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Article: Colorado Springs Real Estate Briefs: September 25, 2009
- Article from:
- Colorado Springs Business Journal
- Article date:
- September 25, 2009
- Author:
CopyrightCopyright 2009 Colorado Springs Business Journal. Provided by ProQuest LLC. (Hide copyright information)
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Two bank-owned foreclosure properties have been purchased by a
partnership group that includes Greccio Housing, Partners in Housing
and Rocky Mountain Community Land Trust.
The purchases were made possible by federal Housing and Urban
Development Neighborhood Stabilization Program grants.
The partnership purchased Bentley Commons for $1.7 million from
Bank of the West.
The property, at 2715 Bentley Point, was built during 2005 as a
condominium community, but was never occupied. It includes 24 units
and has space for 60 additional apartments.
The partnership also purchased the Citadel Arms apartment complex
for $534,500 from Washington Mutual/Chase.
"We couldn't have done it in either case ...