LINCOLN, Neb. (AP) — A trailer park that’s been home to several down-on-their-luck Lincoln residents has been sold and will be razed to make way for a parking lot for college students.

The Arrow Mobile Home Court was sold earlier this month to a limited liability company run by an Indiana-based business that specializes in building and managing student housing complexes. Trinitas Ventures plans to turn the trailer park into an offsite parking lot for residents of the seven-story student housing complex that it’s building at a different site.

The property and two adjacent lots were purchased June 17 for nearly $800,000 from trailer park owner Gary Nicholsen.

The trailers and other buildings will be cleared beginning Aug. 1.