01 Oct
Posted by Julia Redstone as Foreclosures

Real estate has become cursed by the blight of vacant apartments right across USA. It is no exception in Northland View. The buildings are boarded up. City officials are looking for appropriate developers. On Tamarack Boulevard there are ten deserted apartment properties. The parking lots sans cars are littered with shreds of broken glass.
Close to it work is going is proceeding on $30 million plan to give the healing touch to Morse Road. The aim is to bring about some stability in the region that has been devastated by the shutting down of Northland Mall in 2002.
The local residents and business community are lauding the road project nursing hopes that people will turn up and show renewed interest in Northland View apartments.
The Northland region has acres of land with apartment properties that had come up during the 60’s and 70’s. Some are still shining but most of the others are running to seed. These have become havens for criminals.
Northland Vies is a symbol of the lingering devastation that can swallow an area following the shutting down of a mall. Rob Vogt of VMB Research said, “One project like that can really screw up an area.” The firm made an assessment of the housing market of the city in this current year.
In 1977 the complex comprising of town houses was developed by Loyal Peterman but was sold in 2000 when Northland Mall showed signs of dying. Peterman said that the impending death of the mall compelled him to take the step. For more than a year the houses have been boarded up.
The manager of the neighbouring Northland Arms apartments, Eddie Soto, said that the vacant units made it difficult for him to get tenants. Northland View has become an eye sore and not helping the realtors either. Local agent Linda Niemann thinks, “It is discouraging for the people who live there, not knowing what’s happening.”
There are 78 vacant apartments and it seems that these will remain in this condition for quite some time. US Bank purchased these and other adjacent properties at a court sale for $4.1 million said Anthony J. Frissora the deputy auditor of Franklin County. The previous owner had bought these 45 parcels by paying $11.3 million in 2003.
Columbus city marked he area as a risky locality basing its findings on the income of residents and vulnerability to foreclosures and vacancy. In this condition the complex is eligible to take a slice of funds coming from the federal government.