CPP Partners With Rochester’s Cornerstone Group to Preserve Affordable Housing in Erie
Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, today announced its acquisition of Methodist Towers in Erie, a 13-floor high-rise affordable housing complex comprising of 138 senior units (55+), 57 of which receive subsidy under a Section-8 HAP contract. The renovation will be a tenant in-place rehabilitation with minimal displacement for residents. CPP […]
CPP to Preserve Affordable Housing in Torrington
Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, today announced its acquisition of the Woodland Hills Apartments, 14 garden-style buildings on 19 acres with 176 units, which receive subsidy under a Section-8 HAP contract. Located at 330 Highland Avenue in Torrington, Conn., the units are income-restricted to family households at 50% of area […]
CPP Housing Joins with Local Hawaii Partners to Preserve Affordable Housing in Honolulu
Community Preservation Partners (CPP), a mission-driven affordable housing preservation developer, today announced its acquisition of the Smith-Beretania Apartments in Honolulu, a 22-floor high-rise affordable housing complex that houses 164 one- and two-bedroom units, all of which receive subsidy under a Section-8 HAP contract. CPP partnered with local lenders, BlackSand Capital, a Hawaii real estate private […]
CPP Housing Expands Portfolio to Arizona With Completion of Three Affordable Housing Communities
Community Preservation Partners (CPP), one of the nation’s most active affordable housing preservation developers, today announced completed renovations on three family-focused communities in Arizona: Buckeye Villa (Buckeye), Morningside Villa (Phoenix) and Tempe Villa (Tempe). CPP acquired the HUD Section 8 properties in February for $30 million, bringing them into the low-income housing tax credit (LIHTC) […]
CPP Housing Undergoes $46.3 Million Affordable Housing Project in Raleigh, North Carolina
Community Preservation Partners (CPP), one of the nation’s most active affordable housing preservation developers, today announced the acquisition of Chandler Ridge Apartments, a 228-unit mixed-income community in Raleigh, North Carolina for $26 million. Purchased with 4% low-income tax credit equity, the deal preserves affordability for those earning 60% AMI or lower for an additional 30 […]
CPP Hires Tom Gibson and Michael Anderson in Virginia to Support East Coast Growth
National affordable housing authority Community Preservation Partners has hired two affordable housing specialists, Tom Gibson and Michael Anderson, to support the growth of its East Coast division and the company’s efforts to obtain and preserve affordable communities across the United States. Gibson joins the firm as senior development manager and Anderson joins as senior acquisitions […]
CPP Expands East Coast Portfolio, Bolsters Team with Emerging Affordable Housing Leaders
Community Preservation Partners (CPP Housing), the nation’s third most active preservation developer, today announced the addition of two affordable housing specialists, Tom Gibson, senior development manager, and Michael Anderson, senior acquisitions associate, to support the growth of its East Coast division and the company’s dedicated efforts to obtain and preserve affordable communities across the United […]
CPP Acquires Affordable Housing Community in Sacramento
Community Preservation Partners (CPP) is investing $9.5 million to preserve an affordable housing community in Sacramento, California. The national affordable housing developer announced that it has acquired Grand Ave Villa in the city’s Del Paso Heights neighborhood. Built in 1974, the 18-unit apartment complex is CPP’s smallest holding and its first community in Sacramento. CPP […]
CPP Housing Invests $9.5 Million to Preserve 18-Unit Affordable Community in Sacramento
Community Preservation Partners (CPP Housing), a national affordable housing developer committed to creativity, performance and purpose, today announced the acquisition of Grand Ave Villa in Del Paso Heights. Built in 1974, the 18-unit apartment complex is CPP’s smallest holding and its first community in the city of Sacramento. CPP plans to invest $9.5 million in […]
CPP Housing Invests $12.3M to Preserve, Revitalize Family-Oriented Community in Bedford County, Tennessee
Community Preservation Partners (CPP Housing), a national affordable housing developer committed to creativity, performance and purpose, today announced the acquisition of Bedford Manor Apartments in Shelbyville, Tennessee for $6.1 million. Built in 1968, the 108-unit multifamily community is home to more than 230 Bedford County residents who will receive a long-overdue remodel of their interior […]