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Bon Air and Richmond Summit Sell for $24 Million. Don’t Expect Immediate Change.

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The Bon Air and Richmond Summit Apartment complexes both sold recently to Redwood Housing out of Redwood, Texas. The Bon Air sold for $15.25 million and Richmond Summit's sold for $9.5 million.

Both properties were previously hotels and are on the national historical register. Locally, Historic ...

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2 COMMENTS

  1. You didn’t even mention the period of the 60’s to the ’80s when the Bon Air was run as a successful Retirement home by J. C. Bible Jr. . He sold it only because they offered him the same profit in the sale as he would make over 10 years, which he couldn’t turn down. Government subsidies raised the value then and now to the unbelievable, because all you are really buying is the government-provided tax breaks along with the headache of managing the people who they attract.

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