Multifamily investment firm Lurin Capital, led by Jon Venetos, is facing a lawsuit from the city of Huntsville, Alabama over alleged neglect at one of its properties. The suit, filed in Madison County Circuit Court on January 2, claims that Lurin has abandoned The Flats at Redstone, a 231-unit apartment complex located at 2022 Golf Road.
According to the complaint, the property has been vacant for two years and lacks utility service. The city alleges that windows and doors are missing, exteriors are boarded up, weeds are overgrown, siding is falling off buildings, a metal playset is in poor condition and the pool contains dirty water. The lawsuit states: “The condition poses a substantial risk of illness or injury to anyone who enters the property.”
Huntsville officials first reported unsafe conditions at the site in February 2022. While Lurin obtained building permits for improvements after that time, the city claims not all work was completed. In August 2025, Huntsville sent seven code violation notices to Venetos and gave until December 15 to address them. According to the lawsuit, these issues were not resolved.
The city seeks an injunction requiring Lurin to repair the property and requests that it be sold if violations are not corrected.
This legal action comes as residents at another Lurin-owned property in Huntsville—The Sutton at 190 Shelton Road—have reportedly gone days without running water. Local NBC affiliate coverage indicated tenants have used bottled water for basic needs during this period.
Huntsville’s lawsuit adds to mounting legal pressure on Venetos and his company from lenders, vendors and other municipalities regarding unpaid bills and deteriorating conditions across their portfolio. In November 2025, a court ordered residents of a Plano property owned by Lurin Capital to vacate due to lack of water, sewer or gas access.
Legal challenges escalated earlier last year when Acore Capital Mortgage sued Venetos over nearly $400 million in defaulted loans tied to Florida properties. Fannie Mae later filed suit alleging a $77 million default; Vista Bank and Keybank also brought lawsuits citing defaults. In October lawsuits, Acore claimed Venetos personally guaranteed borrowed funds and still owes $81 million.
Venetos’ former office landlord Rosewood Property Group sued him as well for allegedly abandoning his lease at Rosewood Court in Dallas with $5.3 million owed.
Some lawsuits include allegations of fraud. Keybank asserts Venetos transferred funds from business accounts into a personal account totaling $24,570; Vista Bank accuses him of falsifying lender account statements while seeking additional loans elsewhere. Former employees have also accused Lurin Capital of inflating repair costs on loan reimbursement requests and submitting invoices for uncompleted work.
