The apartment complex on North Decatur Road was a victim of the real estate bust.
DeKalb County government acquired the 7.5-acre site for $247,000 by paying off back taxes on the abandoned property.
The previous owner’s redevelopment project failed during the collapse of the real estate market and the abandoned property deteriorated beyond repair.
The funds to acquire the property, which has frontage on Rockbridge Road, came from Commission District 6 reserve funds.
Commissioner Kathie Gannon, who represents the district, called the price “a relative bargain.”
“In the near future we will have stabilized this community and added a recreation amenity for the citizens of central DeKalb County and District 6,” she said.
Gannon said the county will use federal Neighborhood Stabilization Funds to demolish the buildings and haul away the debris and that the county’s Recreation and Parks Department will engage the surrounding neighborhood in plans for the property.
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