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Another Downtown Landmark Going Under?

Started by Y, July 08, 2013, 02:51:33 PM

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Y

July 08, 2013, 02:51:33 PM
http://heraldbulletin.com/local/x243087596/Mortgage-holder-moves-to-foreclose-on-Delaware-Court-Apartments

Mortgage holder moves to foreclose on Delaware Court Apartments

ANDERSON, Ind. — Another downtown apartment building has fallen on hard times and is in foreclosure.

Bayview Loan Servicing LLC, which loaned Brooklyn, New York, investor Gilberto P. Rodriguez, $300,000 to buy the property at 120 W. 10th St. in late 2007, has filed a lawsuit in Madison County Circuit Court 3 to reclaim the 40-unit apartment building because of non-payment...

The fate of Delaware Court has been shared by at least two other downtown apartment houses over the past several years, all of which were built during the late 1920s and early 1930s.

These include Beverly Terrace apartments at 11th Street and Central Avenue, and Tower Place Apartments on Jackson Street...

A Carmel real estate investor, Youri Frakine, acquired Tower Place at auction for $100,000 in February. Workman have been renovating the apartments since then, but it's not clear when units will be available for rent.

All of those properties used to house wonderful apartments.

It's a shame to see Anderson going down the tubes like it has.

I guess we may as well flood it.
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