MEMPHIS, Tenn. — Representatives for Serenity trustees and the city appeared in court Tuesday morning to discuss the game plan moving forward for the now-empty apartments on Highland.
After closing its doors in May, people’s tax dollars are still being used to maintain the property.
“There’s been a lot of money spent just getting that building in a position where it could be safe for the residents to even stay while they were being moved,” said Marcus Ward, special master assigned to Serenity Towers.
Recently, the last of nearly 145 people living at Serenity moved out.
But what’s next is still unclear.
Ward said several options are up for consideration for the bondholders, who are essentially the shareholders.
“Working on a plan now that will result in either in the sell, the rehabilitation or the redevelopment of the property,” he said.
“It’s a ball that’s rolling forward, the clients would like to have their folks on the ground next week to look at things,” said Martin Tate, a trustee of Serenity.
Carlissa Shaw, an attorney with the city, was in agreement with the progress being made.
“We are moving forward, I believe they just want additional due diligence period,” she said.
And with that, a continuance was granted.
“We will reset it, you said September 2 at 9 a.m.? Alright,” said Judge Patrick Dandridge.