The $3.6-million King Drive Courts Condominiums will be built in three buildings of eight units each from 6029 S. King Dr. to 6035 S. King Dr. Units will sell for $175,000 to $260,000. The city council's committee on housing and real estate recently approved the sale of the city-owned parcels to Gardner's It's Real, Inc. for their appraised value of $121,000.
"The project is a long time coming," says 20th Ward Alderman Arenda Troutman.
Meanwhile, a developer is paying $230,000 to buy a 17,682-sf parcel at 6200 S. Ellis Ave. in the Woodlawn neighborhood on the city's South Side, with plans to build 10 townhomes. The developer is getting no city assistance for the $2.5-million project, which includes three-bedroom units being sold at market rates.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
