After multiple talks with our area manager, we were finally able to get rents reduced by about $50-$75 so traffic has slowly started to pick back up, and I have a few solid leads to hopefully close on In the next few days. I also went to a different property called Castle apartments for a day just to see what it was like, and it was quite the experience. Castle apartments is a low-income apartment complex that Weidner owns and it is also in a rougher area with a lot of homelessness. As a by-product of this homeless will break into the buildings because the doors are not very good, you can quite literally open them without a key. There is also a drug problem within the apartment community, a majority of which is coming from a tri-plex crossed the street from the complex. The 24hr security has a lot of evidence to back this up as well, all of which has been turned over to anchorage police however they refuse to do anything about it. This has led management to track who is letting in the dealers from across the street and try to weed out the bad apples that way. It’s very much an uphill battle however over time they hope to turn the property around and abolish the drug problems that are within the apartment community.
