Cowtown California city sells landmark abandoned high-rise in dilapidated downtown for just $1

The foundation has ambitious plans to fund the construction costs through a $3 million federal public works grant.Photo byGrant PorteronUnsplash

In a landmark decision aimed at revitalizing downtown Fresno, the Fresno City Council has approved the sale of the long-abandoned Berkeley Building at 887 Fulton St. for a mere $1. The move marks a significant step forward in addressing the blight caused by derelict properties while opening doors to new opportunities for community development.

The Berkeley Building, a once-prominent structure that has languished in neglect for years, is set to undergo a remarkable transformation under the ownership of the Fresno Area Hispanic Foundation (FAHF). With the council's endorsement of the resolution last week, FAHF now has the green light to proceed with plans to breathe new life into the building, potentially ushering in a new era of vibrancy and economic growth for the area.

The decision to sell the property for a nominal sum of $1 stems from the building's deteriorating condition and the vision for its future. The Fresno City Council, recognizing the potential benefits to the community, approved the sale in alignment with the city's redevelopment goals. The agreement between the city council and FAHF required careful consideration, ensuring that the transfer of ownership would serve the best interests of Fresno residents.

According to recent appraisals cited in city council documents, the Berkeley Building holds an estimated value of $81,000. However, its sale for $1 reflects a strategic investment in community revitalization rather than a mere monetary transaction. FAHF, a staunch supporter of local Latino-owned small businesses, intends to transform the dilapidated property into a hub of activity, featuring ground-floor retail shops complemented by office spaces on the upper levels.

As part of the agreement, FAHF will embark on a rigorous six-month due diligence process to assess the building's structural integrity and feasibility for redevelopment. The foundation has ambitious plans to fund the construction costs through a $3 million federal public works grant, demonstrating its commitment to revitalizing downtown Fresno and empowering local entrepreneurs.

The pending sale of the Berkeley Building represents more than just a real estate transaction—it symbolizes a collective effort to revitalize neglected urban spaces and foster economic opportunity for all residents. With the groundwork laid for its transformation, the Berkeley Building stands poised to become a beacon of progress and renewal in the heart of Fresno.