The Sunrise Valley Apartments in Lancaster
have been sold. The Board for the Lancaster
Housing Authority has accepted an offer from
Wisconsin Management Company Incorporated
of Madison. Under the terms of the offer,
Wisconsin Management Company will
assume the debt of the property, which is
over $1-million. It will also release the
City of Lancaster as the backer of that
debt, in case of default. Estimated purchase
price is just over $1-million, and the sale should
close sometime this Spring. Sunrise Valley
consists of housing for senior citizens, and for
the elderly with low income.
The sale could open the way for renovations that
were proposed for the apartment complext,
last year.
