Residents of Riverview Manor and Willow Village may see some changes in their homes in the future.

The Sharon rental units on Connelly Boulevard and Budd Street are being bought by GH Capital LLC, Encino, Calif.

The properties will be renovated and, though they are being sold, there are no plans to displace the current residents, said Phil Friday, spokesman for the Pennsylvania Housing Finance Agency.

GH Capital buys older, government-subsidized rental properties and renovates them, Friday said. He said the company has done many jobs in the West, 10 in Ohio and is now moving into Pennsylvania.

GH Capital is asking the state, through the Housing Finance Agency, to issue what is called a private activity bond for the project, Friday said. He explained that a federal law allows states to issue the private activity bonds for things such as industrial development, student loans and housing.

"We (the Housing Finance Agency) don't give them the money. We give them the authority to issue the bond to use the proceeds to buy and rehabilitate the place," Friday said.

Friday said GH Capital has a good reputation and both Riverview Manor and Willow Village are well-maintained, viable places. "It looks like a good match. The company seems to know what it's doing," Friday said.

Riverview Manor was developed in the 1970s as a Housing and Urban Development program as housing for the elderly, Friday said. It has 123 apartments.

Willow Village was also built in the 1970s for general occupancy, Friday said. There are 100 apartments on the property.