COLUMBUS – The owners of a troubled East Side apartment complex have been slapped with a $4.3 million fine and the property will be taken over by a court-appointed official, Columbus City Attorney Zach Klein announced Thursday.
Paxe Latitude, owners of the Latitude Five25 Apartments, have been held in contempt of court and fined more than $4.3 million for violating a January court order, and a court-appointed receiver will be stepping in to take over management of the property, Klein said.
Paxe Latitude was ordered to sell the property, keep up with utility payments and make repairs after dozens of tenants were forced to flee their homes on Christmas Day after burst water pipes led to flooding, loss of water and heat, and rendered fire suppression systems and elevators inoperable.
Klein says Paxe failed to sell the property by the required date and obtain necessary permits to begin interior demolition work, which has led to airborne asbestos contamination throughout the building.
Additionally, Paxe failed to reimburse hundreds of displaced tenants and keep up with utility payments, which has rendered the towers unsafe for human occupancy and nearly 200 residents remain in temporary housing at local hotels.
“The ownership group at Latitude Five25 is unfit to continue operation and must be removed,” Klein said.