JACKSONVILLE, Fla. – The Eureka Gardens apartment complex and five other Jacksonville subsidized housing properties were under new management Wednesday as the Millennia Group took over the long-troubled complexes.
The Ohio-based company that manages housing complexes around the country is buying the portfolio of properties from Global Ministries Foundation. In addition to Eureka Gardens, Millennia is in the process of buying Washington Heights, Springfield Residential One, Southside Apartments, Market Street Apartments and Moncrief Village, all located in Jacksonville.
Recommended Videos
GMF has been under scrutiny since an I-TEAM investigation that began in the fall of 2015 that exposed deplorable living conditions at the apartments. That led to a city code enforcement raid that found crumbling staircases, gas leaks, mold and other problems.
The U.S. Department of Housing and Urban Development had the property re-inspected and the conditions led to visits to the property by U.S. Sen. Marco Rubio and a meeting in Washington between city leaders and HUD officials.
The Millennia Companies, founded in 1995, specializes in the acquisition, rehabilitation and management of affordable and market rate properties and manages 20,000 units across 22 states.
Global Ministries released a statement about the pending sale:
GMF is under contract to sell certain of its Section 8 properties to The Millennia Companies. The sales are subject to typical due diligence and other inspection contingencies, as well as subject to HUD approval. The proceeds of the proposed sales would be used to pay off all then outstanding debt relating to such properties.” - Audrey Young, Spokesperson for GMF-Preservation of Affordability Corp.