IRVINE, Calif. (July 16, 2019) – Community Preservation Partners (CPP) today announced the end of a $14.3M rehabilitation, including 98 multifamily units spread across two communities in Ogden, Utah, wrapping up the company’s first projects in the state.

Renovations spanned roughly a year of construction at the 58-unit Normandie Apartments and the 40-unit Osmond Heights. Despite the scope of the project, CPP’s proven logistical approach to the renovations ensured that most residents only had to be relocated for two nights at the company’s expense.

CPP helped to preserve the affordability of all 98 units by combining a 20-year renewal on 54 existing project-based Section 8 vouchers with an unorthodox reallocation of 44 vouchers from another property outside the city. The owner of the outside property had planned to let the vouchers expire within months, but by working with the U.S. Department of Housing and Urban Development, CPP was able to transfer the vouchers to Normandie Apartments and Osmond Heights, shoring up affordability throughout both properties for 20 years. Nearly half the units would have been restricted to households making 60 percent of the area’s median income or less without CPP’s considerable efforts.

“We’re proud to make our Utah debut with another display of the community-building capabilities CPP is known for,” said Anand Kannan, president of CPP. “By porting these vouchers, all residents of both communities are eligible for Section 8 status for years to come.”

CPP also skillfully navigated a challenge from nature. A creek flowing through the Normandie property had badly eroded a critical retaining wall, which now has been repaired, and both properties have received the following upgrades:

• Full kitchen renovation, including new appliances, cabinets, countertops and flooring

• Updated bathrooms

• New carpeting throughout units and common areas

• American with Disabilities Act accessibility improvements throughout exterior spaces

• Improved outdoor spaces, including new parking lot pavement and landscaping

• Installation of new outdoor playground equipment

• Remodeled laundry rooms and management offices

CPP’s parent company, WNC & Associates, was the lead investor on the project, which included a loan from California Bank & Trust.

About Community Preservation Partners: CPP is an affordable housing rehabilitation company that owns more than 7,200 units across the United States. Its mission is to enrich lives and strengthen neighborhoods by recapitalizing, rehabilitating and preserving aging affordable housing communities. CPP provides simple, practical solutions to complex challenges facing housing authorities, nonprofits and investors. For more information, visit www.CPPHousing.com or call Seth Gellis, vice president, for properties in the eastern U.S. including Texas at (949) 236-8280 or Jack Aronson, director of development acquisitions, for properties west of Texas at (415) 746-0666.