One of the owners of Aurora’s blighted Edge of Lowry apartment complex, where multiple violent criminal incidents connected to Venezuelan gang Tren de Aragua catapulted the city into the national spotlight, will sell the properties and pay the city $300,000.
In a settlement agreement dated Feb. 10, Five Dallas Partners and Aurora city officials agreed to settle the civil lawsuit brought by the city to avoid “the uncertainty and expense of the lawsuit.”
In exchange for paying the city $300,000 and selling the property, Aurora officials will cancel all liens or summons against Five Dallas Partners, according to the filing.
The company will also hire private security to monitor the properties at 1218, 1238, 1248, 1258 and 1268 North Dallas Street until they are sold or “returned to a commercially viable habitable use” to limit police response to secure the buildings.
The $300,000 payment is “a partial reimbursement for costs the city suffered in responding to, closing, maintaining and securing the buildings in the company’s absence over the last two years,” Aurora city officials said in a statement.
“The agreement the city reached with Five Dallas Partners is a resolution that is amenable for both parties to avoid the risk and costs associated with a jury trial and to position the company’s property to be sold to new independent ownership,” Aurora officials said.
An attorney for Five Dallas Partners could not immediately be reached for comment.
A sixth building at Edge of Lowry is under different ownership and still in a receivership, city officials said.
The settlement is separate from the ongoing criminal case against CBZ Management, the company that managed the apartments and is accused of failing to maintain safe housing conditions, insurance fraud and deceptive practices.
This is a developing story and will be updated.
Sign up to get crime news sent straight to your inbox each day.
The post Owners of blighted Edge of Lowry apartments settle Aurora lawsuit, agree to sell appeared first on Denver Post
