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Article: RENTS MAY RISE SHARPLY AT 2 COMPLEXES; OWNER OF HARRISON HOUSE, TOWNSEND TOWER REQUESTS INCREASES OVER TWO YEARS.(Local)
- Article from:
- The Post-Standard (Syracuse, NY)
- Article date:
- February 22, 2005
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Byline: Cammi Clark Staff writer
Residents at Harrison House and Townsend Tower could see a hefty increase in their monthly rents if the U.S. Department of Housing and Urban Development approves a rent increase proposal from the complexes' owners.
Condren Realty, owner of the downtown complexes that serve low- and moderate-income tenants, is asking for its first increase since 1992 because of high vacancies, said Patrick Christopher, the company's president.
Back then, HUD approved a $10-a-month increase for the complexes.
The complexes aren't generating enough money to cover operating expenses - an estimated $1.9 million a year, ...