Press releases

Planned revitalization of 138-unit community supports access to housing for seniors

Move positions company for rapid growth in eastern U.S.

Transaction extends affordability for the 256 units for 55 years.

4% LIHTC transaction adds 37 affordable units to heavily supply-constrained market

Planned revitalization of 176-unit community supports access to housing for families in a high-cost market

Planned revitalization of 164-unit community supports access to housing in a high-cost market

CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer has announced the acquisition and planned renovation of Canoga Park Apartments, an affordable housing development in Los Angeles, Calif. This is the fifth community in the greater Los Angeles area for CPP and the 60th in the state. Built in 1983, Canoga Park Apartments is comprised of 14 walk-up units across three stories, the first of which is tuck-under parking. Located at 6824 Winnetka Ave in the Canoga Park neighborhood of Los Angeles, the 14-unit development consists of 12-two-bedroom units and 2-three-bedroom apartments designated for individuals and families earning 60 percent of the area median income (AMI) or below.

CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer, has announced the acquisition and planned renovation of Green Hotel Apartments, an affordable senior (62+) apartment complex in downtown Pasadena, Calif. This is the 15th community in the greater Los Angeles area for CPP and the 41st in the state. Built in the 1890s, Green Hotel Apartments is listed on the National Register of Historic Places and is a Pasadena Historic Monument. Located at 50 E. Green Street, the 139-unit property is a seven-story mix of studio and one-bedroom units serving seniors earning between 30 and 60 percent of the area median income (AMI).

CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer, has announced the acquisition and planned renovation of Corinthian House, a senior development in southwest San Jose, Calif. This is the fourth community in the Bay Area for CPP, joining Franco Center in Stockton, and El Rancho Verde and Lenzen Square Apartments in San Jose. Built in 1982, Corinthian House is comprised of two elevator-served, three-story buildings on 1.75 acres. Located at 250 Budd Avenue in the Campbell neighborhood of San Jose, the 102-unit development consists of studio and one-bedroom apartments designated for seniors (62+) earning between 30 and 60 percent of the area median income (AMI) or below.

CPP (Community Preservation Partners), a mission-driven affordable housing preservation developer, today announced the acquisition and planned renovation of Crestview Terrace, an affordable housing development in Ellensburg, Wash. Built in 1970, Crestview Terrace last underwent renovation in 2008, and has since experienced deferred maintenance. The development’s 168 units are spread across 76 single-story buildings, comprised of 95 one-bedroom units, 36 two-bedroom units, 26 three-bedroom units, and 9 four-bedroom units. The property is restricted to residents earning between 40% and 50% of the area median income (AMI). In addition to serving low-income individuals and families, the property serves a number of special needs groups including large families, persons with disabilities, and people experiencing homelessness.