Opening Doors

Opening doors to new housing means thinking outside the box. That is exactly what LadderUp Housing and the Land Bank are doing to turn vacant land into a springboard for local families.

LadderUp was born out of the University of Chicago’s Social New Venture Challenge in 2021, founded by Tom Voutsos with a mission to modernize the path to homeownership. Working with future homeowners, the company makes the American Dream happen through a blend of support and private-sector innovation. By purchasing and renovating existing structures—or, more recently, constructing new ones—LadderUp creates a stable environment where tenants can work toward a permanent stake in their community.

LadderUp rents its homes to tenants while they simultaneously build their credit scores in partnership with a non-profit financial coaching partner. Once the tenant is financially ready, LadderUp sells that very same home to them, ensuring that the transition from renter to owner is seamless and familiar.

Recently, this mission took a significant step forward. The Land Bank team worked with LadderUp to facilitate the sale of three vacant lots on Airport Highway in south Toledo. While the organization has long focused on revitalizing the existing housing stock, these lots presented a unique opportunity to venture into new construction for the first time.

Voutsos noted that many of the neighborhoods where LadderUp operates are dotted with vacant lots that have long sat dormant. He recognized that new construction provides a vital opportunity to increase the number of available homes in the area. To keep these homes affordable without sacrificing quality, LadderUp turned to modular construction. This method allows for high-quality, efficient builds that remain accessible to the communities they serve.

The transition to new construction was a learning curve for the team. While the factory and the builders involved brought extensive experience to the table, this was the first time LadderUp navigated the complexities of a ground-up build. Voutsos credited much of the project’s success to the collaboration with local contractors who handled the essential on-site work, including water, sewer, and electrical services.

He advises anyone considering a similar modular project in the city to engage with local utility and service companies early. Understanding the specific sequencing of activities is critical to ensuring that on-site infrastructure is ready the moment the home is delivered, avoiding unnecessary delays.

Today, two brand-new homes sit on lots that were empty for more than a decade. These well-constructed homes have open floor plans, modern appliances, and porches for the new residents to enjoy a quiet summer evening—everything that homeowners are looking for in this day and age.

Throughout this first-time building process, the Lucas County Land Bank remained a steadfast collaborator. Voutsos described the relationship as essential, noting that the Land Bank remained patient as LadderUp navigated the nuances of infill development and new construction permits.

This successful pilot in south Toledo marks a new chapter. With two new families soon to be on the path to homeownership, both organizations are looking toward the future, intending to continue their collaboration to fill in more vacant lots with modern, affordable homes for local residents.