x

Construction Underway for Unfinished Brownsville Apartment Complex

2 years 11 months 4 weeks ago Thursday, March 02 2017 Mar 2, 2017 March 02, 2017 5:10 PM March 02, 2017 in News

BROWNSVILLE – Two abandoned properties, seized by the U.S. government several years ago, will soon receive a makeover after a group purchased them.

The unfinished apartment complex was boarded up and surrounded by overgrown weeds for years. It sits off the well-known commercial area, “Four Corners” off 14th Street in Brownsville.

The vacant building hasn’t gone unnoticed by area residents.

“It’s a shame, it’s been a shame (to have them there abandoned). People used to break into them and stay there. It would be better to have people living there,” nearby resident Rosalinda Gutierrez said.

She and others may soon see changes to the property.

A group listed as “Apex Atlas Investments, LLC” bought the property and another property with abandoned apartments, just a block away, in an auction by the Department of U.S. Treasury.

They paid nearly $2.7 million, according to the group’s legal counsel Mili Shaw.

“Brownsville has given them a lot so they want to give back to Brownsville. I don’t think it’s really a question of money, it’s a question of truly developing it into a quality, residential area that can attract many people who are living here already. Or people that may be coming down for these projects like Space X, LNG or even university students,” Shaw said.

These were just two of about a dozen properties that the U.S. government seized in 2014 from the former Mexican State of Coahuila Secretary of Finance Hector Villarreal Hernandez.

According to the federal court documents, he embezzled money from the Mexican state, after being appointed to the position in 2008.

He spent about $800,000 on the apartment complex and just under half-a-million on the 10-unit complex.

Shaw said the plan is to take up construction at the property by the summer or sooner.

“We’re estimating around 112 units, luxury apartments catering to all members of the community. Working professionals, students, families, a lifestyle apartment complex,” she said.

Residents said they’re just glad something is being done to revamp the area.

“It’ll reduce crime because, like I said, the homeless stay there and break into the houses to get something to sell,” Mr. Munoz said.

“There’s going to be more traffic now at the Four Corners,” Gutierrez said.

They’ll prepare for the possibility of that traffic.

More News

Radar
7 Days