Both properties will remain affordable until 2074. Community Preservation Partners has grown its affordable housing footprint in Montana to three properties following its entrance into the market two years ago.
RALEIGH, NC - Community Preservation Partners (CPP), one of the nation’s most active affordable housing preservation developers, today announced the acquisition of Chandler Ridge Apartments, a 228-unit mixed-income community in Raleigh, North Carolina for $26 million. Purchased with 4% low-income tax credit equity, the deal preserves affordability for those earning 60% AMI or lower for an additional 30 years, while also extending affordability to 37 formerly market-rate units. Located at.