Out with the old and in with the new

By Brandi Bailey

May 22, 2013 Updated May 23, 2013 at 12:42 AM EDT

Binghamton, NY (WBNG Binghamton) The first of three houses goes up on Mary Street in Binghamton, removing blighted homes in the process.

The city worked with First Ward Action Council, a community housing developer, to get the project underway.

The first house being built is at 43 Mary St. costs $160,000. That includes both demolition and rebuilding.

Most of the money -- $100,000 -- was secured through Restore New York Awards over several years.

Members of the First Ward Action Council took out a loan for the rest of the funding to help the project along.

"They were eyesores before, they're safety hazards, they're draining local resources, depressing the market value. We've cleaned the slate and we're starting new," said Director of Binghamton Housing & Community Development Tarik Abdelazim.

The house is expected to be completed over the next few weeks.

It's being sold for $85,000.

The city says one buyer has already shown interest, but a sale is not yet complete.