The Mill Street Townhomes have been torn down so that construction can begin on a new student apartment complex called Wildwood, The University Star reports. The new complex is expected to open August 15, 2013.
The Dovetail Companies, a developer from Atlanta Georgia, purchased the townhomes from their owner Tim Olwell in July. The eight lots will be added to the area behind the townhomes which Dovetail already purchased. The property’s convenient location, close to campus and on the Bobcat Tram bus route, made it highly desirable for students.
Olwell said most residents just let their leases run out, but he did have to buy a couple of renters out of their leases. Residents were not penalized if they moved out early and if they didn’t owe any back rent, they got their full deposit back. He tried to help people who had to move out before July 1st by giving them extra funds to help them find a new apartment.
The two bedroom, one bath townhomes were popular with young unmarried people with children and retired people, but no Texas State students lived there. The owner says he tried to be as fair as possible with his tenants as they left.