Residents of South Ridge Apartments have a grim choice to make – pay $290 more per month for rent or find another place to live. The residents learned of this in a non-renewal notice regarding their lease agreements. The rate increase amounts to 80% higher cost per apartment, per month.
At least part of the complex was designated as low-income housing, and has received federal funding over the years. Partner station WBRY has learned that the new owner of the complex is HMS Associates Acquisition LLC, Series Tennessee. The company is based in Tulsa, Oklahoma.
Source: Story by Partner Station WBRY in Woodbury, TN