Abbey at Boulder Ridge
Highland Peak Apartments (originally Ski Lodge Apartments, later Aspen Ridge Apartments) is a 585-unit apartment complex built in 1972 off of West Valley Avenue in Homewood. It was the first of three Ski Lodge apartment communities constructed.
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 focusing 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 to 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 August 2010 the Homewood City Council voted to submit a bid to purchase the complex for future redevelopment.
In November 2010, Wells Fargo, successor to Wachovia, sold the three complexes to Abbey Residential. Abbey president J. Frank Barefield, Jr and regional manager Jenny Moore immediately began evicting tenants who were behind on rent and enforcing rules against loitering. They worked with Birmingham and Homewood police commanders to increase patrols.
- 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
- Singleton, William C. III (August 17, 2010) "Homewood City Council votes to bid on purchase of apartment complex." Birmingham News
- Hubbard, Russell (November 21, 2010) "3 apartment complexes sold in one big real estate deal." Birmingham News
- Robinson, Carol (May 20, 2011) "Jenny Moore taking back Birmingham and Homewood apartments from crime." Birmingham News
- Gray, Jeremy (December 12, 2011) "Homewood firefighters battle blaze at Highland Peaks apartments." Birmingham News
- Singleton, William C. III (December 13, 2011) "13 families were displaced by fire at Highland Peaks apartments in Homewood." The Birmingham News
- Miles Properties website