The seller is the U.S. Department of Housing and UrbanDevelopment, which acquired ownership of the building through adeed in lieu of foreclosure and currently manages the property.
After the PDC acquires the property it will be turned over toKenilworth Park Plaza, Inc. who will continue to operate the Plazaas affordable housing under a Section 8 project basedrentassistance contract. This action is a part of PDC's continuingeffort to preserve section 8 housing that is at risk ofexpiring.
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