Alexian Court is now owned by Urban Development Partners, according to a statement.
The facility, the former St. Elmo Elementary School, was renovated in 2003 by previous owners Chattanooga Neighborhood Enterprise Inc. and Chattanooga Community Housing Development Organization with Alexian Brothers of the Southeast. At the time, the organizations announced they had spent $4 million to renovate Alexian Court, with 47 apartments in the old school building and new apartments.
“This move provides a degree of certainty for the residents who live at the property and helps CNE concentrate our energies on lending and educational activities in Chattanooga’s vulnerable neighborhoods,” said Sandra J. Williams, CNE interim executive director.
Lawler Wood, which managed the complex for Alexian, will continue to operate the center for Urban Development. The new name is St. Elmo Court.
Alexian Court is an apartment complex for seniors with low to moderate income, with monthly rent paid by residents. In some cases, payments are subsidized with vouchers by the U.S. Department of Housing and Urban Development.
The Housing Development Organization will start to focus on building affordable homes now, said Rayburn Traughber, the group’s president.
“This is truly a win-win for all of the people who call this place home,” said Jeff Ott, Alexian Village president and CEO.