Local commercial real estate developer hoping to purchase many houses owned by 417 Rentals

By  | 

SPRINGFIELD, Mo. -- Enterprise Commercial Group hopes to take over more than 200 hundred homes owned by Chris Gatley’s 417 Rentals. The foreclosure process for most of these houses will be finalized Thursday and Friday next week.

Jamie Thomas, Enterprise Commercial Group Vice President, says they plan to remodel and redo the homes which are in desperate need of repairs. While repairs are being made, tenants will have to live somewhere else. The group brainstormed with local non-profits about where tenants could live while repairs are being made.

Those with Enterprise plan to work with tenants and honor their leases. In the case, the tenant does not have a lease they will be asked to reapply to live in the property. Thomas says they will make exceptions, like overlooking credit scores. However, they will not accept tenants with pit bulls.

"Our goal is to stabilize these properties," Titus Williams, Enterprise Commerical Group President, said. "At the end of the day, we could own around 200 of those assets."

Williams tells KY3/KSPR their ultimate goal is to keep people in their homes and build stronger communities.

Community Partnership of the Ozarks will host a 417 Rentals Tenant Event Friday, April 26 from 2 p.m. to 6 p.m. and Saturday, April 27 from 9 a.m. to 3 p.m. at the Dream Center, 829 W. Atlantic. To RSVP, call 417-225-7499.

During the event, you will be able to talk to a lawyer and learn about additional resources.