential.

Farrar has spent the last decade buying some of Enos Park’s biggest eyesores, having them fixed up and turning them into rental housing.

In all, Farrar owns 13 houses, many of which stand out in Enos Park because of their bright color schemes.

Farrar and his wife, Mary Jessup, live in their own new – but old-looking – house in the 1000 block of North Seventh Street, right in the heart of the Enos Park neighborhood.

In an era of building bigger, better, newer and – in Springfield’s case – mostly on the west side, Farrar’s interest in putting money into the capital city’s inner core is an anomaly.

His love of “big, beautiful old houses” and the historic nature of the Enos Park neighborhood make him one of the cogs in the neighborhood’s quest to regain its old glory.

“He’s made a major contribution and he’s very involved with the neighborhood association, too, contributing time and money,” say Marilyn Piland, executive director of the Enos Park Neighborhood Improvement Association.

“I always liked making a silk purse out of a sow’s ear, I guess, and bringing old things back to life,” Farrar says.

Farrar, 52, came to Springfield in 1977 when he purchased the Illinois Times, a weekly alternative newspaper.  He moved to Enos Park in 1990.

He has since sold the newspaper and is editor of the Messenger, the national magazine of the Church of the Brethren.

Farrar started buying houses in Enos Park in 1990.  He characterizes those buildings as some of the worst in the neighborhood, including some that had been run by a slumlord and one that had been damaged by a fire.

Farrar realizes many people might look at such past-their-prime properties and say, “Why bother?”

“A lot of people have that reaction – that there’s no hope,” he says.  “But there is, especially if you can acquire houses for not much money and then spend the money on renovation instead of acquisition.”

“Then you can end up with a lot more than you would have gotten by just building a new house.”

Farrar tries to preserve the historic nature of his buildings.  That means keeping amenities such as high ceilings and striking woodwork.

Kevin Knox, who runs K.J. Knox Contractor of Tallula, has done most of the renovation work for Farrar in Enos Park.  He sums up Farrar’s desires this way:

“He wants a certain look,” Knox says.  “He doesn’t want us to put new in.  He wants us to put new in that looks like it’s old.”

“If you put forth the effort, you’ll reap a lot,” Knox adds.  “That’s what I see when I’m doing these projects.”

Census figures show that density in Enos Park actually is decreasing – to a large degree because many buildings have been demolished in recent years.  Neighborhood leaders say, however, the goal is to get more owner-occupied, single-family homes in Enos Park.

Farrar agrees with that goal, although he defends his rental properties.

“The choice has been between rental housing and abandoned housing, and I’d much prefer rental housing,” he says.

In fact, however, he is also making plans to acquire four run-down homes for owner-occupied, single- family use.

“These will be affordable housing, but there won’t be income restrictions on the buyers,” he says.

Farrar has created a not-for-profit organization, Old Neighborhood Rehab Inc., for the project.  He hopes the organization can attract money that has been accumulating in the Enos Park tax increment financing district to purchase and fix up the homes, which are in the 1100 block of North Fifth Street.

The project fits nicely with Farrar’s investment plans, as well as the goal of the neighborhood.

“I’ve got more rental property than I can manage now,” he says.  “So this is the way to attract some grant money and not have to manage them, but get them into the hands of homeowners.”