The former Greyhound property in downtown Bakersfield will be redeveloped as high-end rental housing under a partnership between a local developer and the family that owns the property, one of the parties confirmed Monday.

Sage Equities, developer of three existing apartment communities on the opposite side of Chester Avenue, said it will develop and manage the 42-unit project dubbed Greyhound Flats under a joint venture with the Mojibi family, which bought the 0.7-acre property northeast of F and 18th streets in 2020.

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