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.

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    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.
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    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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  • KayseInField
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    BEVY OF BALLS—Stair District Library Summer Reading Program VolunTeens, including Libby Rorick, back left and Ty Kruse, back right, threw a dozen inflatable soccer balls into the crowd during a reading of “Sergio Saves the Game.” The sports-themed program continues on Wednesdays through July 27.
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