|
|
Article: New buyer vows to restore landmarked Windermere.
- Article from:
- Real Estate Weekly
- Article date:
- June 3, 2009
- Author:
CopyrightCOPYRIGHT 2009 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
The landmarked Windermere apartment complex has fallen victim to neglect at the hands of an absentee landlord, its original grandeur a thing of the past.
But the West Side trio of buildings, built in 1880 in the Queen Anne style, is being prepared for a rebirth. The city recently reached a settlement with Toa Construction Co. Inc. of Japan, resulting in the payment of $1.1 million in penalties for the company's failure to abide by the Landmarks Law.
At the same time, Windermere Properties LLC has purchased the building from Toa and committed to restoring the complex under a special agreement.
Led by real estate investor Mark Tress of Ocean ...