INDIANAPOLIS — The last three properties owned by JPC Affordable Housing in Marion County were sold to new ownership Thursday evening, according to city officials.
Officials have not said who is the new owner of Capital Place, Woods at Oak Crossing, and Covington Square.
In December 2022, the sale of Berkley Commons, another property owned by JPC Affordable Housing, was finalized, and the City of Indianapolis received the payment it was guaranteed under its settlement agreement as part of that transaction.
Indianapolis Mayor Joe Hogsett shared the following statement on Thursday evening's sale:
“The sale of these buildings is a victory for tenants, who too often faced the threat of eviction because of an irresponsible landlord. I want to thank the many partners who came together to right this wrong, including the State Attorney General’s Office, Citizens Energy Group, elected officials at the state and local level, and neighborhood advocates. The City of Indianapolis will continue to do whatever is in our power to protect tenants and families.”
Citizens Energy Group had planned to disconnect water and gas services at the four apartment complexes on Sept. 30 over delinquent bills. Nearly 1,200 units and about 3,000 people would have been impacts, according to a Citizens spokesperson.
Citizens said in July that JPC Affordable Housing and Berkley Commons were not paying more than $1.7 million in utility bills despite collecting rent from tenants that includes funds intended to cover utilities.
Citizens also said in July that it had worked for 18 months with the apartment complex owners to reach a repayment deal.
It was the city's $850,000 payment to Citizens Energy Group in February that kept the water on for residents.
Under the agreement announced Sept. 8, water and gas services stayed on for the residents of the four apartment complexes while a new owner was found. The new owner had to be an independent third party and could not be connected to any of the current owners.
JPC is also not allowed to add new businesses in the state for several years.
