The Country Village Apartments in Kenedy are up for sale after its group of owners has considered foreclosure, but the apartment manager insists residents have nothing to worry about.

For Cristi Baskerville, it’s business as usual at the two-story apartment complex, despite the business being up for sale with a $4 million price tag.

"Financially we are strong. We have no problems paying our bills, payroll, or making repairs," she said. "The property (owners have) never recovered from a really bad first five years."

Too much money was spent building the complex in 1996 and not enough people were living there when Baskerville took over in 2001.

Part of the problem was the high rent rates combined with the apartment complex’s income cap. Families that made over a certain amount of money per year weren’t allowed to live there, but families that earned under the cap had trouble paying the high rent.

All that changed in 2001 when the cap was removed and rent rates were reduced.

"We reduced rents a bit and included cable (television). The property was a little over 50 percent occupied. By 2003, we were 85 percent occupied and have maintained a waiting list for two-bedroom apartments for almost two years," Baskerville said.

Baskerville said the potential foreclosure and sale will have no effect on residents in the immediate future and that the business is making plenty of money to continue operations the way it has been for the past several years.

The 112-unit, 15-building complex is located on U.S. 181 just north of the old Wal-Mart building. It is the largest of the three multifamily living areas in the city.