The City of Montgomery announced on Monday that four city-owned properties on Dexter Avenue have sold.
The city closed the sale of buildings located at 35, 39, 61 and 67 Dexter Avenue to ELSAJA Dexter LLC. The new owners, principals of MarJam Lumber, will begin a rehabilitation phase of the development projects. The city will also continue to work with MarJam during the rehabilitation phase to ensure that all contractual deadlines are improvements are completed.
"It will be exciting to watch these buildings come back to life," said Mac McLeod, Director of Business and Commercial Development for the City of Montgomery. "Everyone in the Department of Development has worked very hard these last 60 days to make sure that we were able to successfully make it to the closing table. The next few months will be a game changer for downtown Montgomery with additional retail and residential units becoming available in the block of Lower Dexter. This is a big win for the City of Montgomery."
It is also believed that the properties located at 25 and 71 Dexter Avenue will be successfully closed later this month.
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