JACKSONVILLE, Fla. - The dilapidated Eureka Gardens Apartments and three other federally subsidized housing projects in Jacksonville have a new owner.
Channel 4's news partner Jacksonville Daily Record reported that Millennia Housing Development Ltd. closed on four low-income apartment complexes Oct. 24 for nearly $51 million. One of those complexes is Eureka Gardens, which will become Valencia Way.
The Ohio-based company also purchased Southside Apartments, Moncrief Village and Washington Heights. They will be renamed Palmetto Glen, The Weldon Apartments and Calloway Cove Apartments, respectively.
Millennia plans to spend $17 million renovating Eureka Gardens. Among the improvements planned are new windows and doors; new furnaces and central air conditioning units; new plumbing, countertops and cabinets; new stairwells, porches and balcony configurations; and additional gas shutoff valves to enable them to fix a small gas leak without turning off gas to the entire complex.
Total purchase: $50,989,999
There are also plans to beautify the grounds with new gardens, walking paths and playgrounds.
The renovation process is expected to take 22 months, during which apartments will be worked on in groups of 24. Residents whose apartments are being renovated will live on the property in two buildings that are being renovated first and will be set up like a hotel with furnished rooms.
Residents' personal furniture and other belongings will be placed in portable storage units and stored off-site during the renovations. Work on each group of 24 units is expected to take five weeks.
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