Originally built in 1973, and last renovated in 2003 with 4 percent bonds and tax credits, the 206-unit Cedarwood Towers Apartments was acquired in 2018 by CPP and its co-developer Rochester’s Cornerstone Group. Desperately in need of repairs, the community was an affordable housing senior community with two 11-story towers.
In one year, the development team completely transformed the community with improved units and enhanced common areas with market-rate amenities and technology. The investment has enabled CPP to extend affordability for an additional 30 years, providing residents with peace of mind that they won’t be priced out of their homes.