Bellflower Friendship Manor
THE SITUATION Bellflower Friendship Manor, an eight-story, 144-unit tower complex in southeast Los Angeles County, was owned by a local nonprofit church group that was not capitalized enough to address the ongoing capital needs of the property as it had become too expensive and burdensome for the church. They further needed a capital event to […]
Keeler Park Apartments
Revitalizing a Community. Restoring Opportunity. In 2023, CPP in partnership with Conifer, embarked on one of its largest preservation efforts to date: Keeler Park Apartments, a 526-unit affordable housing community in Rochester, New York. Built in 1973,the two 16-story towers provide one-, two-, and three-bedroom homes within two miles of downtown. For decades, Keeler Park […]
Ellicott Park Townhomes
Preserving Affordability in the Heart of Buffalo Just steps from downtown Buffalo’s central business district, Ellicott Park Townhomes has long been a vital source of affordable housing for local families. The 220-unitcommunity, spread across 21 townhouse-style buildings spanning nearly nine acres, provides stability for residents in a highly connected and re-emerging neighborhood. But years of […]
Methodist Towers
The Situation Methodist Towers in Erie, Pennsylvania, a 137-unit senior affordable housing property, had been owned and operated by the First Methodist Church of Erie since the 1970s. The church operated the property under a “pay what you can” model, meaning residents paid what they could afford for rent. While well-intentioned, this model hindered the […]
Presbyterian Senior Care
The Situation In 2018, CPP began working with Presbyterian Senior Care of Western Pennsylvania on the repositioning and capital improvement plan for a portfolio of five Section 8 senior housing properties surrounding Pittsburgh, Pennsylvania. Built decades prior, the 276-unit portfolio required major renovations to maintain safety and extend affordability. Presbyterian Senior Care, while desiring to […]
Miracle Terrace Apartments
THE SITUATION Located in one of the nation’s most affluent regions, the 200 low-income seniors from the Miracle Terrace Apartments in Anaheim, CA, were at risk of losing their housing and having few affordable alternatives. With the landlord’s HUD subsidies set to expire in 2019, the residents of the property’s 179 units could lose their homes. […]
Norman Towers
THE SITUATION Norman Towers, a 16-story senior affordable housing development built in 1980, is an important part of its East Orange, NJ neighborhood. It was still owned by the family of the builder, Rudy Cicchino, when it went up for sale. Due to its history and significance as a local resource, many desired that it […]
Winton Gardens Towers
The Situation Originally built in 1973, Winton Gardens Towers, formerly known as Cedarwood Towers, is an affordable housing complex in Rochester, NY. Before being acquired by Community Preservation Partners (CPP) and Rochester’s Cornerstone Group for $13 million, the property had a history marked by crime, drugs, and physical neglect. It consists of two 11-story concrete […]
Canoga Park Apartments
The Situation Canoga Park Apartments is a relatively unique property for CPP to acquire due to its small size. With only 14 units, it faced financing challenges due to the economies of scale: operational expenses and the renovation costs of the building (HVAC, water heaters, electrical, cabinetry, flooring, painting, seismic upgrades, ADA upgrades, etc.) needed […]
Crestview Terrace
The Situation In 2024, CPP acquired Crestview Terrace, an affordable housing development in Ellensburg, Wash., comprised of 168 units. In addition to serving low-income individuals and families, the property also serves special needs groups including large families, people with disabilities, and people experiencing homelessness. Last renovated in 2008, the property experienced deferred maintenance and needed significant […]