real estate

Owner Will Repair Apartment Building Damaged By Landslide

A building housing 16 units at the Lakefront Apartments has been declared uninhabitable by the City of Granbury.

The units are located in the building which now sits on the edge of a hill wiped out by Friday's landslide.

"Yes, its is true that the building isn't habitable. Once that determination is made, it is a private property issue," said Sheri Campbell-Husband, the Assistant City Manager in Granbury.

"Two other homes that were of concern have been deemed safe enough for owners to go back in. They, too, will need to work with their insurance companies to determine what repairs are needed."

Wade Parrish bought the Lakefront Apartment building in 2007. He made renovations and had plans to retire with the rental income.

"I visualized it being paid off and being able to have a monthly cash flow that would be substantial, but I think we're a long away from that," Parrish said. "I did the wrong thing and fell in love with a piece of real estate."

Eight units in a separate building have been declared safe, Parrish said. He plans on hiring a structural engineer to assess the damaged apartment building with the lake front view.

"It's just amazing, the power and the force of mother nature," Parrish said. "It looks like a bomb went off. It like something you see in a war zone."

Parrish estimates a $1 million repair, but he said his insurance company denied his claim.

Parrish is asking for the public's help through his GoFundMe account.

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