Published: Thursday, June 17, 2010

Staff Reports
Madison Magazine

Changes are underway at a Madison apartment complex that was the center of attention last fall. The apartments are located off Wall Triana in Madison. The property, formerly known as Paradise Apartments is now under new ownership and is now called Spencer Trace of Madison.

The apartments are also undergoing a lot of cleanup and remodeling, including mold remediation, landscaping, and stripping the apartments of bad appliances and floor covering and fixtures.  Management Enterprise Development and Services, Inc. (MEDS) was selected last year as the new owner of Paradise Apartments.

The Department of Housing and Urban Development took possession of the property in 2008 after the owners defaulted on a HUD loan. HUD then sold it to the city for $1. It has been estimated that costs to renovate the complex would be over $1 million.