Section of Little Rock apartment complex in foreclosure
LITTLE ROCK (KATV) - While many Arkansans celebrated this 4th of July, it was July fore-closure for a large section of the Valley Heights apartment complex on Cantrell Road.
The owners of 70 units known as Phase Two owed Regions Bank more than $4.7 million.
"We just need some information," said resident Requita Stewart. "We just want to know what's going on, at least, so we'll be prepared."
For some, the foreclosure notice was the last straw. Police have been called out to the complex more than 400 times since 2011 and the city has called the property a public nuisance. Still, Stewart said she felt this latest development came out of nowhere.
"It's frustrating. When they should be sending us letters, letters on our door...they're not."
Residents also have not been given any indication by the bank that they'll be forced out. When we spoke with residents, they said they were just unsettled because they don't know what's next.
The former owners could not be reached for comment on the holiday and their lawyers' offices were closed for July 4th so the future of the property and the management is unclear.
Another owner recently purchased 120 other units at the complex. At this point, it does not look like that purchase will be affected. It should be noted those new owners have already spent a lot of money improving the units they acquired and are in the process of renaming that section "Cantrell Heights."