Video: Tupelo Council Buys Apartment Complex for More Than $2.1 Million
TUPELO, Miss. (WCBI) — The City of Tupelo is quickly becoming one of the biggest landlords in its own town.
Council members voted to buy an Ida Street Apartment Complex for just over $2.1 million.
The 220 unit Azalea Gardens Complex purchase marks the first time the city has bought residential property outside the West Jackson Redevelopment zone.
Money for the project is coming from city reserve funds.
No formal plans for the property have been announced, but current residents will not be asked to leave at this time.