SUBJECT/RECOMMENDATION:
Title
Staff update regarding the recent sale of Prospect Towers (WSO)
Body
SUMMARY:
Prospect Towers, located at 801 Chestnut Street, is a 208-unit apartment community that has historically been reserved for senior living at affordable rates. The property sold to a private investor on May 26, 2020. Staff will provide an update regarding the new owner’s plans for the property and how existing tenants may be affected.