MEMPHIS, Tenn. — Millennia Properties, owner of Serenity Towers, will not be providing any additional financial support to the struggling property.
The announcement came Tuesday, when the company's lawyer disclosed that Serenity Towers is at risk of having its utilities shut off by MLGW on Dec. 4 due to unpaid bills.
If the utility cut-off proceeds, an estimated 140 to 150 residents would lose power.
City attorneys confirmed that they were made aware of the situation on Tuesday afternoon and are actively working to prevent the power outage.
In court Tuesday, city attorneys also sought permission to place Serenity Towers into receivership, a move that would strip Millennia Properties of full control over the property. The request was agreed to by attorneys for Serenity Towers and entered into court records.
ABC24 also uncovered ongoing issues with the property’s HVAC system and hot water, which continue to malfunction.
“Now that we have authorization, the City of Memphis can look for potential receivers,” Carlissa Shaw, attorney for the city, said. “These receivers would step into the shoes of the owner to address the necessary repairs and manage the property on behalf of the owner.”
The next court hearing is scheduled for Tuesday, Dec. 3.