A couple days ago we just had a post on the fact that Champaign and Urbana have an abundance of expensive student housing and very little availability for low income and the working poor. Add to that today's news that the Housing Authority is selling Skelton Place, currently used to provide affordable housing to a realtor that plans on turning it into student housing. From Yesterday's News-Gazette:
Housing authority's Campustown complex to become student apartmentsMore at the full article here.
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The Housing Authority of Champaign County is selling its former Skelton Place facility to Green Street Realty and has been moving residents to new locations.
"We sold it to Green Street Realty for $5 million," said David Northern, the housing authority's CEO. "It was used for traditional public housing, built in 1967, with 84 units. It was a mixed-used building with seniors and people with special needs."
Green Street Realty plans to convert the eight-story building at 302 S. Second St., C, to student apartments, owner Chris Saunders said...
The housing authority sold Skelton Place to help finance a new building it's constructing on the north end of town near Interstate Drive and Toalson Lane.
"That will start in the fall, with an 18-month build-out period," Northern said. "We will have 96 senior units and 24 permanent supportive housing units for individuals with special needs."
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