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Española company buys troubled apartment complex

Sep. 22—A blighted, crime-plagued apartment complex in Española that faced an uncertain future — as did its remaining tenants — has a new owner that vows to make it more livable.

Manzana Villa Española Valley LLC, a company formed by local residents, bought La Vista Del Rio Apartments for an undisclosed sum.

Crews already have begun fixing up the complex, which has fallen into bleak disrepair since it was built in the late 1970s, becoming a hub for criminal activity, squatters and drug abuse.

The complex will be renamed after the company — the Manzana Villa Española Valley Apartments.

CEO James Gomez hopes that aside from a new name, he can give the complex a new life.

"I've seen it over the past 20 years slowly fall by the wayside," said Gomez, who lives near the complex. "Criminals flocked to it. So it was definitely time for a change there, not only for myself but for our neighbors, and just the rest of the community."

Gomez estimates it will cost $3 million to $4 million to renovate it. Many of the units are in dismal condition — barely livable, he said.

"It was gut-wrenching for me, walking through some of the apartments to know there actually are people that live like that," Gomez said.

He said he grew up in a low-income neighborhood in Compton, near Los Angeles. Now that he's in a strong financial position, he wants to help those who are struggling.

He wouldn't say what he paid for the 49 units, other than it was more than the $500,000 the city of Española had agreed to pay the former owner, Wyoming-based Bosley Management, before backing out of the deal.

Santa Fe County later expressed interest in buying the property, but decided against following through.

County Commissioner Justin Greene said he was "cautiously optimistic" about new owners taking over the troubled complex.

Having local owners who are invested in the community is better than an out-of-state landlord who seemed mostly interested in collecting rent, Greene said.

"It seems like they're the right people, at least in their hearts," Greene said. "But we'd like to see it in action."

Roughly a dozen apartments are still occupied, Gomez said, adding he plans to freeze the rents for those tenants. If they live in subpar units, he will move them later to refurbished apartments at no additional cost, he said.

Gomez said he is working with the U.S. Department of Agriculture to continue receiving subsidies for the remaining tenants for 180 days, and after that, he's on his own.