Orlando to vote today on buying vacant apartments
Orlando leaders will vote today on whether to buy seven aging apartment complexes out of bankruptcy. It’s part of an effort by leaders to prevent gentrification near the Citrus Bowl.
Fannie Mae foreclosed on the apartment complexes in 2013. Years of neglect have made the 800 apartments un-rentable.
Florida Hospital is helping fund the nonprofit Lift Orlando that will tear down and rebuild the apartments.
“To make investments in a community that’s otherwise totally neglected, again, brings more people into society, get to participate in the economy, get to participate in everything that makes Orlando what it is,” said Florida Hospital CEO Lars Houmann.
No official plans have been drawn out for the apartments, but the project would be mixed-income. In total, the city will spend $6.8 million to buy the apartments, and is looking for partners to redevelop the remaining complexes.
The apartments are:
- Orange Manor, 64 apartments at 2205 Orange Center Boulevard. Sale price: $637,411
- Washington Shores, 256 apartments at 2021 Orange Center Boulevard. Sale price: $2.2 million
- Nichols, 58 apartments at 541 S. Cottage Hill Road. Sale price: Sale price: $400,451
- Bordeaux I and Bordeaux II, 84 apartments at 1742 and 1770 Mercy Drive. Sale price: $1.1 million
- Lakeside Village, 120 apartments at 1740 Mercy Drive. Sale price: $1.5 million
- Peppertree Circle, 40 apartments at 1471 Mercy Drive. Sale price: $372,513
- Peppertree Shores, 58 apartments at 1014 Mercy Drive. Sale price: $620,855
WMFE is a partner with Health News Florida, a statewide collaborative reporting on health care.
Health reporting on WMFE is supported in part by AdventHealth.
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