TUCSON, Ariz. (KGUN) — As one of Tucson's largest student housing complexes, Sol y Luna towers over the University of Arizona's campus.
"It's overall a beautiful campus. I love it, but it is sometimes a little bit dangerous," said Sol y Luna resident, Caitlin Brown.
Caitlin Brown and Tristan Martin have lived at Sol y Luna for the last two years.
"At the beginning of the year, it was pretty bad. There was a lot of trash all around," said Martin.
"There is a lot of crime that happens, especially around these streets," said Brown.
Back in August, the complex faced a potential shutdown due to several code violations. In addition, residents have even been caught dropping various objects off balconies for the last several years.
"Our goal is to lift the entire community and bring it back to its glory days," said Vesper Holdings Chief Marketing Officer, Jessica Nix.
The New York City-based company, Vesper Holdings, purchased Sol y Luna for $203 Million. The company owns and manages 52 properties across the United States. This is their first property in Arizona.
"We really think that our improvement in operations, holding people to the rules and operations, making sure that we do thorough checks of residents who choose to use Sol y Luna as their home, along with elevating the property to a higher standard, will eliminate some of the negativity that has happened recently," said Nix.
Nix said over $7 Million will go towards improving the property.
"We are going to redefine the property so students know that it is the best located, the best value and they get more for their dollar when they live with us," said Nix.
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