Residents In 50%+ Empty, 500-Unit High-Rise Complex Look Forward To Desperately Needed Repairs As Developer Agrees To Unload Title Onto F'closing Bank

In Cherry Hill, New Jersey, KYW Newsradio 1060 reports:

• Residents of a high-rise apartment complex in Cherry Hill, NJ are hoping that an out-of-court agreement will jump-start renovations that have been left half-done for years. A foreclosure hearing [...] became a moot point when the developer of the twin-tower Grand Apartments, formerly the Landmark Apartments, on Route 70 near I-295, agreed to allow lenders to take over the property. That's according to the head of the tenants' association, Rae Haltzman.

• Haltzman says the lenders will now hire a management company to resume repairs to the exposed wiring and dangling smoke detectors [...]. More than half of the 500 units are currently vacant. Haltzman says the lenders have agreed to start work immediately to fix exposed pipes and wiring in the unfinished hallways, and then they'll prepare a plan to renovate individual units.

For the story, see Cherry Hill Apartment Complex May Be Out of Renovation Limbo.

See also, WPVI-TV Channel 6: NJ high-rise highly frustrating for tenants.