The premier luxury apartment complex in Danbury, Kennedy Flats has been sold to a Los Angeles investment firm.

Is this good or bad news for downtown Danbury? According to the NewsTimes, Greystar, which developed Kennedy Flats was the seller but will remain the property managers. According to the NewsTimes, the papers were signed on Thursday and Lowe Enterprises Investors are now the new owners.

This is neither good or bad news for Danbury. The sale of Kennedy Flats continues a trend in Danbury of large complexes being sold and then rebranded. The same type of deal has been worked with Willow Grove, Hillcroft at Danbury, and Avalon Danbury.

NewsTimes Building in Danbury - Google Instant Streetview

Danbury based BRT Corp. has plans in the works to build a 150-unit apartment complex across the street from Kennedy Flats on Main St. in Danbury on the site of the old NewsTimes headquarters building.