Community Preservation Partners, L+M Development Partners Announce $123M Rehabilitation of First New Jersey Development
IRVINE, Calif. (Aug. 6, 2020) – National affordable housing developer Community Preservation Partners (CPP) today announced its first rehabilitation project in New Jersey: a $123 million overhaul of the Norman Towers senior apartments in a joint venture with L+M Development Partners. CPP and L+M purchased the property for $94 million and will invest more than […]
Community Preservation Partners Announces $26.3 Million Affordable Housing Rehabilitation in Montana
IRVINE, Calif. (April 28, 2020) – Adding another state to its growing national portfolio, affordable housing leader Community Preservation Partners (CPP) has acquired its first property in Montana – the Ponderosa Acres Apartments located in Billings – in partnership with The Hampstead Companies as part of a rehabilitation project totaling $26.3 million. First built in […]
Community Preservation Partners Completes $24.5M Affordable Housing Rehabilitation in Potsdam, N.Y.
IRVINE, Calif. (June 30, 2020) – Less than a year after acquiring the 137-unit Lawrence Avenue Apartments in Potsdam, N.Y., Community Preservation Partners (CPP) has completed its $24.5M rehabilitation of the property. At the time CPP acquired the community, 20 of the dwellings had been in ruins for months following a fire. True to its […]
Community Preservation Partners completes $420m affordable housing project
Community Preservation Partners has completed its renovation of the 700-unit El Rancho Verde multifamily community in San Jose.In 2018, CPP and its partner, L&M Development Partners, purchased the community, which had not been renovated since 2001, for $370 million and invested more than $50 million in improvements, including the installation of wireless security and solar […]
Community Preservation Partners (CPP) and Jonathan Rose Companies Acquire 180-Unit Affordable Housing Community in Torrance
In a joint venture totaling $105 mil, Community Preservation Partners {CPP) and Jonathan Rose Companies have acquired the 180-unit GoIden West Tower Apartments in Torrance. The partnership is planning more than $10 mil in renovations that will improve the Iives of hundreds of senior citizens. The tower, which was constructed in 1973 and has not […]
Affordable Housing Community in Torrance, Calif., to Undergo Major Renovation in $105M Joint Venture
IRVINE, Calif. (Feb. 25, 2020) – In a joint venture totaling $105 million, Community Preservation Partners (CPP) and Jonathan Rose Companies have acquired the 180-unit Golden West Tower Apartments in Torrance, Calif., and are planning more than $10 million in renovations that will improve the lives of hundreds of senior citizens. The tower, which was […]
Community Preservation Partners to Lead $52.5M Pennsylvania Senior Housing Rehabilitation
IRVINE, Calif. (Jan. 28, 2020) – In its first affordable housing venture in Pennsylvania, Community Preservation Partners (CPP) has partnered with Presbyterian SeniorCare Network to take on a $52.5 million rehabilitation of a senior housing portfolio, which includes homes in Butler, Greene and Washington counties. The Presbyterian portfolio encompasses 278 units built between 1983 and […]
Community Preservation Partners Acquires 158-Unit Southern California Property for $52M
IRVINE, Calif. (Dec. 19, 2019) – In a deal that will vastly improve living conditions for hundreds of residents of Cameron Park Apartments in West Covina, Calif., Community Preservation Partners (CPP) has purchased the multifamily complex for $52 million. The acquisition deal includes nearly $10 million in renovations, plus measures to keep all 158 units […]
Community Preservation Partners Reaches $2B in Total Affordable Housing Investments
IRVINE, Calif. (Jan. 13, 2020) – Community Preservation Partners (CPP) has invested more than $2 billion into neighborhoods across the nation to keep housing costs affordable for thousands of seniors and families, allowing them to remain in their homes. The milestone was calculated by totaling the company’s affordable housing acquisition and rehabilitation costs since its […]
Community Preservation Partners to Rehabilitate Hundreds of New Mexico Affordable Homes
IRVINE, Calif. (Oct. 29, 2019) – In a move that will significantly extend and preserve affordability in New Mexico, Community Preservation Partners (CPP) will begin renovations on 436 affordable homes throughout the state. Part of a $16.2 million construction project undertaken with the property owner, the JL Gray Company, the rehabilitation will revitalize affordable homes […]