Adona Apartments: Difference between revisions
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'''Highland Bluff Apartments''' (originally '''Ski Lodge III Apartments''', later '''Aspen Run Apartments''') | '''Highland Bluff Apartments''' (originally '''Ski Lodge III Apartments''', later '''Aspen Run Apartments''') is a 553-unit apartment complex built in [[1983]] off of [[Robert Jemison Road]] in [[Birmingham]]. It was the third of the Ski Lodge apartment communities, the first of which was constructed in [[1972]] in nearby [[West Homewood]]. | ||
Miami, Florida-based Fifteen Asset Management sold the three communities in January [[2007]] to Miles Properties of Atlanta. The new owners announced a $15 million overhaul focussing on roofing repairs, interior finishes, landscaping and amenities, including a wifi enabled coffee bar, a fitness center, new grilling areas and events programming. After the work was complete, rents were raised by $50 or more, with discounts for full-time students. The complex was then given its current name. | Miami, Florida-based Fifteen Asset Management sold the three communities in January [[2007]] to Miles Properties of Atlanta. The new owners announced a $15 million overhaul focussing on roofing repairs, interior finishes, landscaping and amenities, including a wifi enabled coffee bar, a fitness center, new grilling areas and events programming. After the work was complete, rents were raised by $50 or more, with discounts for full-time students. The complex was then given its current name. | ||
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* Kent, Dawn (February 25, 2007) "New face for ex-Ski Lodge." ''Birmingham News'' | * Kent, Dawn (February 25, 2007) "New face for ex-Ski Lodge." ''Birmingham News'' | ||
* Hubbard, Russell (April 5, 2009) "Homewood's Aspen Run apartments snowed under in debt." ''Birmingham News'' | * Hubbard, Russell (April 5, 2009) "Homewood's Aspen Run apartments snowed under in debt." ''Birmingham News'' | ||
* Hubbard, Russell (November 21, 2010) "3 apartment complexes sold in one big real estate deal." ''Birmingham News'' | |||
[[Category:Apartment buildings]] | [[Category:Apartment buildings]] | ||
[[Category:1983 buildings]] | [[Category:1983 buildings]] | ||
[[Category:Robert Jemison Road]] | [[Category:Robert Jemison Road]] | ||
Revision as of 12:19, 21 November 2010
Highland Bluff Apartments (originally Ski Lodge III Apartments, later Aspen Run Apartments) is a 553-unit apartment complex built in 1983 off of Robert Jemison Road in Birmingham. It was the third of the Ski Lodge apartment communities, the first of which was constructed in 1972 in nearby West Homewood.
Miami, Florida-based Fifteen Asset Management sold the three communities in January 2007 to Miles Properties of Atlanta. The new owners announced a $15 million overhaul focussing on roofing repairs, interior finishes, landscaping and amenities, including a wifi enabled coffee bar, a fitness center, new grilling areas and events programming. After the work was complete, rents were raised by $50 or more, with discounts for full-time students. The complex was then given its current name.
In 2009 Wachovia Bank sued Miles Properties for defaulting on a $57 million loan for renovations to multiple properties. The suit claims that Miles withheld payments, wrongly took possession of rents and insurance proceeds, and left property taxes unpaid, subjecting the properties to possible liens or tax sales. The suit further alleges that it believes that the properties may have deteriorated in value for lack of maintenance.
On April 2, 2009, all residents got a letter stating that Miles Properties had sold the property to Julian LeCraw and Company of Atlanta. Residents have been able to renew their leases, however, but the property remained in foreclosure.
In November 2010, Wells Fargo, successor to Wachovia, sold the three complexes to Abbey Residential.
See also
References
- Kent, Dawn (February 25, 2007) "New face for ex-Ski Lodge." Birmingham News
- Hubbard, Russell (April 5, 2009) "Homewood's Aspen Run apartments snowed under in debt." Birmingham News
- Hubbard, Russell (November 21, 2010) "3 apartment complexes sold in one big real estate deal." Birmingham News