CPP Completes $35.6M Rehabilitation of Affordable Housing Community Near Sacramento
ANTELOPE, CALIF. — Community Preservation Partners (CPP) has completed the rehabilitation of Danbury Park Apartments, a 140-unit affordable housing community in Antelope, approximately 15 miles north of Sacramento. Located at 7840 Walerga Road, the community consists of 84 two-bedroom and 56 three-bedroom apartments. The $35.6 million rehabilitation includes an $18.5 million purchase and nearly $5 […]
CPP Announces Purchase, Renovations for Royal Arms
The California based company Community Preservation Partners has officially announced its purchase of the Royal Arms apartments in Front Royal and plans for the property over time. CPP is an affordable housing rehabilitation company that owns more than 7,200 units and has over $1.5 billion invested in communities across the United States. Its $9.5 million […]
Community Preservation Partners Buys Downtown San Jose’s Lenzen Square Apartments for $20.75MM
A subsidiary of Irvine, Calif.-based property management company WNC Inc., Community Preservation Partners (CPP) is fulfilling its mission to became more actively involved in the Bay Area with the recent acquisition of downtown San Jose’s Lenzen Square apartment complex. CPP bought the 88-unit community, located at 790 Lenzen Ave., from Lenzen Housing L.P., an entity […]
Affordable VA Community Commands $10M
Community Preservation Partners (CPP) has expanded its East Coast portfolio by 144 units following the acquisition of Royal Arms in Front Royal, Va. The 9.5 million transaction marked the rehabilitation company’s second purchase of an affordable housing property in the state. Last year, CPP acquired The Belt Atlantic in Richmond, where it began a substantial […]
Boston’s Affordable Housing Market: An Insider’s View
Five years ago, Boston Mayor Martin Walsh released a comprehensive plan designed to address the housing needs of the city’s growing population. Local authorities talked about the necessity to create 53,000 new units of housing for various income levels by 2030. In 2018, the figures were updated because the population was growing faster than expected—Boston’s […]
N.Y. Senior Housing Development to be Rehabbed
Community Preservation Partners (CPP) announced that it has secured financing for a major renovation of a 206- unit senior housing community in Rochester, N.Y. The rehabilitation is underway in partnership with Rochester’s Cornerstone Group, a Rochester-based developer which will serve as co-developer and the community’s property manager. “We are excited about our new partnership in […]