KGNS On Your Side: Laredo Housing Finance Corp. takes over Hamilton Senior Residence

LAREDO, Tex. (KGNS) - The Laredo Housing Finance Corporation is temporarily taking over the Hamilton Senior Residence after the former management company, Capstone Management, ended its contract.

On August 31, 2023, Capstone Management, which had been running the Hamilton hotel since 2001, terminated its contract with the Laredo Housing Finance Corporation due to its inability to fund operations.

Since that time, the City of Laredo has entered into a contract with the corporation to assist with operations to the tune of $65K.

Before Capstone’s departure, KGNS reported on numerous complaints made by Hamilton residents like Larry Blackwell.

Blackwell, who has lived in Hamilton for two years, told KGNS in April 2023 about his complaints after reaching a boiling point with issues like security, air conditioning, and pests.

Fast forward to September, Blackwell and many tenants we spoke to are far from concerned now that the former management company is out and the corporation and city are in.

“Thank you,” said Blackwell. “Absolutely, thank you! We’re glad (the corporation) came. I haven’t talked to anyone that’s disappointed,” he added.

Blackwell said the response time to tenants’ concerns is day and night compared to prior management.

“It’s been operated better. It’s been maintained better, and I’m glad it happened,” he added.

The corporation is now the primary owner of Hamilton.

The city provides support services to the corporation such as funding to help with capital improvements, like repairs to the a/c and other necessary upgrades.

When asked what improvements he’d like to see, Blackwell agreed that the a/c was at the top of his list.

“The air conditioner seems to be in terrible shape. There are some pieces of it that need to be replaced. The other thing is the building itself; the windows are rotting, [and] then, of course, the pest control. The pest control is a big problem here,” Blackwell said.

In a statement to KGNS, the city said it is also helping the corporation seek and obtain a new management company for the Hamilton apartment complex.

The corporation is a non-profit public corporation established by the city’s governing board.

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