Chateau du Lac to Receive Upgrades

March 13, 2007

Reported by: American Press

A property development group has bought the Chateu du Lac building. The group is spending more than $4 million to fix it up for it's low income residents.

The new buyers bought the building for $1 million from Gary Gibbs of Tennessee.

The deal was put on hold back in 2005 because of Hurricane Rita.

When the repairs are finished, the apartments will feature bedroom air conditioning, new kitchens and flooring, and refurbished public areas.

According to one of the groups members, the deal was completed wtih help from the U.S. Department of Housing and Urban Development, the Lake Charles Housing Authority, and the Louisiana Housing Finance Agency.