Urban League, city take title to apartments

After 18 months of planning and negotiating, the Urban League of Northeastern New York Inc. and the Albany Housing Authority officially have become the joint owners of the Dudley Park apartment complex in the city of Albany. The new owners took title after a foreclosure sale in Albany by the U.S. Department of Housing and Urban Development. The former owner, a private company based in Florida, had defaulted on its mortgage with HUD. The partnership that now owns Dudley Park plans an extensive renovation of the deteriorated complex, reducing the number of apartments and increasing green space and other amenities. The goal of the rehabilitation project is to have the tenants eventually purchase their apartments.

From the Albany Business Journal