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Acquisition and Renovation

Acquisition and Renovation

Description

Renovating properties threatened with conversion to market rental or luxury housing with new systems and structures.

See some of our Acquisitions and Renovations below:

 

 

See Properties
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Southpoint Crossing

Location

Florida City, FL

Description

Southpoint Crossing is a 122-unit family rental housing community located in Florida City, FL, a suburb of Miami and neighboring Homestead, known as the Gateway to the Florida Keys.

Made up of one-, two-, and three-bedroom apartments spread over 10 two-story buildings, Southpoint Crossing has a number of on-site amenities, including a community building, on-site laundry, playground, and a computer lab.

Southpoint Crossing is located on accessible public transit lines and is a short distance from shopping centers and service providers. 

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Beachwinds Apartments

Location

Narragansett, RI

Description

Beachwinds Apartments is a 104-unit affordable housing community consisting of two senior properties - Beachwood Apartments and South Winds Apartments - in Narragansett, Rhode Island.

The properties were originally built in 1977 and comprise 4 buildings containing 94 one-bedroom and 10 two-bedroom apartments, rented to low and moderate-income seniors, and located on 5.1 acres. POAH acquired the properties in 2004 and POAH Communities has managed the property since then. 

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Washington Park

Location

Cincinnati, OH

Description

Washington Park consists of two 4-5-story buildings located on the same block in downtown Cincinnati. The Klinckhamer (31 West 13th Street) has 20 units and 1223 Republic Street has 17 units of affordable housing in the heart of the city. POAH Communities has operated the properties since 2018 and will recapitalize and rehab the buildings within the next 5 years to ensure continuing long-term affordability.

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Island Terrace Apartments

Location

Chicago, IL

Description

Island Terrace Apartments is a 21-story, 240-unit family high rise, located two blocks south of the future site of the Obama Presidential Center, and across from beautiful Jackson Park in the Woodlawn neighborhood.  It was developed in the late 1960s and owned for decades by local businessman George E. Johnson Sr, founder of the Johnson Products Company, an international cosmetics empire headquartered in Chicago.

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Levy House

Location

Chicago, IL

Description

Levy House is seven-story senior housing building in the East Rogers Park neighborhood of Chicago with 57 one-bedroom apartments. Located a half mile from Lake Michigan, Levy House would have been vulnerable to market-rate or condo conversion and preserving its affordability is important to the city’s housing plan.

The acquisition was assisted by the Chicago Housing Authority, which is providing project-based vouchers for 56 of the units and $3 million in capital funds, and $3.75 million from the City of Chicago. POAH will work with both to plan renovations.

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Elgin Manor

Location

Elgin, IL

Description

Elgin Manor is a 100-unit affordable senior community in a campus-like wooded setting in Elgin, IL. The apartments are fully supported by a Section 8 (HAP) rental assistance contract with 99 one-bedroom and 1 two-bedroom apartments. POAH acquired the property in 2019 in a portfolio purchase that also included the former Wing Schoolhouse in downtown Elgin. In 2023 POAH completed a 14-month renovation (the property’s first substantial upgrade in decades) that included improvements to all 100 apartments and enhances residents’ comfort and experience.

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Wing Schoolhouse

Location

Elgin, IL

Description

Elgin Schoolhouse is an affordable family property located in the historic Abbey Saunders Wing Schoolhouse near downtown Elgin, IL with 27 studio, 1-, 2- and 3- bedroom apartments. POAH acquired Elgin Schoolhouse in 2019, almost 40 years after the former school had been converted to a residential building in 1980, and completed an 11-month renovation of the property in 2022, the property’s first substantial upgrade in decades.

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Archer Avenue Senior Residences

Location

Chicago, IL

Description

Archer Avenue Senior Residences in Bridgeport were acquired by POAH in 2020 from the Chicago Community Development Corporation (CCDC) in this fast-appreciating Chicago neighborhood. This acquisition will ensure that this 55 unit senior property remains affordable long into the future despite significant gentrification pressures in the neighborhood.

The properties include a mix of rent-subsidy-supported apartments (such as Section 8) and more traditional affordable apartments. The properties include fitness areas, computer labs, site security and laundry facilities.

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Attleboro Properties

Location

Attleboro, MA

Description

POAH purchased the Attleboro portfolio in August 2020 in order to preserve and revitalize these affordable housing properties for the long-term. It consists of three properties totaling 227 units of senior and family affordable housing.  POAH will keep in place both state and federal project-based contracts that assist very low income renters at the property.

These properties include a variety of building types, including a historic mill, a historic factory, wood-framed townhomes as well as associated infrastructure.

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Historic Uptown Apartments

Location

Chicago, IL

Description

The Historic Uptown Apartments, comprised of four affordable properties with 192 rental apartments, were acquired by POAH in 2020 from the Chicago Community Development Corporation (CCDC) in this fast-appreciating Chicago neighborhood.

The Uptown properties provide 192 affordable apartments in 11 buildings for individuals and families. This acquisition will ensure that these properties remain affordable long into the future despite significant gentrification pressures in the neighborhood.