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Microdevelopers offer new lease of life

They buy derelict properties on a small scale and rehab them to rent

'Preservation Is Sexy': In rehabbing derelict properties, microdevelopers save houses from demolition and preserve a neighbourhood or two, shoring up Buffalo's long, slow decline. - PHOTO: NYT

[BUFFALO] Bernice Radle and Jason Wilson, both 27, brandished their own sheaf of marked-up listings at this once-blighted city's annual auction of foreclosed properties. Other would-be homeowners and property moguls huddled over the listings for more than 4,300 parcels of vacant lots and houses