As with most of our acquisition rehabilitation projects, the Towne Avenue community was targeted by the City due to it being the worst in terms for calls for service and types of service by the Police and Code Enforcement departments. It was in a state of blight and disrepair and had numerous code and health and safety violations. It had also defaulted on its HUD loan and was in foreclosure.

The Opportune Companies negotiated the property out of foreclosure and performed a complete rehabilitation and transformed this community into a beautiful, secure and safe environment. Through Opportune Companies proactive management, procedures and policies, the criminal element was eliminated and the community was stabilized. Calls for service have been virtually non-existent.

New asphalt slurry, roofing, siding, patios and balconies, painting, landscaping, other aesthetic and exterior improvements were completed to improve the appearance of the property and to create a sense of pride among the residents. Complete interior renovation work was also performed restoring the effective life of the property.

Approximately only 20% of the original residents were able to meet the crime and drug free residency requirement and comply with their leases and make timely rent payments. The majority of the residents had to be evicted due to criminal activity and numerous lease violations.

Towne Avenue is a 26 home, family community that is comprised of: 3, one bedroom, 21, two bedroom and 2, three bedroom homes. The homes are provided to families whose income ranges as follows:
31% are at 50%, 23% are at low Home and 46% are at low-mod of the area median income.