Run-down complex will go condo [Central Florida]
Families who thought homeownership was out of their financial reach may have a chance to buy a place for less than half the average price of a new home in Lake County.
The City Commission has agreed to spend $2 million to renovate the run-down Kristen Court apartment complex, which city officials have taken over in hopes of ridding the neighborhood of drugs and crime.
Once the renovations to the 59-unit complex are complete, city officials will put the units up for sale. The selling price for a three-bedroom, one-bathroom condo: $106,000.
“For a new unit, that’s almost unheard of,” said Ken Thomas, Leesburg’s housing and economic-development director.