The Pennington Place Apartments were an eyesore for years: abandoned and abused by transients and criminals, a thorn in the side of the Woodhill neighborhood.
In 2012, the property, built in 1970 just east of the New Circle Road interchange at Richmond Road, was sold to The Barrington Group, based in Sarasota, Fla. Before that, the property, which had been known as English Manor and various other names, had been slated to be sold at a foreclosure auction to pay city government for a long list of code violations.
The complex, which sold for $2.1 million, is now in turnaround and leasing again.
It will be a gated community, with key-fob access to buildings. The buildings have been painted inside and out, and balconies, stainless appliances and brushed nickel light fixtures have been added. Each unit has hookups for washers and dryers.
Monthly rents range from $685 to $900.
The balconies "have been a real seller," said Rhonda Collins, the complex's community manager.
Twelve buildings from the complex were torn down. The new complex has 300 apartments in 25 buildings, hence the new name, 300 at the Circle.
It will also have two playgrounds, a pool and a dog park.
Collins said that all electrical systems, plumbing and kitchens were redone. Some of the kitchens had islands installed.
In 2012, when Barrington bought the complex, president and founder Larry Lieberman said that the company had started buying boarded-up properties in the 1990s to convert them.
The company's website, Barringtonusa.com, says that it specializes in multi-family housing, including major renovation, minor renovation and finding new products for markets, such as aging baby boomers who no longer want the hassles of home ownership and upkeep and are looking to rent.
At 300 at the Circle, 57 apartments are already occupied, Collins said. Tenants must be 21 or older; pets are allowed, although there are breed restrictions and weight limits.
Cheryl Truman: (859) 231-3202. Twitter: @CherylTruman.