TROY, N.Y. – SEFCU, formerly known as State Employees FCU, has filed to foreclose on 26 properties owned by Campus Habitat, a student housing development.
The credit union is planning to sell the properties, which were occupied by students at Rensselaer Polytechnic Institute, on Nov. 30 at auction in the lobby of the Rensselaer County Courthouse.
The owner of the properties, Troy Property Group, has sued the college and is alleging RPI drove off student tenants by sending out an emergency notification last January notifying students that Campus Habitat was having financial troubles. It informed students the company had not paid mortgage payments, utility bills and real estate taxes to its lenders for several months while also alleging there was no property manager on the ground to look over the area.
