Lebanon Hill Housing, a 116-unit housing development for the elderly in Southbridge was sold to a Holden corporation for $7.1 million.
The development, where residents are eligible for Housing and Urban Development subsidies, was built on Therese Avenue in 1975 and consists of 13 buildings over 9.5 acres.
Lebanon Hill Housing, LLC of Southbridge sold the property to Lebanon Hill Apartments LLC of Holden on Wednesday, according to the Worcester District Registry of Deeds.
The property was last purchased prior to development, in 1973, by TAG Associates of Southbridge, for $60,000.
The Town of Southbridge last assessed the property for $4 million.
