Acquisition and Renovation
Renovating properties threatened with conversion to market rental or luxury housing with new systems and structures.
Renovating properties threatened with conversion to market rental or luxury housing with new systems and structures.
Raleigh, NC
Biltmore Hills is a 50-unit apartment complex situated on 7.16 acres at 2227 Garner Road in Raleigh, NC.
The property, which is currently in its 30-year affordable housing compliance period, faced the risk of redevelopment or conversion to market-rate housing upon expiration of the compliance period. The seller embraced the opportunity to find an affordable housing buyer focused on preservation of the existing units. POAH's purchase ensures that the residents will have continued access to affordable housing options well into the future.
Lynn, MA
Olympia Square Apartments is a 44-unit, 100% Section 8, fully occupied senior property in Lynn, MA - just north of Boston. Formerly known as the Sweetser Block, the building was constructed in 1874 and originally housed a shoe manufacturing operation. The property was converted to apartments during the early 1980s, and has two ground-floor commercial tenants.
Chicago, IL
Originally built in 1926, the Austin Renaissance is a 71-unit family property located in the Austin neighborhood on the west side of Chicago. The property is made up of two, 4-story brick courtyard buildings with walk up units and is 100% project-based Section 8. These buildings are located near multiple CTA Green Line stations and within walking distance of Columbus Park.
As part of POAH's acquisition, a Community Impact Coordinator has been assigned to the building, to support residents with accessing resources.
Chicago, IL
Jackson Park Terrace is a 318-unit complex made up of over twenty low-rise buildings and one high-rise, across from Jackson Park. Located only half a mile from Island Terrace Apartments, another POAH property, it was originally built by the Woodlawn Community Development Corp., one of the country's first community development corporations.
Florida City, FL
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.
Narragansett, RI
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.
Cincinnati, OH
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.
Chicago, IL
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.
Chicago, IL
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.
Elgin, IL
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.