City Purchases Two Apartment Buildings
The city last week bought two apartment buildings in the Oakview neighborhood for low-income family rentals.
Working with the Orange County Community Housing Corporation, the city is using $380,000 in federal funds to buy the four-unit buildings on Koledo Lane, economic development director David Biggs said.
The eight units will be rehabilitated with $120,000 in Community Development Block Grants funds, Biggs said. The units should be ready for occupancy by spring.
The Oakview neighborhood has the largest concentration of low-income residents in the city and has been the focus of housing rehabilitation projects. Since 1994, the city has bought and fixed up 38 units.
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