New York Towne House owner: High-rise will remain affordable
A New York-based company that last month purchased the York Towne House has assured the property will remain low-income housing and no jobs will be lost.
Little details of the company were available at the time of purchase. But Cody Langeness, president of New York City-based Red Stone Partners, said there was a miscommunication with the broker, and the company never intended to remain anonymous at the time of the $19 million purchase.
"It's a really nice property," Langeness said. "We're going to hold it and keep it affordable."
Red Stone has been in businesses since 2002. Since its creation, it has invested in about 50,000 properties, many of which are Section 8 properties.
Langeness said the rent at the property at 200 N. Duke St. serving seniors and the disabled will remain the same, all local employees will keep their jobs and the only change will be minor renovations.
In January, a spokeswoman for Dane Real Estate, a New York-based broker, said Red Stone wanted to remain anonymous.
The York Dispatch was only able to find details of a registered agent company, which takes care of tax and legal documents for businesses such as Red Stone.
Langeness, however, said there must have been a miscommunication.
The company did not know a reporter had attempted to reach out until after the article was published on Jan. 30, Langeness said.
— Logan Hullinger can be reached at firstname.lastname@example.org or via Twitter at @LoganHullYD.