Affordable Rosemont Residential Community in Oak Valley Sold to Non-Profit

AUSTIN, Texas — After months of pushing for change, an Austin apartment complex that was severely damaged in February 2021 has new owners.

For months after the winter storms, residents at the Rosemont had to deal with many problems, including holes in the walls and ceiling, water leaks and mold.

Some residents were told to vacate, but they fought the eviction notices and took their concerns to district leaders.

On Monday night, these residents posted to Facebook celebrating the sale, writing, “When we fight, we win!”

Executive Vice President of Strategic Housing Finance Corporation Patrick Howard said the statesman that the 280-unit property was only 58% occupied in December. More than 100 units are vacant and at least 88 units face code violations but are currently live.

Howard said the organization had plans to repair the property in 2024 but the damage outweighed the funds available, including insurance money.

https://www.kvue.com/article/news/community/rosemont-at-oak-valley-sold/269-68ad0793-75b3-429c-b252-80c6ca56de24 Affordable Rosemont Residential Community in Oak Valley Sold to Non-Profit

Laura Coffey

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