York Hills I apartment complex is for sale 6.25.09

Written by David Green.

Looking for a local investment? Have half a million or so dollars to unload?

Check out the advertisement in this week’s classified ads regarding the sale of York Hills I apartments in Morenci.

An open house is scheduled June 30 to view the 24-unit apartment building and bids are due July 13. Bids will be opened in Lansing at the U.S.D.A. Rural Development office.

Only York Hills I is for sale, said Sonya Wyldes, a multi-housing specialist with Rural Development. Morenci’s second York Hills apartment building has a different owner, K&G Prestige.

York Hills I went into foreclosure in July 2007.

“Rural Development is the owner and the federal government is trying to sell off some properties,” Wyldes said.

York Hills I is one of about 30 inventory properties in Michigan owned by Rural Development.

Wyldes said half a dozen companies have expressed an interest in the complex, but if it doesn’t sell, residents should have no worry about the facility closing. The U.S.D.A. will continue to operate the apartments if no sale occurs.

A new owner would be required to continue the existing rent structure for low-income residents. In addition, a loan for the purchase of the apartments must be obtained through the U.S.D.A.

  • Front.splash
    Water Fun—Carter Seitz and Colson Walter take a fast trip along a plastic sliding strip while water from a sprinkler provides the lubrication. The boys took a break from tie-dyeing last week at Morenci’s Summer Recreation Program to cool off in the water.
  • Front.starting
    BIKE-A-THON—Children in Morenci’s Summer Recreation Program brought their bikes last Tuesday to participate in a bike-a-thon. Riders await the start of the event at the elementary school before being led on a course through town by organizer Leonie Leahy.
  • Front.drum
    on your mark, get set, drum!—Drew Joughin (black shirt), Maddox Joughin and Kaleea Braun took the front row last week when Angela Rettle and assistants led the Stair District Library Summer Reading Program kids in a session of cardio drumming. The sports and healthy living theme continued yesterday with a Mini Jamboree at Lake Hudson State Park arranged by the Michigan Department of Natural Resources. Next week’s program features the Flying Aces Frisbee show.
  • Front.art.park
    ART PARK—A design created by Poggemeyer Design Group shows a “pocket art park” in the green space south of the State Line Observer building. The proposal includes a 12-foot sculpture based on a design created by Morenci sixth grade student Klara Wesley through a school and library collaboration. A wooden band shell is located at the back of the lot. The Observer wall would be covered with a synthetic stucco material. City council members are considering ways to fund the estimated $125,000 project and perhaps tackling construction one step at a time.
  • Front.train
    WRECKAGE—Morenci Fire Department member Taylor Schisler walks past the smoking wreckage of a semi-truck tractor on the north side of the Norfolk and Southern Railroad tracks on Ranger Highway. The truck trailer was on the south side of the tracks

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